Visa Application On the iPhone, changes the game in Location Based Shopping Tech

Visa Inc. (NYSE: V): Announced today that they will now have an app on the iTunes app store whereby Visa Account holders can download the app on their iPhone, utilize location-based-technology, and take advantage of Merchant Offers near them.  According to the Visa press release, "The application uses location-based technology to provide consumers with a map and directions to a nearby retailer where they can redeem merchant offers."  


You can find a list of participating merchants at www.visa.com/mobile.  The technology under the hood was gained through a partnership with Montise pcl (LSE: MONI.L). 


This is an extremely smart business move in the midst of the holiday shopping season.


SOURCE: Visa Press Release