Visa has introduced its Flexible Credential, a groundbreaking payment solution that enables users to choose from multiple funding sources on a single card. This innovation, which debuted in the U.S., is now being rolled out in partnership with Affirm and Liv, offering enhanced payment flexibility for consumers.
Revolutionizing Payment Flexibility
For years, payment cards were limited to one function—either debit or credit. Visa’s Flexible Credential breaks this mold by allowing users to access different account funding sources from a single card. This means consumers can easily pay using debit, credit, or other sources without needing multiple cards.
Jack Forestall, Visa’s Chief Product and Strategy Officer, emphasized the ease and convenience of the new system: “It should be simple for consumers to choose how they pay.” By collaborating with forward-thinking partners like Affirm, Liv, and SMCC, Visa is reshaping how consumers manage their payments globally.
Affirm: Empowering U.S. Consumers with Flexible Payment Options
Affirm, a U.S.-based financial services provider, has integrated Visa’s Flexible Credential into the Affirm Card, offering consumers the ability to choose between paying immediately or “buying now, paying later.” With this feature, users can either settle payments at Visa-accepted locations or schedule payments through the Affirm app.
Max Levchin, CEO of Affirm, shared, “Offering financial products that provide control and flexibility is key to our mission. The Affirm card’s integration with Visa enables us to offer consumers a seamless and transparent experience without hidden fees or delays.”
With more than 1.4 million U.S. users, Affirm plans to expand its customer base significantly, continuing to deliver greater financial control and flexibility.
Liv: Simplifying International Payments in the UAE
Liv, the UAE’s first digital bank, has introduced Visa’s Flexible Credential to streamline international payments. The digital bank allows its users to manage multi-currency accounts through a single card, simplifying transactions across borders.
Visa’s Flexible Credential automatically routes payments to the appropriate currency account, making international transactions smoother and more transparent. Users can easily transfer funds between their local and foreign accounts via the mobile app, ensuring they have the necessary balance for purchases.
Liv’s offering supports five popular currencies—US Dollar, British Pound, Euro, Canadian Dollar, and Australian Dollar—and is available to both new and existing customers. Pedro Sousa Cardoso, Chief Digital Officer at Emirates NBD (Liv’s parent company), expressed excitement about the collaboration: “We are proud to offer innovative, flexible payment solutions to our customers, meeting their diverse financial needs.”
Olive: Empowering Small Businesses in Japan
Visa’s Flexible Credential has also been successfully launched in Japan through the Olive Card, a product developed with Sumitomo Mitsui Card Company (SMCC). With over 3 million Olive account holders, the card enables users to access multiple funding sources, such as debit, credit, and prepaid accounts. This provides greater flexibility and financial management options.
For small businesses, Visa and SMCC introduced a “Flexibility” feature that allows users to switch between business and personal accounts on the same card, helping preserve cash flow while managing finances more effectively.
Visa plans to expand this feature beyond Japan, providing more tools to help small businesses manage their finances.
Looking Ahead
Visa’s Flexible Credential gives consumers more control and choice in how they manage their payments, while also enabling financial institutions to tailor their products to individual needs. Visa continues to partner with companies like Affirm, Liv, and SMCC to bring innovative financial solutions to a global audience, enhancing the future of payments.
