Visa Inc. ( V Quick Quote V - Free Report) recently integrated exclusive benefits from Shipt, Skillshare and Sofar Sounds within its credit cards in a bid to benefit its U.S. Consumer Credit cardholders. The eligible cardholders can avail these benefits, subject to the type of cards being used by them including Visa Infinite, Visa Signature and rest of the Visa U.S. Consumer Credit Cards.
Coming to the benefits, the first one is offered by the leading American delivery service provider, Shipt. It works closely with more than 130 retailers, and brings groceries and household necessities to the doorstep across over 5,000 cities in the United States. With the latest move, the consumer credit cardholders of Visa will be entitled to not only free or discounted membership of Shipt but also get free delivery for orders above $35, subject to certain conditions.
Apart from this, cardholders will get free membership and discounted annual renewal fees of the online learning community – Skillshare. They can also avail presale tickets plus a free concert ticket related to the musical events organized by Sofar Sounds.
Introduction of such benefits highlights Visa’s sincere efforts to upgrade its credit cards and cater to the diverse needs of customers. Moves similar to the latest one provide a boost to the company’s credit benefits portfolio, through which Visa strives to provide exclusive access to increased choice of benefits and enhanced shopping experiences to its consumer credit cardholders.
The company has made efforts to integrate prioritized benefits within its credit cards in the past as well. Early in 2021, Visa integrated the identity theft protection benefit from NortonLifeLock into the former’s U.S. consumer credit cards. As a result, cardholders could avail complimentary offers and rebates on products and services from NortonLifeLock, which is best known for countering potential identity threats and helping people lead secured digital lives.
Continuous addition of benefits within Visa's credit cards has been attracting more people toward utilizing these cards. Higher issuance of Visa-branded cards is expected to boost the company’s transaction volume in the days ahead.
Visa continues to occupy a dominant space as one of the leading U.S. credit card networks. This seems to work in favor of the company as the credit card issuing industry is anticipated to bounce back this year following a dismal period stemming from the pandemic induced financial volatilities and closure of businesses, per analysts of IBISWorld. With gradual economic recovery driving higher consumer spending and resumption of most business activities, the credit card issuing market is likely to see a rebound in the days ahead.
Visa has been committed to rolling out innovative card offerings and catering to the evolving payment needs of customers. It has been focused on technology upgradations and introductions of secured digital payment options to meet customers’ inclination toward online shopping that compelled the majority of businesses to devise newer payment methods.
Zacks Rank & Price Performance
Shares of Visa, which carries a Zacks Rank #2 (Buy), have gained 9.7% in the past year against the
industry's decline of 8.5% Image Source: Zacks Investment Research Other Stocks to Consider
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