Visa urges banks to bridge data gap as payment choice surges

One bank doubled its cards in force and grew payment volumes by over 20%.

Consumers are demanding more control over multiple credit and debit cards in a single platform, prompting banks to rethink how they offer rewards, installments, and payment options, Visa said.

“They want the freedom to choose across cards and alternative payment methods so they can optimise rewards for each type of spending whilst maintaining visibility and control over their transactions,” Prateek Sanghi, head of Visa Consulting and Analytics for the Asia-Pacific, told Asian Banking & Finance.

Customers increasingly expect the ability to switch between cards, pay with points, and access installment options tailored to their needs.

“Customers now expect real-time, tailored experiences that anticipate their needs and help them make better financial decisions,” Sanghi said in an emailed reply to questions.

Despite the demand, banks remain focused on upgrading infrastructure rather than developing the analytics and decision systems required for seamless, data-driven journeys.

“Banks that move fastest are those that diagnose where digital friction or value leakage occurs, then focus resources on the interventions most likely to shift spending, engagement, or risk outcomes,” Sanghi said.

“This replaces intuition with clarity and improves execution speed,” he added.

Visa has helped Southeast Asian banks implement mobile app interfaces allowing easy access to multiple funding sources. One bank projects more than 150,000 account openings and aims to boost usage in the non-card segment by 10% in its first year, Sanghi said.

Another bank doubled its cards in force and increased payment volumes by more than 20% after launching a program informed by Visa’s data analysis.

Artificial intelligence (AI) and large language models are reshaping how Visa works with financial institutions.

“As consumers increasingly rely on AI agents to recommend and complete purchases, financial institutions need to ensure their products are discoverable, accurate, and trusted in AI-led journeys,” Sanghi said.

AI also supports agentic workflows within banks, automating high-effort processes such as disputes, servicing, and inquiries whilst enabling faster, data-led decision-making for employees and customers.

Visa has also introduced a global stablecoins advisory practice to help clients assess market readiness, identify use cases, and integrate the technology needed to adopt new payment rails.