Visa has rolled out Visa Flexible Credential (VFC) on Zilch cards in the UK, in collaboration with issuer processing platform Thredd.
The launch is aimed at enabling more flexible payment options through a “single, familiar card experience”.
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Visa Flexible Credential is designed to let multiple payment options sit behind one card or digital credential.
Cardholders can use the same card and choose the preferred option for a purchase. Payments can still be made using existing methods, including in-store tap-to-pay and online checkout.
Visa said the launch aligns with growing demand for flexible payment experiences. The company cited research indicating that 87% of people surveyed in the UK say flexible payment options support their financial or lifestyle goals.
According to Visa, VFC is intended to help issuers offer choice through a credential that runs on Visa’s acceptance network, which reaches more than 150 million merchant locations worldwide.
Visa Europe Product and Solutions head Mathieu Altwegg said: “People increasingly want more flexibility and control over how they pay – particularly as their needs and circumstances change over time.
“Visa Flexible Credential gives issuers a simple way to offer that choice through one familiar card, while keeping the ease, security and global acceptance people already trust Visa for.”
Zilch chief technology officer Sean Hederman said: “Zilch’s promise is to provide everyone with a smarter way to spend. Visa’s Flexible Credential is a major capability in fulfilling that promise.
“Our work with Thredd and Visa creates better outcomes for users and merchants by intelligently routing backend processes that enhance the Zilch experience for customers, flexibly and seamlessly, and where every purchase is financed, optimised and rewarded in real time.”
Visa Flexible Credential will initially be available to Zilch customers in the UK, with potential expansion to other markets at a later stage.
In December last year, Zilch secured a payments services licence from the UK’s Financial Conduct Authority (FCA).
