Digital payments giant Visa has introduced a new feature in Vietnam, dubbed Visa Flex Credential. This initiative offers customers greater flexibility and control over their spending methods.

One of the first financial institutions to adopt this solution is Asia Commercial Joint Stock Bank (ACB), which rolled out Visa Flex Credential through its ACB One app. The Vietnam International Commercial Joint Stock Bank (VIB) is also expected to follow suit using its MyVIB application.

By the end of 2025, Visa aims for more banks and financial institutions to extend Flex Credential services across a wider audience in Vietnam, enhancing various transaction scenarios. The feature allows cardholders to switch between debit and credit transactions seamlessly within the app, catering to diverse spending needs.

Visa Flex Credential empowers users with direct control over each transaction. Customers can opt for debit payments for daily purchases, use credits for larger expenses, or even redeem loyalty points at checkout—whether for essential items or travel arrangements.

Additionally, the feature supports paying overtime directly from the application and managing multiple currency accounts under one credential, streamlining financial management.

According to Visa’s recent Green Shoots Radar survey, Gen Z and Millennial Vietnamese consumers are optimistic about their financial futures. They prioritize investments in education, healthcare, electronics, and travel.

Key features of Visa Flex Credential include:
– Customizable payment options: Users can select between debit, credit, prepaid, loyalty points, etc., to fit their spending needs.
– Enhanced security measures: Customers enjoy advanced Visa security technologies that protect against fraud.
– Personalized insights and control: AI-driven tools help users manage finances and spending habits more effectively.
– Unified payment experience: All financial transactions are managed through a single, user-friendly platform.

Visa is partnering with ACB to support Cashless Day 2025, a local effort aimed at promoting digital financial services adoption in the country.

Visa first launched Flex Credential alongside Sumitomo Mitsui Banking Corporation (SMBC) and Sumitomo Mitsui Card Company (SMCC), known as Olive, two years ago in Japan. Today, five million Olive account holders benefit from Visa Flex Credential, with transactions averaging 40% higher than the national average over the past year. The service also assists small and medium-sized enterprises by enabling flexibility to switch between business and personal accounts using a single card, optimizing credit access and cash flow management.