Visa Flexible Credential Goes Global, Launching in the US and UAE with Affirm and Liv Digital Bank

Visa has launched its Flexible Credential globally, a single payment card that allows consumers to switch between debit, credit, buy-now-pay-later, and rewards points on a per-transaction basis.

In the UAE, Emirates NBD's digital bank Liv became the first issuer to offer the Visa Flexible Credential with multi-currency capabilities, enabling its customers to choose their preferred payment method and currency for each purchase. In the US, BNPL provider Affirm became the first partner, enabling its instalment payment service to operate through the Visa card network.

The Flexible Credential fundamentally changes the relationship between a consumer and their payment card. Instead of carrying separate debit, credit, and rewards cards, a single Visa credential can function as any of these depending on the transaction. A consumer might pay for groceries using their debit balance, finance a larger purchase through BNPL instalments, and redeem loyalty points for a coffee, all on the same card.

For Liv, the UAE launch positions the digital bank as a regional innovation leader and provides its customers with a level of payment flexibility that is unprecedented in the Gulf market. The multi-currency dimension adds further utility for the UAE's internationally mobile population.

The Affirm integration in the US is equally significant, as it brings BNPL financing onto the Visa network's physical and digital acceptance points. This means Affirm's instalment service can be used at any merchant that accepts Visa, rather than being limited to merchants that have directly integrated with Affirm.

Visa said the Flexible Credential is available to issuers globally and expects additional launches across multiple markets.