Consumers want greater control over multiple credit and debit cards within a single platform, pushing banks to rethink how they deliver rewards, installment plans, and payment choices, according to Visa.
“They want the flexibility to choose among cards and alternative payment methods so they can maximise rewards for different types of spending while retaining visibility and control over their transactions,” Prateek Sanghi, head of Visa Consulting and Analytics for Asia-Pacific, told Asian Banking & Finance.
Customers increasingly expect to switch easily between cards, pay using points, and access installment options customised to their preferences.
“Consumers now look for real-time, personalised experiences that anticipate their needs and help them make smarter financial decisions,” Sanghi said in an emailed response.
Despite this rising demand, many banks continue to prioritise infrastructure upgrades rather than building the analytics and decision-making capabilities needed to deliver seamless, data-driven customer journeys.
“The banks that move fastest are those that identify where digital friction or value leakage occurs and then concentrate resources on the actions most likely to influence spending, engagement, or risk outcomes,” Sanghi said, adding that this approach replaces intuition with clearer insights and faster execution.
Visa has supported Southeast Asian banks in rolling out mobile app interfaces that allow customers to easily access multiple funding sources. One bank expects more than 150,000 new account openings and aims to lift non-card usage by 10% in its first year, Sanghi said.
Another lender doubled the number of cards in circulation and increased payment volumes by over 20% after launching a programme guided by Visa’s data analytics.
Artificial intelligence and large language models are also transforming how Visa collaborates with financial institutions.
“As consumers increasingly rely on AI agents to recommend and complete purchases, financial institutions must ensure their products are visible, reliable, and trusted in AI-driven journeys,” Sanghi said.
AI is also enabling agentic workflows within banks by automating labour-intensive processes such as dispute handling, customer servicing, and enquiries, while supporting faster, data-driven decisions for both staff and customers.
In addition, Visa has launched a global stablecoin advisory practice to help clients evaluate market readiness, identify use cases, and integrate the technology required to adopt new payment rails.
Click here for more on Business
