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Published January 12, 20242 min read

Coinmooner Exclusive: Visa's Web3 Advancements Revealed

CoinMooner Team

In the world of Web3 technologies, their influence is growing in traditional economic, technological, and social spheres. This expansion enhances capabilities for both companies integrating new systems and users, enriching functionalities in the online space. In a notable development, the Coinmooner team highlights a significant move by Visa to incorporate Web3 elements into its loyalty program. The primary aim of this crucial step is to attract a new audience that may be less engaged with traditional digital and payment methods.

The international payment system, Visa International Service Association, currently brings together two entities: Visa Inc. (USA, Foster City), holding all rights to the trademark and utilized technologies, and Visa Europe Services Inc. (UK, London), managed by European banks and operating under licenses from Visa Inc.

The total transaction volume on Visa cards reaches 8.3 trillion U.S. dollars. Visa cards are accepted at payment points in over 200 countries worldwide. The organization plays a key role in developing innovative payment products and technologies, utilized by 15,500 financial institutions (as of March 31, 2019).

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Visa introduces an innovative solution that integrates Web3 elements, aiming to enhance companies' loyalty programs. This outstanding solution leverages cutting-edge Web3 technologies and digital collectibles, providing unique opportunities to boost customer engagement.

Developed in collaboration with SmartMedia Technologies, this groundbreaking solution includes the ability to create secure Web3 wallets for storing digital collections. Additionally, the platform offers loyalty programs where benefits can be earned, traded, owned, and transferred using advanced digital collecting technologies.

Moreover, brands can reward their customers with tokens and digital collectibles for making purchases, actively participating in social media, or taking part in surveys. These applications will feature personalized wallets, markets, and communities, making the user experience even more individualized and convenient.

Visa is actively keeping an eye on blockchain technologies and the cryptocurrency space, demonstrating a keen interest in leveraging decentralized innovations. Their involvement in this area has been consistently confirmed, highlighting their commitment to adopting technologies from the decentralized realm. This move is just one of many in their ongoing support for innovative technologies.

The Coinmooner team will closely monitor further developments towards the advancement of Web3 by companies like Visa and eagerly share all relevant information with our readers. We look forward to new milestones in the development of blockchain and closely related technologies.

Additionally, we want to emphasize the importance of ensuring the security and protection of your investments and assets. Regularly update your security methods, stay informed about the latest trends in this field, and be cautious of potential risks. Reliable protection is key to successful participation in the dynamic world of finance and technology.

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