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On May 15th, VISA announced a series of groundbreaking products and services designed to revolutionise card usage, addressing the evolving needs of businesses, merchants, consumers, and financial institutions. As new technologies like AI rapidly transform how we shop and manage our finances, VISA’s new features promise a more personalised, convenient, and secure future for consumers. In a nutshell, VISA wants to become a network of networks. Will they pull it off? This article provides an overview of the key innovations.
VISA Flexible Credential

VISA’s Flexible Credential allows users to access multiple accounts through a single VISA credential. This feature enables users to switch between funding methods such as debit, credit, Buy Now, Pay Later (BNPL), and rewards points. Users can set preferences in their mobile banking apps for when and how these methods apply. This feature is already live in Asia and will launch with Affirm in the US later this summer.

Tap to Everything

VISA is enhancing the convenience of tap technology with several new applications:

  • Tap to Pay: Transform any device into a point-of-sale (POS) device.
  • Tap to Confirm: Simplifies identity authentication for online shopping.
  • Tap to Add Card: Increases security when adding a card to a wallet or app.
  • Tap to P2P: Facilitates money transfers between family and friends.
Visa Payment Passkey Service

The VISA Payment Passkey Service streamlines online payments by confirming a consumer’s identity through biometric scans (face or fingerprint). This service eliminates the need for passwords or one-time codes, providing a more secure and efficient transaction process. VISA is initially integrating this service into Click2Pay.

Pay by Bank

Leveraging Open Banking, VISA enables account-to-account (A2A) payments. Following its acquisition of Tink, VISA is expanding this functionality from Europe to the US, allowing seamless A2A transactions.

VISA Protect for A2A Payments

To address the growing challenge of fraud in Real-Time Payments (RTP), VISA is introducing VISA Protect for A2A Payments. This AI-driven service mitigates fraud risks for A2A payments on RTP rails. It is already live in Latin America and is currently being piloted in the UK.

Data Tokens

VISA combines data privacy with personalised shopping through tokenisation. Consumers will receive real-time, unique offers from merchants’ AI models while retaining control of their data. This feature enhances the shopping experience while prioritising privacy.

A Long-Term Strategy

These new features are not just one-off enhancements but part of VISA’s long-term strategy to lead the future of e-commerce and payments. Here’s what’s driving VISA’s vision:

  • GenAI Integration: Riding the wave of generative AI in e-commerce and payments.
  • Personalised Experiences: Empowering tailored user interactions.
  • Visa-Centric Transactions: Emphasising Visa’s role while making funding methods secondary.
  • Core Product Enablers: Utilising tokenisation, Tap2Pay, and Click2Pay to support VISA’s core offerings (credit, debit, prepaid).
  • Open Banking Integration: Incorporating Open Banking within a multi-payments infrastructure, enhancing VISA’s value-added services.
  • Global Digital Wallet Adoption: Powering mobile apps and digital wallets with new features.
  • Enhanced User Experience: Focusing on convenience and usability with features like Tap2Everything.
  • Interoperability, Privacy, and Security: Balancing these elements to provide flexible and secure choices for merchants, banks, and consumers.

VISA’s ambitious updates mark a significant step in transforming the traditional card system into a versatile, integrated network of networks. As these innovations roll out, VISA aims to remain at the forefront of the digital payment revolution, offering enhanced flexibility, security, and user experience.

AJC’S VISA Audit Services

AJC is a trusted and VISA approved Global Acquirer Risk Standards (GARS) assessor, specialising in risk mitigation strategies. We guide acquirers and third-party agents and merchants through their risk remediation journeys, offering unbiased evaluations and realistic recommendations. Among the few VISA approved firms, AJC provides invaluable assistance and assurance to acquiring businesses and merchants directly with bespoke reviews and remediation approaches, engaging personally with all of our clients. Find out more.

Please contact us on 020 7101 4861 if you think we can help.


Image accreditation: Anna Dziubinska (2014) from Last accessed on 12th June 2024. Available at:

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