With this move, Visa aims to give its customers a wider selection and control over how they pay. Starting with the US, the Visa Flexible Credential is set to be rolled out with the Affirm Card, a debit card that enables eligible individuals to leverage the Buy Now, Pay Later (BNPL) option in the company’s app. At the same time, Liv equips frequent travellers with access to multiple currency accounts from one card, which in turn simplifies cross-border payments. Representatives from Visa underlined that collaborating with partners like Affirm, Liv, and SMCC supports their company in optimising payments for consumers. By working together with other industry participants, Visa intends to deliver more payment choices and adapt to the needs, preferences, and demands of consumers.
At the time of the announcement, Affirm was among the first companies to utilise Visa’s credential for its US consumers with the Affirm Card, which provides consumers with the ability to flexibly pay now or pay over time. The collaboration with Visa enables Affirm Card users to pay in full anywhere Visa is accepted or request to pay in instalments in the Affirm app.
Moreover, when it comes to Liv, the company launched a new option allowing individuals to access multiple currency accounts from a single card. The Flexible Credential is set to optimise and make regular spending in multiple currencies more transparent. Also, the solution supports banks in accelerating the introduction of multi-currency initiatives to their customers. The Visa Flexible Credential automatically routes the transaction to the account with the appropriate transaction currency, regardless of where an individual pays, either online or in-store. Utilising a mobile app, cardholders can transfer funds between local and foreign currency accounts. In addition, the offering is set to be available to new and existing Liv customers and supports currencies such as USD, GBP, EUR, CAD, and AUD.
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