Cross-Border Loyalty Program Launched in China by Visa, Ascenda Partnership

Ascenda and Visa are rolling out a new customer loyalty solution to advance cross-border transactions in China while boosting user engagement.

Powered by Ascenda’s technology, the new program unlocks high-value customer spend for leading issuers in China and encourages card payments by offering generous rewards.

Visa is taking advantage of Ascenda’s worldwide customer engagement expertise and integrating with TransferConnect, which is among the world’s biggest largest rewards redemption platforms.

The three companies have complementary capabilities that will deliver a unique rewards program to the Chinese market at speed and scale, according to a press release on Tuesday (Feb. 8).

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“China is a critical growth market and we’re thrilled to partner with Ascenda to modernize cross-border payments and drive cardholder loyalty for our issuers,” said Larry Ma, senior director of digital loyalty solutions at Visa.

“Chinese consumers are digitally savvy and highly engaged in international eCommerce, so it’s never been more important to enable issuers to capture cross-border spend,” Ma added.

The top Visa issuers in China number more than 20, and each will be equipped to offer an alternative to the typical cashback rewards for cross-border spend. Issuers will have the ability to offer Visa cardholders in China cash back in U.S. dollars or collect points for hotel loyalty programs.

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Kyle Armstrong, co-founder and CEO of Ascenda, said the partnership with Visa comes at an exciting time, as China’s “appetite for international eCommerce transactions continues to grow.

“Our market-first rewards program disrupts the cashback era in China and delivers an exciting new world of aspirational rewards,” Armstrong said.

Launched in 2013 and headquartered in New York, Ascenda is a global technology company specializing in the development of banking reward programs. The company serves financial services clients in more than 40 markets, including HSBC, Capital One, ICBC, Standard Chartered, Virgin Money and more.