Visa Introduces 7 New Payment Features

Visa Introduces 7 New Payment Features
Visa Introduces 7 New Payment Features

Hey FinTech Fanatic!

At its yearly Payments Forum, Visa introduced seven new consumer payment products to make its mobile banking app central to digital commerce.

Here's a summary of the updates:

  1. Visa Payment Passkey Service: This service uses facial or fingerprint scans to authorize online payments, replacing passwords for a smoother shopping experience.
  2. Flexible Credentials: A single digital card can switch between payment methods (e.g., debit, credit, BNPL), allowing consumers to set preferences and customize payments.
  3. Tap to Everything: Enhances card capabilities to authenticate identity for online shopping, card provisioning, and peer-to-peer payments by simply tapping the card on a mobile device.
  4. Pay By Bank: Allows consumers to link bank accounts for direct payments, simplifying the process and maintaining the relationship between consumers and billers.
  5. Visa Protect Expansion: Extends fraud protection to account-to-account payments by enriching real-time transaction data to flag fraudulent activities.
  6. Data Tokens: Empowers consumers to control access to their payment data, enabling personalized offers and better data privacy.
  7. AI-Powered Tokens: Future integration of AI will automate and streamline payment choices, enhancing the consumer experience and driving innovation.

These updates aim to improve the consumer experience and position Visa's mobile banking app as a comprehensive digital wallet.

Do you think these updates are groundbreaking? And if so, which one(s)? Let me know in the comments below👇

Finally, I want to share with you a poll together with my friends at Payquicker:

Delivering seamless payments to a global workforce is becoming increasingly essential with the rise of an on-demand workforce. Payouts come with their own set of challenges — what have you experienced?

Fill in the poll to share your thoughts with the Connecting the dots in FinTech community!



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