Visa and ShopNEXT partner to launch Web3 loyalty platform
Visa and ShopNEXT have partnered to debut a Web3 Loyalty Platform. Any Visa card holder can earn token rewards with their purchases. ShopNEXT is a Web3 loyalty platform powered by the BNB Chain.
The new initiative aims to bolster Web3 adoption in the global economy and help more business grow in the Web3 era.
The program works by utilizing the card-linked feature of the Visa Offers Platform that allows any user to link a Visa card to their mobile app, VisaNet. Customer’s card payments and transactions will be tracked via VisaNet and allow ShopNEXT to distribute rewards in the form of ShopNEXT tokens instantly.
ShopNEXT tokens represent loyalty points and are developed on blockchain.
ShopNEXT will also blend in-app gameplay and NFT cards to create a Shop-To-Earn model. This model contributes real value to the economy by creating mutually beneficial opportunities and encourages collaboration between shoppers and merchants to work together. Users are incentivized to shop more, which helps merchants grow their businesses.
ShopNEXT CEO Mr. Linh Le, said the loyalty program was created in a bid to help post-pandemic economic recovery as he recognizes the struggles businesses are facing.
‘Our mission is to help merchants grow their businesses by motivating everyone to shop and earn token rewards, which contributes to rapidly stimulating the world economy. From there, we also provide the easiest and safest gateway for everyone to start their Web3 journey with the Shop-To-Earn model. This collaboration with Visa will help us accelerate the process of acquiring merchants and users efficiently,’ he added.