Visa is set to revolutionize the payment experience for consumers in the UAE and the Gulf region with its new “Visa Flex Credential” feature. This innovative solution combines credit and debit card functionalities into a single card, offering users unprecedented flexibility and convenience.
The Power of Choice at Your Fingertips
The “Visa Flex Credential” allows cardholders to toggle between different payment options for each transaction. Whether it’s paying with credit or debit, opting for installments, or even settling in a different currency, users can choose the most suitable method for their needs. This eliminates the need to carry multiple cards, streamlining the payment process and simplifying everyday transactions.
Personalized Payment Preferences
The feature goes beyond basic toggling, enabling users to pre-set their preferences for specific scenarios. For example, they can set a threshold for automatic credit payments for transactions exceeding a certain amount, like Dh500. Additionally, users can configure specific payment methods for particular types of purchases, such as always paying for airline tickets in installments.
A Shift Towards Digital Issuance
Visa recognizes the growing trend towards digital payment solutions and sees the “Visa Flex Credential” as a natural progression in this direction. By offering a single card with multiple functionalities, Visa aims to provide consumers with a comprehensive and adaptable payment solution that caters to their evolving needs.
Enhanced Security with Biometric Authentication
Beyond convenience, Visa is prioritizing security with its “Payment Passkey” feature. This innovative technology utilizes biometric authentication, such as facial or fingerprint recognition, to verify cardholders’ identities and authorize online payments. By replacing passwords and one-time codes, “Payment Passkey” streamlines the payment process while enhancing security against online fraud.
A Safer and More Secure Future of Payments
Visas commitment to a safer and more secure payment ecosystem is evident in its implementation of “Payment Passkey” and “Visa Click to Pay”. These features, developed in line with FIDO standards, aim to combat online fraud by ensuring user authentication and simplifying the checkout process.
The Future of Payments in the UAE
The introduction of Visa’s new features marks a significant step towards a more convenient and secure future of payments in the UAE. By offering greater flexibility, choice, and security, Visa is empowering consumers to manage their finances more efficiently and enjoy a seamless payment experience.
Also Read: Visa and Mastercard Agree on Landmark Settlement with U.S. Merchants Lowering Fees’s; Here’s What You Need to Know
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