Wildfire Systems today announced it has partnered with Visa, the world leader in digital payments, to launch the new Visa Affiliate Marketing Solutions (VAMS) program.
Wildfire’s innovative financial technology platform will power Visa’s VAMS program, providing the company’s vast network of card issuers with a rich set of benefits they’ll deliver to consumers with the most advanced and comprehensive shopping rewards solution on the market today.
Visa’s VAMS offering will enable issuers to provide cashback rewards, coupons, and other benefits to cardholders when they shop at thousands of online retailers. The program is available to Visa’s issuer clients throughout the globe, supported by Wildfire’s extensive coverage of over 50,000 merchant programs in 55 countries. By extending cashback and discounts to cardholders, Visa and its issuers are now able to help consumers save and earn money when they shop, which is especially important and timely given the recent spike in inflation. In addition to driving customer loyalty and retention, issuers of both credit and debit cards will benefit from new revenue sources driven by merchant-funded rewards.
The program is a win-win-win for card issuers, which can build a new revenue stream and increase customer retention, as well as cardholders who will save and earn money. Retailers will also benefit from increased sales conversion rates and higher average order values.
“Despite high inflation, ecommerce continues to grow as consumers shop online to find the best offers and deals to offset higher prices. Visa recognizes that more than ever, rewards programs provide a competitive advantage to their issuers and are expected by savvy consumers with years of comparison shopping experience,” said Jordan Glazier, CEO, Wildfire Systems. “We are very excited to partner with Visa to bring a white-label, turnkey rewards solution to the market for their card issuers, helping Visa extend their VAMS program to their partners worldwide, providing a revenue boost to merchants and cost savings to consumers as a result.”
Wildfire’s technology provides consumers with more ways to save money and earn cashback on any mobile device or desktop computer, giving Visa card issuers a highly effective customer acquisition strategy that has been proven to boost retention and brand loyalty.
“It has always been a priority for us to provide our issuer partners with the tools they need to be successful,” said Tad Tilahun, Head of Payment Platforms, Visa. “This collaboration with Wildfire will give our partners a simple and robust reward solution that seamlessly expands their consumer engagement opportunities.”
Wildfire’s enterprise platform allows financial institutions, telecom, and technology companies to deploy turnkey rewards programs with a suite of offerings including cashback, coupons, and shopping assistants across all mobile and desktop interactions.