Visa debuts location-based offers app on iPhone

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Payment and credit solutions giant Visa introduced a new iPhone application offering consumers merchant offers and location-based services from over 50 retailer partners. The free Visa Mobile for iPhone app touts discounts tailored to match consumer lifestyles and interests--Visa Account holders can select from categories like clothing, jewelry, travel and entertainment, with partners including Papa John's Pizza, 24-Hour Fitness, Holiday Inn, Crowne Plaza, Pearle Vision, Meineke, Buca di Beppo and Cold Water Creek. The app will identify nearby merchant locations according to the user's current location, and provide directions to retailers as well as the nearest ATM.

Visa developed the application in association with mobile commerce solutions provider Monitise. The two firms announced a five-year global strategic alliance agreement in mid-2009, with Visa acquiring a 14.4 percent stake in Monitise valued at $13 million.

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