“But some things are uniquely you. Your face, your fingerprint, your biometrics are yours and yours alone. And they’re the key to the next generation of security in payments,” Visa says.
Earlier this month international financing giant Visa announced they will be offering a service that allows customers to connect a number of banks and money accounts in just a singular card.
In a press release published last week, “Visa Flexible Credential” was announced, touted as “a new technology that lets issuers give their clients the ability to access different funding sources on an existing payment card.” Normally each account requires its own individual card, but now no longer will Visa customers need to carry “around a small stack of plastic,” the company says.
Visa boasts it will enable “one card to rule them all” – “virtual or otherwise,” they state.
Visa Flexible Credential — a new technology that lets issuers give their clients the ability to access different funding sources on an existing payment card — is already letting consumers do exactly that.
From line of credit or checking account, to loyalty points, prepaid debit or installments, some shoppers — and in the near future, all shoppers whose issuers enable the technology — are living in the future of payments, where one card can tap into different types of funding sources.
Visa wrote
According to one of Visa’s studies, ‘51% of card users want the power to access multiple accounts and funding sources through a single credential.’ Visa will begin launching pilot programs later this year for their Flexible Credential, though the program is already up and running in some parts of the world with $3 billion already through their pilot network…
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