Shanghai, 8th February 2022 - Ascenda and Visa (NYSE: V) today launched a brand-new customer engagement program to capture cross-border transactions and further cultivate cardholder loyalty. The proposition delivers aspirational reward opportunities and is designed to unlock high-value customer spend for leading issuers in China.
Powered by Ascenda’s technology, the new customer engagement program makes card payments highly rewarding. Visa is leveraging Ascenda’s global customer engagement capabilities and integrating with TransferConnect, one of the world’s largest rewards redemption platforms, to bring innovative rewards to the Chinese market at speed and scale.
More than 20 top Visa issuers in China will now be equipped with a compelling alternative to the classic cashback scheme for driving cross-border spend. The program enables issuers to deliver extra value to Visa cardholders in China through innovative engagement campaigns, allowing cardholders to receive cashback in US dollars automatically, or to earn points for hotel loyalty programs.
“China is a critical growth market and we’re thrilled to partner with Ascenda to modernize cross-border payments and drive cardholder loyalty for our issuers,” said Larry Ma, Senior Director of Digital Loyalty Solutions, Visa. “Chinese consumers are digitally savvy and highly engaged in international e-commerce, so it’s never been more important to enable issuers to capture cross-border spend.”
Kyle Armstrong, CEO, Ascenda added: “We’re excited to partner with Visa in China as appetite for international e-commerce transactions continues to grow. Our market-first rewards program disrupts the cashback era in China and delivers an exciting new world of aspirational rewards.”
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.
Ascenda is a global technology company that makes banking rewarding.
Ascenda delivers digitally native, intuitive and easy-to-deploy rewards solutions that enable banks to build deeper customer connections across the entire financial relationship. The company serves financial services clients in more than 40 markets, including leading banks such as HSBC, Capital One, ICBC, and Standard Chartered as well as disruptors such as Virgin Money.
For more information about Ascenda, please visit ascendaloyalty.com.