Visa announced major changes this week, signaling a shift in how Americans will handle their credit and debit cards.
At their annual Payments Forum in San Francisco, Visa introduced the Visa Flexible Credential. This new technology lets customers use a single card for multiple accounts and payment options, including "Buy Now Pay Later" services.
Already available in Asia, the Visa Flexible Credential will be introduced in the U.S. later this year.
Visa also plans to expand "tap" payments on mobile devices. This year, virtually any device could become a point-of-sale system, allowing customers to "tap" for various purposes, including adding cards to wallets and making person-to-person payments.
Additionally, Visa is rolling out a new Payment Passkey Service. This feature will enable online payments through facial scans or fingerprints, eliminating the need for passwords or codes.
Jack Forestell, Visa's chief product and strategy officer, noted, "The industry is at a pivotal point – new technologies like Gen AI are rapidly shifting how we shop and manage our finances."
Forestell also emphasized the launch of new digital-native card features, aiming to usher in a more customized, convenient, and secure payment future.
