Visa Inc. V recently launched its Visa Web3 Loyalty Engagement solution, enhancing its offerings. This new value-added service will improve customer engagement for brands aiming to cater to next-generation users through online treasure hunts, gamified giveaways and ways to earn and spend loyalty points.
This move bodes well for Visa as traditional loyalty programs needed amendment, following the evolving needs of new-age customers. This will enhance Visa’s offerings for brands and help them reward customers for transactions and engagement. Traditional loyalty programs did not customize offers per customer’s preferences, leaving an area for innovation. Per Euromonitor International and Visa, Loyalty Redefined, 77% and 60% of customers prefer real-world experiences and curated experiences, respectively. Visa also partnered with SmartMedia Technologies to bridge Web2 and Web3 innovation and provide customized offers and experiences for users.
With Visa’s new solution, customers will benefit from curated offers that can be redeemed for digital or real-world experiences, like sports, travel, etc. Visa is aiming to revolutionize loyalty programs for the future by seamlessly integrating the Web3 platform with its digital payment solutions. Per The United States Loyalty Programs Market Intelligence and Future Growth Dynamics Databook 2023 report, the loyalty market is expected to grow 12.3% to $27.5 billion in 2023. As more customers seek to benefit from loyalty programs, transactions will rise as a result, benefiting Visa’s top line.
Loyalty programs will also bring repeat purchases for retailers, benefiting their sales figures and helping with Visa’s client retention. Traditionally, a high percentage of rewards go unredeemed due to the irrelevance of offers and the complexity of redemption. Hence, Visa’s new solution will break this chain and help in improving the success of loyalty programs of brands.
Price Performance
Shares of Visa have gained 8.4% in the past six months compared with the industry’s 6.1% jump.
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Zacks Rank & Key Picks
Visa currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Business Services space are RCM Technologies, Inc. RCMT, APi Group Corporation APG and RB Global, Inc. RBA. While RCM Technologies sports a Zacks Rank #1 (Strong Buy), APi Group and RB Global carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of RCM Technologies outpaced estimates in two of the last four quarters and missed the mark twice, the average surprise being 13.3%. The Zacks Consensus Estimate for RCMT’s 2023 earnings suggests an improvement of 1% from the year-ago reported figure. The consensus mark for RCMT’s 2023 earnings has moved 11.1% north in the past 60 days.
APi Group’s earnings outpaced estimates in all the trailing four quarters, the average surprise being 5.9%. The Zacks Consensus Estimate for APG’s 2023 earnings suggests an improvement of 18.1% from the year-ago reported figure. The consensus mark for revenues suggests growth of 6% from the prior-year reading. The consensus mark for APG’s 2023 earnings has moved 4.7% north in the past 60 days.
The bottom line of RB Global outpaced estimates in each of the last four quarters, the average surprise being 18.9%. The Zacks Consensus Estimate for RBA’s 2023 earnings suggests an improvement of 15.4% from the year-ago reported figure. The consensus mark for revenues suggests growth of 111% from the year-ago reported number. The consensus mark for RBA’s 2023 earnings has moved 2.6% north in the past 30 days.
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