Why Visa Flexible Credential (VFC)?
Ease of implementation
A lender-driven solution that enables widespread Day 1 acceptance by merchants.
Speed to market availability
Single-sided solution with minimal to no merchant uplift, allowing for faster go-to-market.
Ecosystem of partners
Access Visa’s partner network for out-of-the-box Buy Now Pay Later (BNPL) solutions.
Customer retention and acquisition
Obtain and retain customers with payment flexibility that fits within their budget.
Provide consumers with payment flexibility
How Visa Flexible Credential works
- Customer applies
Customer sees the lender’s offer for a VFC credential payment option. - Lender assesses
Lender can then assess, approve and fund the VFC credential. - Customer sets repayment
Customer links card or account for repayment. - Customer gets Virtual Card
Customer can use credential to complete purchase. - Customer makes purchase
Customer’s transaction is authorised and cleared through VisaNet. - Lender sets auto draft
Lender auto drafts instalment at agreed frequency.
Featured partners
Still have questions?
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VFC is a physical and/or digital credential that allows lenders to offer instalment plans to their customers for purchases made anywhere Visa is accepted. Unlike VIS, Merchants don’t need to integrate to Visa Application Programming Interfaces (APIs) for customers to access the instalment plans offered by VFC. The credential supports multi or one-time use transactions. The credential can be used for both card-present (POS) and card-absent (e-commerce) transactions. Its primary use case is for pre-purchase, short tenure (i.e., Pay-in-4) plan types (for example, a cardholder selects a pay-in-four-instalments plan before making the purchase transaction).
VIS is a suite of APIs and related services and features that enable Participants to provide card-based instalment payment solutions to Cardholders. Visa Installments Solutions allows Eligible Cardholders the flexibility to pay for a purchase in equal payments over a defined period. Issuers can offer their Cardholders instalment payment options before, during, or post purchase. Merchant Participants, enabled by their Acquirers, can offer instalment payment options to Eligible Cardholders during the purchase experience.
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Effective 15 October 2022, Visa will introduce VFC in Saudi Arabia and the United Arab Emirates only. This new product is a prepaid consumer payment credential that enables instalment purchases globally.
Visa expects to make VFC available to issuers in other countries. Please refer to the latest Technical Letters and relevant Visa Business News announcements for the most up-to-date regional availability.
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Similar to standard credential processing, VFC transactions will be authorised for the full purchase amount and settled with the acquirer/merchant in full. The cardholder repays the BNPL Lender as agreed between cardholder and the lender.
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No. Merchants will be able to accept and process Visa Flexible Credential transactions like any other Visa product. There will be no integration effort required.
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Connect with your Account Executive to discover program enablement partners from the Visa Ready BNPL Partner Program. Visa clients will be able to directly leverage our Consulting and Analytics team to select their preferred partners, determine product fit, and build their VFC offering to meet their needs.