Correcting and Replacing: Visa unveils Flex Credential in Vietnam, ushering in a new era of payment flexibility and financial empowerment for consumers

• Vietnam leads Southeast Asia in financial confidence and readiness for major purchases, Visa survey
• With Visa Flex Credential, consumers can seamlessly choose how they pay, via credit, debit, and more, all on a single credential, redefining the future of payments

According to Visa's latest Green Shoots Radar survey[1], Vietnamese consumers, especially Gen Z and Millennials, lead Southeast Asia in financial confidence and ambition. Today's young Vietnamese are prioritising investments in education (66%), healthcare (65%), electronics (63%), and travel (61%), showing a readiness to make big-ticket purchases and take control of their financial futures.

Visa Flex Credential is reimagining the credential for the next generation, designed to put the power of choice directly in consumers' hands at every transaction – enabling them to opt for debit on daily purchases, credit for larger expenses, or even redeeming loyalty points when checking out, whether it's for everyday essentials or a dream vacation.

"Visa is committed to empowering consumers with innovative solutions that put them in control of their financial future. Flex Credential is Visa's breakthrough solution that enables the integration of multiple funding sources through a single card credential, providing cardholders with maximum flexibility to efficiently manage and utilize their payment forms. In specific markets^[3] such as the U.S. and UAE, Visa Flex Credential allows cardholders to choose to pay now or pay over time directly from the app, as well as access multiple currency accounts through a single credential – making cross-border payments simple and seamless. We are proud to bring this solution to Vietnam, making digital payments more accessible and contributing to Vietnam's digital and financial inclusion and overall economic growth," said Ms. Dung Dang, Visa Country Manager for Vietnam & Laos.

Mr. Nguyen Tam Khoa, Deputy Head of Consumer Division at ACB, shared: "The Visa Flex Credential truly speaks for itself, elevating the customer experience to a new level. While there are quite a few similar solutions in the market, the Visa Flex Credential stands out by meeting all customer needs, such as flexible payment source selection, a variety of transaction methods from offline to online, and the ability to choose from a wide range of suitable offers, all while ensuring independent, clear, and transparent spending management for each card."

Visa first launched Flex Credential in partnership with Sumitomo Mitsui Banking Corporation (SMBC) and Sumitomo Mitsui Card Company (SMCC), known as Olive, two years ago in Japan. Today, more than 5 million Olive account holders are benefitting from the Visa Flex Credential. The Olive card continues to outperform, with cardholder transactions averaging 40% higher than the national average in Japan over the past year. Visa and SMCC have expanded the Visa Flex Credential to support small businesses with the flexibility to switch between business and personal accounts using the same Olive card, enhancing access to credit and cash flow management.

Key features of Visa Flex Credential:

• Customisable payment options: Switch effortlessly between payment modes, such as debit, credit, prepaid, loyalty points etc. to suit different spending needs and having one credential for life.
• Advanced security protocols: Benefit from Visa's latest security technologies to stay protected against fraud.
• Personalised insights and control: Use AI-driven insights to better manage your finances and spending habits.
• Unified payment experience: Manage all your financial transactions through a single, easy-to-use platform.

Hashtag: #Visa #VisaFlexCredential #DigitalEconomy #AsiaCommercialJointStockBank(ACB) #ACBOneApp

The issuer is solely responsible for the content of this announcement.

References

1. ^{^} Media OutReach Newswire (www.media-outreach.com)
2. ^{^} Visa Flex Credential (www.visa.com.vn)
3. ^{^} markets (investor.visa.com)
4. ^{^} Cashless Day 2025 (www.visa.com.vn)