Visa unveils new products, services

Wednesday, Jun 12, 2024 11:00

Visa recently announced a suite of new products and services. — Photo Courtesy of Visa Vietnam

Visa recently announced a suite of new products and services that will be available in Asia Pacific, including Việt Nam.

The new products and services, the company said, are set to revolutionise the payment card and address the future needs of businesses, merchants and consumers, and the financial institutions that serve them.

"Innovation in our industry is vital as payments serve as the fundamental vehicle of commerce enabling economies to thrive. There is a huge opportunity for the payments ecosystem to shape new digital experiences together. It is more critical than ever that we partner and collaborate closely to unlock meaningful value and impact for consumers, merchants, and local communities,” said Dung Đặng, Visa country manager of Vietnam and Laos.

One of the new offerings is “Visa Flexible Credential”, which allows a single card product to switch between different payment methods, providing consumers with greater choice and flexibility. Users can easily select payment methods such as debit, credit, Buy Now Pay Later with "pay-in-four," or use rewards points, all through a single Visa credential. This solution is currently available in markets like Hong Kong, Japan, the Philippines, Singapore, Thailand, and Việt Nam, with plans to expand to more Asia Pacific countries later this year.

Another new solution is "tap to everything," which includes features like tap to phone, tap to confirm, and tap to add card, enhancing security when adding cards to wallets or apps. The tap to person-to-person function allows for easy money transfers between family and friends.

Visa is also introducing a new way for individuals to manage their data and enhance their shopping experiences using AI technology. With Visa data tokens, consumers can choose to share their data while shopping online, track where it has been shared, and revoke access directly from their banking app. This enables merchants to request consent from consumers for personalised offers, creating a more tailored shopping experience.

The "Click to Pay" solution streamlines the online checkout process, offering a seamless and secure transaction experience. Consumers can complete online transactions quickly by selecting their pre-enrolled Visa card for payment in just a few clicks. — VNS

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