SAN FRANCISCO— Visa has announced major changes to how its credit and debit cards will operate in the U.S. in the coming months and years.
“The new features could mean Americans will be carrying fewer physical cards in their wallets, and will make the 16-digit credit or debit card number printed on every card increasingly irrelevant,” the Associated Press reported.
“They will be some of the biggest changes to how payments operate in the U.S. since the U.S. rolled out chip-embedded cards several years ago,” according to the AP. “They also come as Americans have many more options to pay for purchases beyond ‘credit or debit,’ including buy now, pay later companies, peer-to-peer payment options, paying directly with a bank, or digital payment systems like Apple Pay.”
A Milestone
Added Mark Nelsen, Visa’s global head of consumer payments, in an interview with AP, “I think (with these features) we’re getting past the point where consumers may never need to manually enter an account number ever again.”
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