ShopNEXT, a Web3 Loyalty Platform that’s powered by BNB Chain has partnered with Visa, one of the world’s leading digital payment platforms to launch its first-ever Web3 Loyalty Platform.
The Loyalty Platform aims to help millions of merchants across the world grow their businesses, stimulate the world’s economy and introduce Web3 to more people across the globe.
With the Web3 Loyalty Platform, ShopNEXT will use the card-linked feature of the Visa Offers Platform which enables all users to link their Visa card to the mobile app. And by using VisaNet, the Web3 Loyalty Platform can track every successful card payment transaction and instantly reward users with blockchain-developed tokens.
ShopNEXT CEO Mr Linh Le commented:
“We want to leverage the beauty of Web3 to create an appealing Loyalty platform. In the situation that the global economy is struggling to grow due to COVID-19, 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.”
To solidify its uniqueness, ShopNEXT explained a new term it calls External Profit Reserve (EPR), where 100% of merchants’ revenue and card issuers’ sales commission will be moved to the EPR in order to back tokens that have been issued on the market.
Visa Country Manager of Vietnam and Laos, Ms Dung Dang, stated:
“Visa is excited about this new collaboration with ShopNEXT that is pushing out the horizon of digital shopping. More consumers now shop online than ever before and they are showing great appetite for new digital experiences like token reward based on blockchain technology and NFTs. Our partnership will help consumers shop without worries while enjoying the speed and security of Visa payments and earn exciting novelties like NFTs.”
Web3 interest continues to grow and this new collaboration sets the scene for global transactions on the next iteration of the internet.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
