Merchants may vary in size and what they sell, but what they all have in common is a need to acquire new customers and grow revenue. While payments is a critical part of doing business, Visa recognizes the need to build tools and services to help drive growth for our merchant partners.
Today we’re launching the Visa Commerce Network, which gives merchants a way to create new customer experiences that grow sales and build loyalty. Visa Commerce Network works by connecting transactions between two merchants on Visa’s payment network. For example, a hotel booking site can connect its Visa customers to local restaurants to offer discounts or integrated travel perks when shopping at these stores.
Visa Commerce Network was created from the TrialPay platform, which was acquired by Visa in 2015, and built on the world’s largest electronic payment network, VisaNet. Visa Commerce Network APIs allow merchants to retrieve active promotions, locate best matched offers, enroll eligible Visa cards and be notified when consumers complete the qualifying requirements. By exposing an API, we believe merchants can best build the consumer experience that makes sense for their customers.
These offers drive value to merchants by providing consumer incentives to transact with Visa merchants in exchange for content or services offered by a publisher. This creates a network of consumers, merchants and publishers that add value to each other by using the power of the Visa network to connect and transact.
While the launch of Visa Commerce Network provides an exciting opportunity for merchants to engage cardholders, it is just the beginning. You’ll be seeing more from us as we continue to build products that enable merchants to grow their businesses and build stronger customer relationships – both online and in-store.
To learn more about the Visa Commerce Network, and hear what companies such as Uber and Shake Shack have to say about it, read our press release here.