Visa launches Flex Credential in Vietnam for optimal payment solutions

Asia Commercial Joint Stock Bank (ACB) is one of the first financial institutions in Vietnam and Southeast Asia to roll out this solution. ACB Visa cardholders can optimally switch between debit and credit cards through the ACB One app. Vietnam International Commercial Joint Stock Bank (VIB) is expected to follow up soon through its MyVIB app. Additionally, officials state that by the end of 2025, more issuers are expected to expand Flex Credential to reach a wider range of Vietnamese consumers, enabling various use cases. 

Visa Flex Credential enables customers to have direct control over every transaction. They can choose debit for daily purchases, credit for larger expenses, or even use loyalty points when checking out, whether for everyday essentials or a holiday. Additionally, users can select to pay overtime directly from the app and access multiple currency accounts through a single credential. 

According to Visa’s latest Green Shoots Radar survey, Vietnamese customers, particularly Gen Z and Millennials, are optimistic about their financial situation. Young Vietnamese are prioritising investments in education (66%), healthcare (65%), electronics (63%), and travel (61%), making significant purchases and decisions about their financial futures. 

Potential benefits for customers

Some of the key features of Visa Flex Credential are:

• Customisable payment options – users can choose between various payment methods, such as debit, credit, prepaid, loyalty points, to meet different spending needs, while using a single credential;

• Augmented security protocols – customers can benefit from Visa’s latest security technologies to remain protected against fraud;

• Personalised insights and control – users can leverage AI-driven insights to optimally manage their finances and spending habits;

• Unified payment experience – all the financial transactions can be managed through a single, user-friendly platform.

Visa is also partnering with ACB to support Cashless Day 2025, a local initiative aimed at promoting the adoption of digital financial services. 

Visa’s Flex Credential to optimise SMEs 

Visa first launched Flex in partnership with Sumitomo Mitsui Banking Corporation (SMBC) and Sumitomo Mitsui Card Company (SMCC), known as Olive, two years ago in Japan. Today, according to the company, five million Olive account holders are benefitting from the Visa Flex Credential. The Olive card continues to perform, with cardholders' transactions averaging 40% higher than the national average in Japan over the past year. Visa and SMCC have expanded the Visa Flex Credential to support SMEs by providing flexibility to switch between business and personal accounts using the same Olive card, optimising access to credit and cash flow management.