Visa, a global leader in payment technology, unveiled groundbreaking new products and services at the annual Visa Payments Forum in San Francisco.
Known for its innovative solutions, Visa is aiming to address the evolving needs of businesses, merchants, consumers, and financial institutions.
The introduction of the new product, Visa Flexible Credential, stems from the profound changes witnessed in consumer payment preferences over the past five years.
With consumers embracing embedded digital commerce and the widespread adoption of contactless payments, Visa recognised the need for a more versatile payment solution.
The newly unveiled product, Visa Flexible Credential, revolutionises the payment card experience by providing users with unparalleled flexibility and control.
This innovative solution allows a single card to toggle between various payment methods, empowering consumers to choose their preferred mode of payment seamlessly.
The offering caters to the diverse needs of consumers, offering options such as debit, credit, Buy Now Pay Later (BNPL), and rewards points redemption.
By putting the power of choice in the hands of consumers, Visa aims to create a more customised, convenient, and secure payment ecosystem.
In addition to this, Visa also introduced “Tap to Everything,” leveraging the widespread adoption of NFC-enabled mobile devices. This feature enables consumers to make contactless payments effortlessly, contributing to the seamless and secure payment experience offered by Visa.
Jack Forestell, Chief Product and Strategy Officer, Visa, said, “The industry is at a pivotal point – new technologies like Gen AI are rapidly shifting how we shop and manage our finances. We’re announcing the next generation of truly digital-native payment card experiences. Today we unveiled new card features and digital innovations that will bring consumers into a more customised, convenient and secure future.”
“There is a global desire to find commonality, interoperability and simplicity for online payments. Our passkeys, designed specifically for payments, represent a massive paradigm shift in our industry because it confirms identity without interrupting the checkout experience. Visa Payment Passkey Service increases security while reducing friction when you pay online, across any device or website, globally.”
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