Visa Inc. unveiled new products and services that will revolutionize the card and address the future needs of businesses, merchants and consumers and the financial institutions that serve them. The new products and services Visa unveiled, which will begin to roll out later this year, include: Visa Flexible Credential: A Visa study found that more than half of card users want the power to access multiple accounts through a single credential. The Visa Flexible Credential will allow a single card product to toggle between payment methods, putting the power of choice in the hands of the consumer.

Now people can easily set parameters or choose whether they use debit, credit, ?pay-in-four? with Buy Now Pay Later or even pay using rewards points. Visa Flexible Credential is live in Asia and will be launching with Affirm later this summer in the U.S. Tap to Everything: There are six billion mobile devices in the world providing consumers with a versatile NFC enabled device primed to be ?tapped.?

At the end of 2023, Visa?s tap to pay penetration reached 65% globally, up two times the penetration they saw in 2019, cementing tap as one of the best commerce experiences today. This year, new ways to ?tap? on a mobile device will become an integral part of the Visa experience.

Tap to Pay: Any device can now be a POS device. Tap to Confirm: Easily authenticates identity when shopping online. Tap to Add Card: Enhances security when adding card into a wallet or app.

Tap to P2P (person-to-person): Allows money to be sent between family and friends. Visa Payment Passkey Service. Identifying a person in the digital world has become incredibly complex and has resulted in a significant increase in fraud.

Today, online payment fraud is seven-times higher than in-person payments. Built on the latest Fast Identity Online (FIDO) standards, the Visa Payment Passkey Service confirms a consumer?s identity and authorizes online payments with a quick scan of their biometrics like a face or fingerprint. When shopping online, Visa passkeys replace the need for passwords or one-time codes, enabling more streamlined, secure transactions.