PRNewswire
Singapore, May 30: The future of commerce in Asia Pacific is on display at the Visa Asia Pacific Media Showcase, where the company announced a suite of product innovations and strategic partnerships to enable a new era of commerce for the region. World leader in digital payment technology announces new innovation and partnerships in Asia Pacific. Launches new products and partnerships to drive flexibility, security, and acceptance for the region.
Jack Forestell, Visa’s Chief Product and Strategy Officer said, “Combining the strength of our global network with our leadership in payment innovation here in Asia Pacific, we are bringing new products and solutions that will transform commerce and deliver trust and security to AI-enabled payments across the region.”
The Visa Asia Pacific media showcase highlighted how AI-enabled digital commerce will significantly change the way consumers across the region discover and purchase products and services. In the near future, AI agents will browse, select, purchase, and manage transactions on behalf of users, making trust in payments more important than ever. Visa’s new AI-enabled solutions offer regional partners including AI platforms, fintechs, banks, and merchants a seamless way to connect to the Visa network to deliver secure, frictionless payment experiences.
Headlining today’s announcement, the company introduced Visa Intelligent Commerce, a new initiative that opens Visa’s payments network to developers and engineers building the first generation of AI-powered commerce in Asia Pacific.
Visa Intelligent Commerce: A New Era for Asia Pacific
Visa Intelligent Commerce brings a suite of integrated APIs and a commercial partner program to AI platforms, enabling developers to deploy Visa’s AI commerce capabilities securely and at scale. Visa announced today that it is in explorations with Ant International, Grab and Tencent to grow AI commerce by enabling a secure and seamless checkout experience.
Ant International is a leading global digital payment, digitisation, and financial technology provider. Grab is Southeast Asia’s leading super app offering ride-hailing, food delivery, digital payments, and financial services across eight markets. Tencent is a multinational technology leader that develops a wide range of digital products and services, including Weixin/WeChat, China’s super app.
Over the past 25 years, Visa’s global network has handled 3.3 trillion transactions. Today, Visa is advancing its infrastructure, standards, and capabilities to power AI-driven commerce, opening new opportunities for consumers across Asia Pacific. Soon, AI agents integrated into familiar platforms will be able to transact using Visa’s 4.8 billion credentials at millions of merchant locations worldwide.
T.R. Ramachandran, Head of Products and Solutions, Asia Pacific, Visa, said, “As global commerce continues to evolve rapidly, Visa remains at the forefront of delivering innovations that will enable the future of commerce across Asia Pacific.”
“We believe AI agents will play a growing role in commerce, from handling routine purchases such as ordering food, to more complex purchases such as securing event tickets or making travel reservations,” added Ramachandran. “By combining AI capabilities with Visa’s trusted payment infrastructure, we are enabling a seamless, secure, and more enjoyable experience for consumers, merchants, and businesses alike.”
New Products and Capabilities for Asia Pacific
Visa continues to expand its product portfolio with solutions designed to support the evolving payment needs of consumers and businesses across Asia Pacific.
Stablecoins: Visa has been facilitating cryptocurrency transactions for over five years and is now expanding its offering to include stablecoin-backed cards, settlement, and programmable money. On and off-ramps via stablecoin-backed cards allow consumers to use their Visa credentials to buy stablecoins with fiat currency and pay with stablecoin across Visa-accepting merchant locations. In Asia Pacific, Visa is partnering with DCS Singapore, DTC Pay and StraitsX on stablecoin-backed cards that support conversion through regulated infrastructure.
Enabling seven-day-a-week settlement for stablecoins: Visa has settled more than $225 million to date in stablecoin volume that has been settled through Visa across participating clients. In Asia Pacific, Visa is working with StraitsX for stablecoin settlement.
Through the Visa Tokenized Asset Platform (VTAP), Visa provides a platform for our partners to issue and manage fiat-backed tokens, offering interconnectivity to public and private blockchains, enabling programmable financing, trading of tokenized assets and facilitating cross-border money movement. Visa is looking to expand the availability of VTAP to more partners later this year and into 2026.
Flex Credential: Visa’s Flex Credential, a next-generation card that allows users to toggle between debit, credit, and reward points, continues to gain traction in Asia Pacific. Visa first launched Flex 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. Visa is also collaborating with local banks to launch Flex Credential in Vietnam in the next few months.
New Strategic Partnerships to Enable More Ways to Pay and Get Paid
Visa is launching new services and partnerships to make it easier for consumers, merchants, and businesses in Asia Pacific to pay and get paid.
Visa Pay: A service designed to connect any participating wallet to any Visa-accepting merchant, local or international, in-store or online, launches across Asia Pacific, home to the largest number of digital wallet users. Through partnerships with leading players including LINE Pay in Taiwan, Maya in the Philippines, OpenRice in Hong Kong, and Woori Card in South Korea, Visa is expanding access to its global network, giving consumers more ways to pay globally by tapping, scanning or online.
Digital Identity: This suite of solutions includes Passkeys, Tap to Confirm, and enhanced data which are meant to identify and authenticate digital users. These solutions will reduce friction for consumers by being digitally native while improving payment security and authorisation rates with enhanced transaction data and state-of-the-art fraud prevention techniques. New partners in the region include Coles, a supermarket chain in Australia and Maybank, a leading financial services provider in Malaysia and Southeast Asia.
Visa Accept is a new solution that allows micro-sellers to receive payments directly to their eligible Visa debit card using any NFC-enabled smartphone. Launching in Vietnam, the service supports micro-entrepreneurs and informal sellers such as street vendors, freelancers, and rural service providers. Participating issuers will enable cardholders to accept contactless payments through their bank’s mobile app.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at www.visa.com.sg.
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