Visa USA has upgraded its processing systems to allow for the management of cardholder rewards and enhancements at the individual account level.
The upgrade represents a fundamental shift in how Visa manages benefits and opens up the possibility for issuers and merchants to deliver individually tailored offers to their customers, the company said.
The systems upgrade also allows Visa to help merchants tailor discounts and promotions to the most interested cardholders. Instead of grouping cardholders by pre-selected reward categories, merchants and card issuers can, in the future, offer dining promotions to cardholders who are avid restaurant-goers, discounts to consumers who prefer boutique shopping, or special offers to frequent travelers.
“Cardholders tell us they value payment cards that provide them with rewards, and merchants tell us they want opportunities to most effectively target cardholders who would appreciate their offers,” said Elizabeth Buse, executive VP-product development and management, in a statement.
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