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Credit cards have evolved considerably over the past two decades. The scanning method has almost disappeared, after being replaced by credit card chips (the insert method) and contactless credit cards (the Tap-to-Pay method). And with Credit card fraud In addition, the landscape of digital transactions is constantly evolving. Now, if you are a visa card holder, you will want to listen to because the company has major changes in stores for its customers, some of which come into force this summer.

In relation: Never use your credit card for these 6 purchases, according to financial experts .

May 15, Visa announced three key modifications Coming to debit and credit cards in the United States, including flexible visa identification information, TAP to Everything and Visa Payment Passkey Service.

The new visa features follow other advanced digital payment services such as Apple Pay, Zelle and Venmo and Buy now, pay later Companies such as Klarna, Afterpay and Affirm. Similar to these options, Visa seeks to eliminate the need to transport several physical cards in your wallet.

"The industry is at a busy point Jack Forestrel , said in the press release. "We are announcing the next generation of truly digital native payment card experiences. Today, we have unveiled new card features and digital innovations that will bring consumers in the more personalized, practical and secure future." AE0FCC31AE342FD3A1346EBB1F342FCB

Among the new features, the flexible identification initiative of visa generates the most buzz. The service will allow users of the card "to access several accounts via a single diploma", explains the payment card service company based in San Francisco.

In other words, if you have a Visa debit and credit card with the same financial institution (like Chase, for example), you will receive a combined card that can work both as a debit and credit card. So, instead of having two cards in your wallet, you will now have one.

Users will be able to specify the account they would like to make money. For example, you can define all gas purchases to go to your credit card or any balance of less than $ 50 to be removed from your current account (AKA, a rate purchase).

The flexible visa identification will have a purchase option now, pay later through a partnership with Affirm, which will also allow customers to pay purchases with reward points. The service will be officially launched later this summer in the United States

Regarding the TAP to Everhything functionality, visa cards holders will now be able to add physical debit and credit cards to their mobile wallets by "supporting" in relation to digitization. You can also press the person to the person to send money digitally and press a card on your smartphone when purchasing online items. Essentially, "any device can now be a POS device", according to the press release.

In addition, Visa deploys its payment payment payment service to combat online online payment fraud. According to Visa, the service "confirms the identity of a consumer and allows online payments with a rapid analysis of his biometrics such as a face or fingerprints". The company explains that biometrics is much more secure than passwords or unique codes when the online purchases ended.

"There is a global desire to find common points, interoperability and simplicity for online payments. Our pass keys, designed specifically for payments, represent a massive paradigm change in our industry because it confirms Identity without interrupting the payment experience, "Forest said in the press release. "Visa Payment Passke Service increases security while reducing friction when you pay online, on any device or website, on a global scale."

Best Life offers the most recent financial information of the best experts and the latest news and research, but our content is not supposed to replace professional advice. Regarding the money you spend, save or invest, always consult your financial advisor directly.