If you're a Visa Cardholder and download this App, you will receive customized offers that can be redeemed online or in brick-and-mortar stores. The App will also give you a map and directions for locating retail outlets where you can redeem their offers, and it will also help you find nearby ATMs (nice experiential play, but does leading customers to ATMs make business sense? Maybe there are more cash advances on Visa cards than I think).
Visa is currently working with around 50 hand-picked retailers, including 24 Hour Fitness, Meineke, New York & Company, Holiday Inn, Hard Rock Café and Zales.
As for the customization, you will be able to select from a handful of categories to personalize the offers you receive, such as clothing, jewelry, travel, dining, entertainment, and other retail goods. And account holders with Visa Signature cards will get extra special offers in addition to the offers available to all Visa account holders (nice loyalty play for their best customers).
Frankly, this is cool, but I think it falls flat. It's nice to see Visa get into the Apps game, but this really feels like a combination of a mini-Groupon and Google Maps, with an added customization touch. Unfortunately, it seems like the customization is self-reported and not served up from learned behaviors.
If Visa could sign on all of their partners, enable me to make my purchases through my iPhone (a technology will be the next big thing, my guess, in 2011 and 2012), and customize offers based on the tracking of those other purchases...then I would be impressed. That would be an App that everyone would want and eventually think they needed.
I won't be downloading this App, but I'm sure some people will. Are you one of those people? Would you use this App? ~ p
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