Visa, the American global financial services organization, has reached agreements with ShopNEXT to launch the first-ever Web3 Loyalty Platform.
The platform would be able to track all Visa card payments, allowing cardholders to buy conveniently while also earning token rewards.
ShopNEXT also includes in-app games and NFT cards, which allow users the chance to increase their earning rewards, bringing the Shop-to-Earn concept to life.
Another feature that distinguishes ShopNEXT is that 100% of the earnings from merchant and card issuer sales commissions will be transferred to an External Profit Reserve (EPR) to back all tokens sold on the market. This is done to ensure that each token has intrinsic value that is produced by consumers through their purchases.
This project will help both customers and companies, as the first will be driven to buy in order to receive incentives, while the latter will be able to enhance sales and growth.
