• by Tanya Gazdik , December 22, 2010

Visa is working with more than 50 merchants to deliver exclusive offers to Visa account holders via its new mobile application for iPhone.

The free download gives Visa account holders access to the deals via a simple tap of the finger. Some of the retailers offering targeted offers include Planet Hollywood, Papa John's Pizza, 24-Hour Fitness, Jos. A Banks, Tourneau, New York & Company, Holiday Inn, Ramada, Crowne Plaza, Pearle Vision, Meineke, Buca di Beppo, Cold Water Creek, Zales and the Hard Rock Café.

Offers are automatically delivered and stored in the application. They can be tailored by lifestyles and preferences and can be redeemed online or off. The application uses location-based technology to provide users with a map and directions to a nearby retailer.

"In any other case, I'd say that this was just another location-based app that aggregates nearby deals, which isn't that original these days," wrote Justin Montgomery in Mobile Marketing Watch about the new app. "Being a Visa-branded app, however, changes the dynamic and overall appeal from a consumer standpoint. It should be interesting to see what other brands sign-on in the near future and to see some response, usage and conversion data."

Visa is pleased with the uptake of the Visa Mobile Application and have had "thousands" of downloads, says Prakash Hariramani, senior business leader, Visa, who declined to share exact numbers of transactions that have been completed thus far.

The company chose merchants across select categories including food & drink, retail, apparel and entertainment. Some examples of standard Visa offers include $25 off at Sports Authority when spending $100 or more; 20% off at Jos A Bank, Days Inn and Ramada; $10 off a purchase of $20 or more at Planet Hollywood and 10% off at Buca di Beppo. Visa signature offers include special offers from Fandango, Sonoma County Vintners and Kapulua Resorts.

The Visa Mobile Application complements the existing Visa Merchant Offer Program, Hariramani says. Besides giving cardholders ways to stretch their dollars, "merchants also benefit from additional foot traffic given that the applications offers location-based services that provide cardholders with a map and directions to a nearby retailers where they can redeem merchant offers," Hariramani tells Marketing Daily.