Visa Flexible Credential (Visa Flex), one of Visa’s future-ready innovations, is a card that can be configured to function as a debit or credit card based on transaction value, merchant type, customer preference, and a bank’s risk appetite. The 16-digit credential of the card remains the same.
For example, users can choose to use the card as a debit card for small-value transactions, while higher-value purchases can be routed through credit.
“Many Indians carry more than one payment card. This can sometimes make choosing the right card or funding source (credit, debit, prepaid, instalments) cumbersome at merchant checkouts,” Sandeep Ghosh, group country manager, India and South Asia, Visa, told Business Standard.
India is an important market for the global card network, where it sees opportunity due to low credit penetration. Cash still accounts for nearly 50 per cent of consumer transactions in a market estimated at $1 trillion.
Ghosh said Visa Flex allows consumers the flexibility to switch between options like debit, credit, prepaid, and buy now-pay later by linking multiple funding sources into a single 16-digit Visa credential.
He explained that users can set simple, smart rules on their bank’s app, such as everyday domestic spends via debit card, high value purchases through credit, international spends on a forex card.
“This removes the need to swap cards at merchant checkouts (e-commerce sites or point-of sales, enabling the consumer to pay via a single credential, delivering a smoother, frictionless experience, and better cash flow control.”
Visa Flex was launched in Japan as Olive in partnership with Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Card Company. The card allows users to switch seamlessly between debit, credit, and reward points.
More than 5 million account holders now use Olive, with average transaction volumes 40 per cent above Japan’s national average last year. The card also supports small businesses by allowing users to switch between business and personal accounts using the same card, enhancing access to credit and cash-flow management.
“The solution has already been launched in Japan where it has been very successful. We are working to bring it to India, subject to full compliance and regulatory approvals,” he said.
In June last year, Visa launched similar services in Vietnam.
Visa’s approach in India, as elsewhere, is to partner rather than compete. A key part of its strategy is interoperability, the global payment network said.
Growth in India’s credit card base has been sluggish in the past couple of years. After growing by around 20 per cent in 2023, growth fell to about 10 per cent the following year and further slowed to 6.3 per cent year-on-year until November 2025. The total cards in force in India stand at 115 million, fewer than economies of similar or smaller size.
The growth of debit cards in India, which are about 1 billion, has been stagnant.
A fresh transaction
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The card will have the same 16-digit credential for both credit and debit card
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Card can be configured based on transaction limit or type of merchants
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It removes need to swap cards at merchant checkouts
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