digital credential<\/a> changes everything because the credential can support a broader range of payment types and the surrounding digital experiences. \u201cTo me, everything comes down to the consumer,\u201d he said. \u201cWhat a consumer ultimately wants is the holistic end-to-end capability, and they want to know that everything surrounding the payment is also taken care of.\u201d<\/p>\nA credential, he added, is inherently more secure and easier to deploy across new rails. It gives issuers the ability to future-proof payment experiences by building intelligence and orchestration layers once, then applying them across use cases as new payment types emerge.<\/p>\n
Advertisement: Scroll to Continue<\/p>\n
Why Smart Onboarding Matters<\/p>\n
Chen defined smart onboarding as giving consumers the right financial tools, guidance and digital experiences on day one. \u201cSmart onboarding is all about how you set a consumer up with the right set of financial support, the right set of digital experiences on day one, so that it works seamlessly always on behind the scenes on the consumer\u2019s behalf,\u201d he said.<\/p>\n
Visa is pairing near real-time authorization data with new front-end experiences that issuers can use inside their own mobile apps. This allows consumers to share preferences with their issuers, articulate financial goals and receive personalized content promptly.<\/p>\n
That data, combined with existing payments intelligence, becomes the engine for recommendations, alerts and ongoing optimization.<\/p>\n
One early use case gaining traction is personal financial management. Chen said consumers can declare spending goals and receive tailored offers or monthly tracking updates. \u201cThat\u2019s one example of Visa is helping issuers collect new information \u2014 with consumer consent \u2014 to ultimately drive towards better personalized outcomes,\u201d he told PYMNTS.<\/p>\n
Fixing Traditional Onboarding Pain Points<\/p>\n
Legacy onboarding still breaks easily. When a consumer loses a card, for example, they typically reenter the new card number into Apple Pay or other digital wallets. Issuers must depend on fragmented processes that fail to carry over stored credentials or preferences.<\/p>\n
Chen described the old model as a mix of technical and process limitations. \u201cOftentimes folks who handle the process say it\u2019s a tech challenge, folks who handle the tech side say it\u2019s a process challenge, and you can\u2019t get to where you need to go without the other,\u201d he observed. The deeper blocker, he added, is infrastructure. Many issuers still run batch-based systems that cannot capture or act on real-time information.<\/p>\n
In contrast, Visa is building capabilities to help issuers automatically replace compromised card numbers and remap the associated digital credentials. The consumer no longer needs to reload wallets or reconfigure apps. \u201cIt enables way more seamless experiences for the consumer so that they can get back to spending without a lot of the heavy manual work,\u201d Chen said.<\/p>\n
The Urgency Behind Personal Finance and Data-Driven Journeys<\/p>\n
The \u201cBeyond the Card\u201d focused on what consumers are looking for, and how Issuers can ensure they are putting consumers first, detailing Visa\u2019s efforts to support those issuers.<\/p>\n
Visa sees growing demand for onboarding that immediately sets consumers up with actionable insights, debt-management tools and credit-score tracking. The availability of high-quality near real-time data allows issuers to embed these capabilities in a way that matches consumer expectations and addresses long-standing gaps in financial literacy and support.<\/p>\n
Chen said Visa\u2019s priority is maximizing consumer choice by designing credentials that travel across payment types and enable consistent digital experiences \u2014 guided by a principle of orchestrating solutions \u201cin such a way where you maximize the optionality that consumers have so they ultimately can decide what works best for them,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"Digital credentials are reshaping payments as consumers gravitate toward payment methods that work instantly, securely and consistently across…\n","protected":false},"author":2,"featured_media":218620,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[30383,865,7611,342,111,43,139,69,739,20037,145,416,10708],"class_list":{"0":"post-218619","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-credit-cards","9":"tag-digital-transformation","10":"tag-main-feature","11":"tag-mobile","12":"tag-new-zealand","13":"tag-news","14":"tag-newzealand","15":"tag-nz","16":"tag-pymnts-news","17":"tag-pymnts-tv","18":"tag-technology","19":"tag-video","20":"tag-visa"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/218619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=218619"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/218619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/218620"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=218619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=218619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=218619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}