Visa announced on Tuesday that it is introducing its flexible payments feature in the US and the UAE to meet rising consumer demand for versatile transaction methods. The “flexible credential” feature, which allows users to pay from multiple funding sources with a single card, has already been launched in markets such as Hong Kong, Japan, the Philippines, Singapore, Thailand, and Vietnam, Reuters reported.
As e-commerce continues to grow, consumers are seeking greater convenience and adaptability in their payment options. According to Visa, a survey revealed that 51% of card users are interested in accessing various accounts and funding sources through one payment method.
The U.S. rollout will be supported by a partnership with fintech firm Affirm, which has 1.4 million active cardholders. In the UAE, Visa has partnered with Liv Bank for this initiative. Visa plans to extend this feature to European markets in the coming months, according to Mark Nelsen, Visa’s global head of consumer products.
This collaboration with Affirm highlights the increasing cooperation between fintech companies and traditional financial institutions, signaling new opportunities for revenue generation. Nelsen noted that while fintechs have a head start, legacy banks are expected to leverage such innovations as the ecosystem evolves.
Affirm CEO Max Levchin emphasized the company’s commitment to offering a seamless product that integrates debit and credit functions without hidden fees or late charges.
