Visa teams up with Affirm to launch card for flexible payments in US

By Niket Nishant

(Reuters) - Visa (NYSE:V ) is partnering with fintech company Affirm to roll out a card in the U.S. that customers can use for both debit transactions and buy now, pay later purchases, reflecting the growing demand for flexibility in payment options.

The company is also launching the feature in the United Arab Emirates via a partnership with Liv Bank and plans to expand into Europe in the coming months, it said on Tuesday.

Customers are increasingly prioritizing convenience and flexibility in payments, especially as e-commerce flourishes, prompting companies to take proactive steps to maintain their edge in an industry being reshaped by digital disruptors.

A Visa study found that 51% of card users want the ability to access multiple accounts and funding sources through a single credential.

Such customers typically have to carry a debit card for everyday purchases and a credit card for larger transactions.

Visa's "Flexible Credential" feature is available in Hong Kong, Japan, the Philippines, Singapore, Thailand and Vietnam.

Over the next 12 months, it will partner with different digital and traditional banks to expand it, said Mark Nelsen, Visa's global head of consumer products.

Visa's partnership with Affirm also reflects the growing alliance between fintechs and traditional financial players. While typically viewed as competitors, such collaborations can allow both parties to unlock new revenue streams.

"We provide a platform for the fintechs to innovate at scale, (that) is how we see ourselves," said Nelsen.



"It's a little bit easier for the fintechs to get started on this. But as the ecosystem matures, you'll see some legacy banks start to take advantage of it as well," he added.

Affirm CEO Max Levchin said the company was looking at a product "that seamlessly brings debit and credit together, without late or hidden fees."

Source: Investing.com

Последние публикации
Autodesk earnings beat by $0.05, revenue topped estimates
26.11.2024 - 23:00
Workday earnings beat by $0.13, revenue topped estimates
26.11.2024 - 23:00
Stock market today: S&P 500, Dow sidestep Trump's tariff threat to close at record
26.11.2024 - 23:00
Netflix defeats shareholder lawsuit over growth forecasts
26.11.2024 - 23:00
Dell's third-quarter revenue misses on PC weakness
26.11.2024 - 23:00
Autodesk shares tumble despite a beat-and-raise report
26.11.2024 - 23:00
Workday stock falls as guidance disappoints despite earnings beat
26.11.2024 - 23:00
Dell Technologies Q3 revenue falls short of estimates as weak PC demand weighs
26.11.2024 - 23:00
CrowdStrike beats Q3 estimates on cybersecurity demand
26.11.2024 - 23:00
Russia stocks lower at close of trade; MOEX Russia Index down 2.57%
26.11.2024 - 23:00
HP forecasts Q1 profit below estimates on sluggish demand in PC market
26.11.2024 - 23:00
Brazil stocks higher at close of trade; Bovespa up 0.69%
26.11.2024 - 23:00
Canada stocks lower at close of trade; S&P/TSX Composite down 0.02%
26.11.2024 - 23:00
Mexico stocks lower at close of trade; S&P/BMV IPC down 0.98%
26.11.2024 - 23:00
TotalEnergies suspends Adani Green investment, awaiting clarity on bribery case, says CEO
26.11.2024 - 22:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?