Velocity are launching a new Velocity Points earning offer in early April. Going by the name of Velocity Daily, it will offer bonus points on Visa spend at eligible retailers.
Launching on April 3, you will earn Velocity Points while using any Australian issue Visa card at participating retailers.
Velocity Daily
The Velocity Daily website has gone live, and details how the program will work.
The first step will be to register your Visa cards. You will be able to register up to five Australian Issued Visa debit, credit or pre-paid cards.They can be from any Australian issuer – they just need to be active Australian issued cards.
Once registered, simply shop at participating retailers using your registered Visa Card. You will need to make sure your payment is processed through the Visa network for payments. This is done either by selecting the “credit” function or by using paywave. Using the ‘Savings’ option will usually use the eftPos network, bypassing Visa.
The website indicates that it will a trial offer, between April 3 and June 30, 2018, will be run. It ides give hope that it may go longer, with an indication that it may be extended (or cut short for that matter)
It seems that the trial will be focused around the Eastern suburbs of Sydney. Good if you are in the area, while the rest of us wait for the program to come to us.
Launch Offers
There are a couple of launch offers listed on the site, offering bonus points over and above the points earned through the retailers.
First up, you will earn a bonus 500 Velocity Points when making your first transaction (between April 3 and June 30)
The second offer is that members will be offered 2026 Velocity Points after spending making transactions at 10 separate retailers. (The 2026 represents the postcode of Bondi)
And there’s a competition. Every eligible transaction will receive an entry into a competition to win a trip to Hong Kong.
Compared to My Card Offers
In some ways, the offer is has some similarities to the Qantas run My Card Offers. There are also some significant differences. Under My Card Offers, extra Qantas Points are earned on certain MasterCard spend.
Under the Velocity Program, you can spend at any participating retailer, while Qantas restrict you to using the retailers that have selected for you. In addition, Velocity appears to be offering a broader range of retailers – with over 100 listed on the current website. If the range of retailers continues as they expand the program, there are likely to be a great number of points earning opportunities.
Velocity has concentrated more on local retailers. For example, local cafes and pharmacies feature in the list. The Qantas program tends to be more focused on national retailers.
Velocity and Visa have structured the program to pay a bonus on each dollar spent. For example, most of the launch retailers are offering 2 Velocity Points per dollar. In comparison, Qantas offer a fixed number of points for achieving a spend threshold.