Business Daily Media

The Times Real Estate

.

Visa Reinvents the Card, Unveils New Products at Singapore Fintech Festival 2024

PHNOM PENH, CAMBODIA - Media OutReach Newswire - 7 November 2024 - 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 growth of different payment methods. Visa is announcing a suite of new products and services that will be available in Asia Pacific. These solutions are set to ­reinvent the card and address the future needs of businesses, merchants and consumers, and the financial institutions that serve them.

"The payments landscape is changing rapidly, and it is impacting the interactions between consumers and businesses," said TR Ramachandran, Head of Products and Solutions, Asia Pacific, Visa. "For Visa, this is an opportunity to deliver innovations that enhance payment experiences across Asia Pacific with greater flexibility, security, and convenience. Visa is committed to meeting the evolving demands of consumers and merchants, ensuring seamless and secure payments."

Visa is showcasing its new products and solutions at Singapore Fintech Festival Hall 2, Booth 2E17. These innovations, which will begin to roll out across Asia Pacific, include:

Visa Flexible Credential

Visa Flexible Credential allows a single card product to toggle between payment methods. Consumers can easily set parameters or choose whether they use debit, credit, "pay-in-four" with instalments or even pay using rewards points all via the same, single Visa credential. Since debuting the Olive card in Japan with Sumitomo Mitsui Card Company (SMCC)[1] just over a year ago, there are now over three million SMCC cardholders taking advantage of the Visa Flexible Credential. The solution is currently available in Hong Kong, Japan, the Philippines, Singapore, Thailand and Vietnam.

Visa's new wallet payment experience

Utilising its network expertise, Visa will connect different types of payments, giving consumers more ways to pay, regardless of form factor, whether online or offline and at point-of-sale terminals. Soon, consumers will be able to use their everyday wallets to scan and pay at any merchant that accepts Visa via scanning enabled QR codes at merchants outside of their domestic markets.

Visa is working with QR providers, enabling these QR merchant networks to accept Visa payments. Visa is also working with digital wallet partners across the region, to enable users of these wallets to scan these QR codes and pay seamlessly and securely when they travel abroad.

Visa Payment Passkey

Built on the latest Fast Identity Online (FIDO) standards, the Visa Payment Passkey enables a consumer to verify and authenticate their identity, and authorise online payments, with a quick scan of their biometrics like their face or fingerprint using authentication tools made available on their devices. When shopping online, Visa passkeys replace the need for passwords or one-time codes, enabling more streamlined and secure transactions.

Click to Pay

Click to Pay enables consumers to complete online transactions within a few clicks, powering a more seamless and secure checkout experience at scale. Consumers will simply need their registered email, phone number or Visa Payment Passkey to check-out online.

Data Tokens

Using its tokenisation infrastructure, Visa will now offer Visa data tokens, a new way for people to control their data and receive better shopping experiences, powered by AI. This token can be used by the merchant's AI models to deliver real-time recommendations. Additionally, Visa ensures that consumers can track and manage shared data through their mobile banking app.

Visa Protect for Account-to-Account (A2A) Payments

Visa Protect for Account-to-Account Payments (Visa Protect for A2A) is designed to detect and reduce fraud across immediate account-to-account payments, including P2P digital wallets and QR code payments. Built specifically as a fraud prevention solution for real-time payments,[2] this AI-powered service analyses up to 500 unique risk factors in real-time, providing financial institutions with an immediate risk score to stop fraudulent transactions before they happen.



[2] Real-time payments (RTPs) facilitate near-instant fund transfers between bank accounts or digital wallets held by consumers and businesses.

Hashtag: #SingaporeFintechFestival2024 #VisaFlexibleCredential #VisaPaymentPasskey #ClicktoPay #DataTokens #VPAA




The issuer is solely responsible for the content of this announcement.

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 .

News from Asia

LFC and adidas reunite with new multi-year partnership

LIVERPOOL, UK - Media OutReach Newswire - 13 March 2025 - Liverpool Football Club and adidas have agreed a new multi-year partnership that will see the sportswear giant once again become the club...

Prince Holding Group Earns Fifth Consecutive ‘Best in Cambodia’ Award for CSR Initiatives

Recognized at the 17th Annual Global CSR & ESG Awards for Sustainable Development Efforts PHNOM PENH, CAMBODIA - Media OutReach Newswire - 13 March 2025 - Prince Holding Group has been recogni...

Galaxy Macau’s Reveals a Galaxy of Stars As the Integrated Resort’s Restaurants are Awarded Five Michelin Stars in the 17th Michelin Guide Hong Kong Macau 2025

Sushi Kissho by Miyakawa Celebrates a Stellar Debut MACAU SAR - Media OutReach Newswire - 13 March 2025 - In the 17th Michelin Guide Hong Kong Macau 2025, Galaxy Macau™, the world-class luxury in...

Melco continues to lead with the city’s top number of Stars granted by MICHELIN Guide Hong Kong & Macau 2025

MACAO SAR - Media OutReach Newswire - 13 March 2025 - Melco Resorts & Entertainment continues to lead in Macau in the newly published MICHELIN Guide Hong Kong & Macau 2025, being granted ...

Singapore G Unveils the Largest Cold Storage Facility in Central Singapore, Reinforcing Its Commitment to Supporting SMEs and Business Growth

SINGAPORE - Media OutReach Newswire - 14 March 2025 - Singapore G, a trailblazer in space solutions, today announced the grand opening of MustardSeed@SG Cold Store, a cold storage facility in the ...

GROW with Singlife and aberdeen Launch New Exclusive Share Class of Global Income Bond Fund to Deliver Sustainable Payouts Amid Market Volatility

Globally diversified portfolio of crossover bonds aims to deliver attractive yields for investors SINGAPORE - Media OutReach Newswire - 14 March 2025 - GROW with Singlife ("GROW"), the integrated...

Konica Minolta wins 2025 A3 Line of the Year Award and four Pick Awards from Keypoint Intelligence

Recognition of Konica Minolta’s adaptable, future-ready innovations in office printing technology. SINGAPORE - Media OutReach Newswire - 14 March 2025 – Konica Minolta has been awarded five ...

Silver vs. Gold: Octa Broker's Expert Take on the Future of Precious Metals

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 14 March 2025 - Silver is attracting investor interest, with market analysts predicting a potential leap to $40 per troy ounce in 2025...

Asia trade set for continued growth despite challenging global business environment, reveals DHL Trade Atlas 2025

India, Vietnam, Indonesia, and the Philippines are forecast to lead in both speed and scale of trade growth from 2024 to 2029 South Asia and Southeast Asia regions set to ach...

Incode joins Australia’s Age Assurance Technology Trial to protect children online

With a market-leading +99% accuracy rate, Incode will play a key role in safeguarding Aussie minors on social media Incode Technologies Inc., a...

Empowering small businesses: Localsearch rolls out affordable digital solutions

New suite of digital solutions designed to boost visibility, engagement, and customer acquisition In response to a rapidly evolving digital lan...

Why Responsible Leadership is a Competitive Advantage for Small Businesses

In today’s fast-changing business landscape, leadership is evolving. While large corporations are reassessing their diversity, equity, and inclusi...

Why it’s a great time to include the EU in your export push

With the US market beset with unknowns, training your sights on mainland Europe in 2025 makes sound sense. Wondering whether the introduction o...

Success Isn’t About Labels—It’s About Mindset

In the lead up to International Women’s Day, I’ve been reflecting on my own success as a business owner and whether or not being a woman has playe...

Accelerate Action- Thryv champions women in business for International Women’s Day

Thryv® (NASDAQ: THRY), provider of the leading small business software platform, is celebrating International Women’s Day by shining a spotlight o...

Sell by LayBy