CA-VISA
15.5.2024 23:01:32 CEST | Business Wire | Press release
The way people pay and get paid has changed more in the past five years than in the last 50. Consumers have evolved, adapting to new payment experiences – from the advent of embedded, digital commerce to the rapid adoption of “the tap.” Today at the annual Visa Payments Forum in San Francisco, Visa (NYSE: V) 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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240515563838/en/
“The industry is at a pivotal point - new technologies like Gen AI are rapidly shifting how we shop and manage our finances,” said Jack Forestell, Chief Product and Strategy Officer, Visa. “We’re announcing the next generation of truly digital-native payment card experiences. Today we unveiled new card features and digital innovations that will bring consumers into a more customized, convenient and secure future.”
The new products and services Visa unveiled today, which will begin to roll out later this year, include:
A Visa study found that more than half of card users want the power to access multiple accounts through a single credential.1 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.
There are six billion mobile devices in the world2 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 we saw in 2019, cementing tap as one of the best commerce experiences today.3
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
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.4
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.
“There is a global desire to find commonality, interoperability and simplicity for online payments. Our passkeys, designed specifically for payments, represent a massive paradigm shift in our industry because it confirms identity without interrupting the checkout experience,” said Forestell. “Visa Payment Passkey Service increases security while reducing friction when you pay online, across any device or website, globally.”
Click to Pay + Visa Payment Passkey Service
As its first deployment of passkeys, Visa is integrating Visa Payment Passkey Service into Click to Pay, powering a more seamless and secure checkout experience at scale. Additionally, in many markets around the world, Visa will partner with issuers to enable Click to Pay and Visa Payment Passkey Service on new Visa cards, reducing manual entry of card details and passwords from the moment the card arrives.
Non-card payments don’t deliver the same experience, security and protections as card-based payments. Electronic payments, like ACH transfers, have been left out of the digital revolution. With pay by bank, Visa is digitizing and streamlining the account-to-account (A2A) payments experience, giving people more choice over how they want to pay, whether that’s an A2A transfer, applying for a loan or paying with another funding source, like a credit card. Since its acquisition of Tink, Visa has expanded across Europe, giving millions of bank customers innovative financial management tools and removing friction from their payment experiences. Visa is bringing this new technology to the U.S. to help its clients deliver additional seamless, protected banking experiences.
Visa sees over 200 billion transactions every year and analyzes 500 data elements in every transaction to identify and stop fraud5 in real time. Working with Real-Time Payments (RTP) networks around the world, we are overlaying decades of Visa expertise in applying AI to help mitigate fraud for account-to-account payments on RTP networks. Live in Latin America and piloting in the UK, Visa Protect for A2A Payments is already identifying 60% of RTP fraud and scams previously undetected by financial institutions.6
Data Tokens
For the last 10 years, Visa has added security to the payments ecosystem by tokenizing payments, removing sensitive cardholder account information from the payment flow. Today, 29% of all transactions processed by Visa are tokenized,7 with widescale adoption by merchants and issuers in nearly every market globally. As new data regulations create a guide for better consumer data privacy practices, and Gen AI transforms how we discover things online, Visa believes that payment data has a role to play in delivering these new and improved experiences - and that consumers should be empowered to have more control too. Using its tokenization infrastructure, Visa will offer a new way for people to control their data and receive better shopping experiences, powered by AI.
Visa data tokens let consumers, whose financial institution participates in the program, consent to sharing their data as they shop online, then see where it’s been shared and revoke access right from their banking app. With data tokens, Visa and participating banks can enable an experience where a merchant can request consent from the consumer to get more personalized offers as they shop. If the consumer agrees, behind-the-scenes, Visa issues a private data token to the merchant complete with AI-generated insights based on the consumer’s transaction data. The data token can be used with the merchant’s AI models to deliver real-time recommendations for the shopper. Visa will also pass the data token to the consumer’s bank to capture where the data has been shared, so the consumer can easily review where it has been shared in their mobile banking app and revoke access if they choose.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
__________________________
1 Source: from Visa Flex Account Consumer Research Conducted November 2022: Consumer evaluation of Flex Consumer Value Proposition to support Visa’s pitch to Issuers (AP Markets only)
2 Statista Data 2023: https://www.statista.com/statistics/330695/number-of-smartphone-users-worldwide/
3 VisaNet Data, December 2023, December 2019
4 Source: 1. Visa data. Fraud data from 3Q23. Approval rate from 4Q23.
5 VisaNet data, https://usa.visa.com/run-your-business/visa-security/risk-solutions/authorization-optimization.html
6 A Pay.UK/Visa pilot analysed more than 50% of annual UK A2A transactions over a 12-month period.
7 VisaNet, April 2024. Global card-not-present (CNP) and card present (CP) transactions for tokenized vs non-tokenized credentials.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240515563838/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
VerSprite Launches Fork and Knife: AI-Driven Threat Modeling and Adversarial Testing Built for the Speed of Modern Software26.6.2026 23:28:00 CEST | Press release
Powered by the risk-centric PASTA methodology and two decades of accredited offensive security, the integrated platform lets enterprises threat model in a security sprint—then prove the risk through AI-led, human-on-the-loop testing. VerSprite, a global leader in risk-based threat modeling and the firm behind the PASTA (Process for Attack Simulation and Threat Analysis) methodology, today announced the general availability of Fork (www.forktm.com), a continuous application threat modeling platform, alongside Knife, an AI-led, human-on-the-loop adversarial testing platform for web applications and web API endpoints. Together, the two products operationalize a new model for product security—one where applications are securely designed, continuously modeled, and actively tested as part of the build process itself. The launch addresses a problem every security leader knows but few tools have solved: threat modeling is essential, never more so than in an AI-driven era, yet it has remained s
Venture Global Announces Closing of $1.5 Billion Senior Secured Vessel Financing Facility26.6.2026 22:30:00 CEST | Press release
Venture Global, Inc. (NYSE: VG) announced today that its wholly-owned subsidiary, Venture Global Shipping Holdings, LLC (“VGSH”), has entered into a Credit and Guaranty Agreement providing for a senior secured term loan facility (the “Facility”) in an aggregate principal amount of up to $1,500,000,000. The Facility will mature on June 26, 2032. Deutsche Bank and ING acted as coordinating lead arrangers for the Facility. ING also serves as facility agent and security trustee. VGSH intends to use the net proceeds from the Facility for general corporate purposes, including to reimburse Venture Global LNG, Inc. for payments previously made by it or its affiliates in connection with the acquisition of nine LNG carriers, funding certain reserve accounts, and paying transaction fees and expenses. About Venture Global Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (“LNG”) with over 100 MTPA of capacity in production, construction, or development. Ven
Andersen Consulting tilføjer House of Code for at styrke teknologi- og dataløsninger26.6.2026 20:01:00 CEST | Pressemeddelelse
Andersen Consulting forstærker sine kompetencer inden for teknologisk transformation gennem en samarbejdsaftale med House of Code, en global virksomhed med hovedkvarter i USA, der specialiserer sig i datadrevne platforme, automatisering og agentbaserede ai-løsninger. House of Code blev stiftet i 2001 og udvikler softwareløsninger samt yder rådgivning til energihandels- og finanssektoren med kunder, der spænder over hedgefonde, kapitalfonde og forsyningsvirksomheder. Virksomheden besidder dyb ekspertise inden for energihandel og risikostyring og hjælper organisationer med systemimplementering, forretningstransformation, dataautomatisering og ai-underbygget modernisering af arbejdsgange. Deres proprietære platform, Enterprise Platform for Integrated Compliance (EPIC), skaber en mere effektiv datastyring, automatiserer rapporteringsprocesser, forbedrer den driftsmæssige gennemsigtighed på tværs af virksomhedssystemer og skaber et fundament for opbygning af intelligente, agentbaserede arbe
Capco Recognized by OpenAI for Innovation and Responsible AI Leadership26.6.2026 20:00:00 CEST | Press release
Receives AI Governance & Risk Excellence Award at OpenAI Partner SummitCapco’s UK AI Lab wins OpenAI Codex Hackathon Global management and technology consultancy Capco, a Wipro company,has been recognized by OpenAI for both AI innovation and responsible AI leadership. Capco received the AI Governance & Risk Excellence Award at the recent OpenAI Partner Summit 2026 in San Francisco, highlighting Capco’s ability to deliver enterprise-grade AI outcomes in highly regulated environments. The award recognizes Capco’s expert advantage when helping financial services and energy organizations to scale AI with confidence, balancing innovation with strong governance to reduce risk, strengthen compliance and improve customer outcomes. This award follows Capco winning the OpenAI Codex Hackathon, where its UK AI Lab competed against more than 30 teams and over 100 participants from across the OpenAI partner ecosystem. Capco's winning entry Sentra – a consulting-led, AI-powered retail banking solutio
Incyte Announces Positive CHMP Opinion for Opzelura® (ruxolitinib) Cream for the Treatment of Adults with Moderate Atopic Dermatitis26.6.2026 13:30:00 CEST | Press release
If approved, Opzelura® (ruxolitinib) cream will be the first steroid-free, topical JAK treatment option in the European Union (EU) for adults with moderate atopic dermatitis (AD) for whom standard topical therapies have failedAD, the most common type of eczema which affects 230 million people globally,1 is a chronic, recurring, inflammatory and highly pruritic (itchy) skin condition that can have a significant impact on daily life2Phase 3 TRuE‑AD4 data supporting the positive CHMP opinion demonstrated that ruxolitinib cream met both co‑primary endpoints at Week 8, maintained disease control with as-needed treatment through Week 24 and was well tolerated3,4,5 Incyte (Nasdaq: INCY) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has issued a positive opinion recommending the approval of Opzelura® (ruxolitinib) cream for the treatment of moderate atopic dermatitis (AD) in adult patients for whom topical corticosteroids
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom