Each user automatically receives customized offers, which are stored in the app and can be redeemed online or in brick-and-mortar stores. The app [iTunes link] gives its users a handy map and directions for locating retail outlets where they can redeem their offers, and it will also help Visa cardholders find nearby ATMs.
At launch, Visa is working with about 50 hand-picked retailers to bring special deals to Visa account holders via the Visa iPhone app. Participating merchants currently include 24 Hour Fitness, Meineke, New York & Company, Holiday Inn, Hard Rock Café and Zales.
As far as customization goes, users will be able to select from a handful of categories to tailor the offers they get; verticals include purchases such as clothing, jewelry, travel, dining, entertainment and other retail goods.
And account holders with Visa Signature cards will get extra special offers in addition to the offers available to all Visa account holders.
While we were expecting something a bit less trendy and a bit more techie from the credit card company -- something like what Visa did for New York City subway riders, perhaps -- Visa's first official iPhone app is a decent starting point.