As reported in TechCrunch, Uber and Visa have partnered on a reward programme that will reward Uber riders with free rides for patronizing local businesses. To make the programme a frictionless experience, access to the Local Offers reward programme is built right into the Uber app. The programme is the type of continued effort toward personalisation and added value that sets Uber apart from its competitors.
The programme is simplicity itself: Uber riders earn one point per dollar spent at a participating local business when using the Visa card stored in their Uber accounts. Earn 100 points and redeem them for a free ride worth up to $10.00. That's a healthy 10% funding rate that will most certainly encourage participation.
The programme is built on Visa's Commerce Network merchant-funded reward platform. For Visa's part, they smell opportunity to drive spending when Uber riders step out of the car. Money quote from TechCrunch:
"As Visa notes, there's already a tight connection between Uber and its own company as U.S. cardholders spend more than $144 billion per year in physical stores, with $2 billion of that occurring as soon as a rider steps out of an Uber. With Local Offers, Visa aims to boost that spending even further, allowing local businesses to acquire new customers, increase sales, and drive loyalty, it says."
The Local Offers programme is debuting in San Francisco and Los Angeles - because when do these things debut anywhere else? - and will hopefully roll out in other locations soon.
Read the TechCrunch article here.
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