Visa (NYSE:V) today announced the launch of Visa Loyalty Solutions (VLS), an omnichannel digital points redemption platform available to all issuing banks in Latin America and the Caribbean (LAC) and offering consumers more than a quarter of a million redemption options. Visa Loyalty Solutions was co-created by Visa LAC in collaboration with global FinTech and InsurTech company novae.
This white-label solution, developed for Visa's bank partners, enables issuing member banks of any size to offer top-of-the-line rewards and customer care programs they can adapt to their loyalty strategies and brand as their own. Visa Loyalty Solutions features a user-friendly mobile app and web portal, as well as chat and voice, to make points redemption and customer service faster and easier for cardholders and financial institutions around the region.
"Visa Loyalty Solutions offers a seamless and flexible digital experience that adds value for consumers, participating businesses and issuers, and can be easily adapted to each of our bank partners' loyalty strategies," said Ricardo Tafur, Vice President of Consumer Products for Visa Latin America and the Caribbean. "We are committed to innovate in order to provide the best consumer experience," he added.
This new digital platform offers cardholders the option to redeem points and get preferential deals at more than 285,000 hotels, hundreds of airlines and a wide network of car rental companies--not to mention tours, amusement parks and other entertainment options--around the world.
"At novae we want to bring our partners disruptive technologies that are user-friendly, efficient and reliable. That's why we're so excited to be co-creating platforms and applications with Visa to create nimbler, simpler and smarter experiences for merchants and consumers," said Sergio Arana, novae's CEO and founder.
The platform's innovative and flexible redemption process allows cardholders to either use their points or combine them with their cards to complete their purchases. Amounts are displayed in U.S. dollars as well as points to give cardholders a better idea of the real value of their purchases. Online and mobile customer service centers provide assistance and information via voice, live chat and video.