Visa (NYSE:V) has partnered with Ascenda, a loyalty solution for banks seeking a deeper customer relationship, to utilize the company’s Nexus platform across the Asia Pacific region.
Ascenda says that the increase in e-commerce has generated new opportunities to engage users before, during and after transactions. Today, there are greater expectations for receiving personalized rewards instead of a general set of benefits.
The Visa and Ascenda partnership means card issuers can deploy rewards programs that are easy to implement along with offers and promotions from merchants via Visa Offers Exchange and Ascenda’s global network. By utilizing Visa’s API services, Ascenda authenticates customers securely and identifies payment transactions that are eligible for rewards.
Chris Clark, regional president, Asia Pacific, Visa, explains that as Visa evolves their business beyond cards, reward programs are becoming more digital, more engaging, more personalized.
“Visa and Ascenda already have a strong track record of partnering to equip top-tier banks with leading customer engagement solutions,” said Sebastian Grobys, chief commercial officer at Ascenda. “With Visa now leveraging our new Nexus model and integrating Visa’s existing engagement solutions for rapid deployment, we are unlocking significantly greater scale for our collaboration going forward.”