Visa announces web3 loyalty rewards partnership with SmartMedia Technologies

Quick Take

  • Payments giant Visa is launching a web3 rewards loyalty program through a partnership SmartMedia Technologies. 

Payments giant Visa has launched a web3 loyalty reward system it says can boost customer engagement. 

The move will give customers digital wallets that are used to collect tokenized tickets, loyalty coins, digital collectibles and other perks from brands which can then be applied to virtual and physical experiences, according to company statements

Users of the platform don't have to have advanced knowledge of blockchain technology to use the rewards, a Visa spokesperson told The Block, adding that "the offering makes web3 easy for both partners and consumers alike, from our partner's first-of-its-kind engagement platform to our simple 2-click mobile registration."

SmartMedia Technologies

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The enterprise web3 platform SmartMedia Technologies is powering Visa's new web3 loyalty platform. Founded in 2018, SmartMedia Technologies has collaborated with payments firm American Express, consumer goods company Unilever, and the luxury fashion brand Burberry, among others. 

The new collaboration with Visa "is not just about enhancing customer rewards, it's about redefining the value exchange between brands and consumers in a mobile payments-first world," SmartMedia Technologies CEO Tyler Moebius said in a company release.


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About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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