Uber and Visa have partnered on Uber Local Offers, which allows customers to get discounted rides when they pay using a Visa card on file in the Uber app at enrolled merchants.
Customers who use their Visa credit card connected to their Uber account at partner merchants get one point for every dollar they spend. The points are counted up in the Uber app and for every 100 points they will get $10 off the next ride.
Visa’s data suggests this type of partnership was a no brainer since:
“Visa cardholders who use Uber in the United States spend more than $144 billion per year in physical stores with $2 billion spent at local businesses soon after getting out of an Uber.”
“We’ve built Local Offers right into the Uber app, making it a one stop shop for riders to see our curated list of places and track progress toward free rides,” said Drew Quinn, product manager, Uber. “We’re excited to partner with Visa to help riders get even more out of their experience shopping and dining at the places they love, and the local favorites they’ve yet to try.”
Offers, gift cards and rewards look to be the dark horse of 2016 payment trends. They may seem, trivial, and ancillary to the real payment experience, yet they got a lot of coverage and attention at this year’s Money 20/20 Europe from giants such as Samsung and MasterCard, with the latter’s president explicitly saying it’s an area of interest for the company.
The partnership between Visa and Uber lends weight to the trend and shows that companies are treating loyalty schemes and rewards as more than a triviality.
As entrepreneur Steffan Aquarone recently said, “Loyalty is a good angle.” He explained that rewards make people feel valued, which is high-up on any company’s objectives.
Terry Angelos, vice president of loyalty and offers for Visa said:
“The rider experience can now be extended beyond the car and into the local community, where merchants can access $2 billion in local spending while rewarding cardholders for everyday purchases. That’s a relationship that makes sense for riders, Uber and local businesses.”
It’s no secret that customers increasingly prefer to use mobile banking apps to manage their cash ‘on-the-go’ over online banking.
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