Visa has introduced a range of new digital-first products and services at the annual Visa Payments Forum in San Francisco. These innovations are designed to meet the future needs of businesses, merchants, consumers, and financial institutions.
Key Products
- Visa Flexible Credentials: Allows a single card to toggle between debit, credit, ‘pay-in-four’, or rewards points.
- Mobile Enhancements: Includes Tap to Confirm, Tap to Add Card, and Tap to P2P, improving security and convenience.
- Visa Payment Passkey: Replaces passwords with biometric authentication for online payments.
- Pay By Bank: Utilizes Tink’s technology for account-to-account payments, enhancing security and fraud detection.
- Data Tokens: Allows consumers to consent to data sharing for personalized offers and revoke access via their banking app.
Jack Forestell, Visa’s Chief Product and Strategy Officer, emphasized that these innovations represent a shift towards more customized, convenient, and secure digital payment experiences:
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 customized, convenient, and secure future.
Jack Forestell, chief product and strategy officer, Visa Visa Payment Passkey, for instance, simplifies online payments by confirming identity without interrupting the checkout process, enhancing security while reducing friction.
Visa’s new products and services will be rolled out over the coming year, with initial deployments in Asia and the US, and further expansions planned globally. These innovations aim to set new standards for digital payments, offering enhanced security, efficiency, and user experiences.
