Visa has launched its Flex Credential characteristic in Vietnam, permitting cardholders to decide on between debit, credit score, and different cost choices utilizing a single card.
Asia Business Joint Inventory Financial institution (ACB) is the primary in Vietnam and Southeast Asia to roll out the answer, with VIB set to comply with quickly by way of its MyVIB app.
Out there by way of the ACB One app, the characteristic allows customers to modify between cost varieties relying on their wants.
Past debit and credit score, Flex Credential may assist loyalty level redemption and, in some markets, entry to a number of foreign money accounts by way of a single card.
Visa mentioned extra banks will undertake the expertise by the tip of 2025.
The answer incorporates superior safety protocols and supplies a unified cost expertise, permitting customers to handle transactions seamlessly by way of a single platform.
Visa Flex Credential was first launched in Japan two years in the past in partnership with Sumitomo Mitsui Banking Company and Sumitomo Mitsui Card Firm.
Often known as Olive in Japan, the cardboard has gained over 5 million account holders and has recorded transaction volumes averaging 40% greater than the nationwide common.
The characteristic was later expanded to assist small companies, permitting customers to toggle between private and enterprise accounts on the identical card.
Visa can be partnering with ACB to assist Cashless Day 2025, an area initiative to encourage the adoption of digital monetary companies.
Dung Dang, Visa Nation Supervisor for Vietnam & Laos, mentioned,
“Flex Credential is Visa’s breakthrough resolution that allows the combination of a number of funding sources by way of a single card credential, offering cardholders with most flexibility to effectively handle and utilise their cost kinds.
In particular markets such because the U.S. and UAE, Visa Flex Credential permits cardholders to decide on to pay now or pay over time straight from the app, in addition to entry a number of foreign money accounts by way of a single credential – making cross-border funds easy and seamless.”
Featured picture: Edited by Fintech Information Singapore, based mostly on picture by komodo by way of Freepik
