Visa announced major changes to how credit and debit cards will operate in the U.S. in the coming months and years.
The biggest change will be the ability for banks to issue one physical payment card that will be connected to many bank accounts.NEW YORK --
"I think we're getting past the point where consumers may never need to manually enter an account number ever again," said Mark Nelsen, Visa's global head of consumer payments, in an interview. Some of Visa's new features are in response to online payment fraud, which continues to increase as more countries adopt digital payments. The San Francisco-based company estimates that payment fraud happens roughly seven times more often online than it does in person, and there are now billions of stolen credit and debit card numbers available to criminals.
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