Visa Launches Digital Emergency Card Replacement
Amid the rise of digital wallet use across the globe – with some 74% of US travellers now using digital wallets on their trips – Visa has launched its Digital Emergency Card Replacement service, empowering financial institutions to offer their cardholders stress-free journeys worldwide.
The timing couldn’t be more important, with many soon undertaking their summer travel plans. The card provider’s new service delivers new digital card replacements on behalf of card issuers via text or email.
Once received, cardholders can authenticate and add a new card to their digital wallet, representing a fast and secure solution that offers peace of mind to travellers who lose their card, effectively boosting customer satisfaction rates.
Visa: Complementing Global Customer Assistance Services
Meeting customer demand for more seamless and secure digital payments, Visa’s Digital Emergency Card Replacement service also provides additional support to its Global Customer Assistance Services, while providing an added layer of security to card issuers’ own emergency services.
Visa’s Global Customer Assistance Services currently operates across five continents, leveraging a robust distribution network, established partnerships and rapid card production and delivery to support card issuers in today’s increasingly digital environment.
The service manages over three million multilingual interactions annually and now receives a significant boost of support from the new Digital Emergency Card Replacement service.
Kathleen Pierce-Gilmore, Global Head of Issuing Solutions at Visa, says: “We've all felt that moment of panic while on vacation – the loss of a card and the feeling of being stranded.
“Our new digital emergency card solution addresses these very issues. It offers instant, secure access to funds for travellers, while enabling issuers to deliver superior customer service. It's a win-win, demonstrating the power of digital payments to improve experiences for everyone.”
In addition to Visa’s new service launch, it has provided comprehensive advice for travellers, helping them augment their use of digital payments.
- Go Digital: Travellers can reduce the inconveniences of cash by pre-loading Visa cards into digital wallets.
- Stay Informed: By activating transaction alerts, travellers can track spending in real time and detect fraudulent activity early.
- Quick Card Replacement: Travellers should report lost cards immediately. If supported by the issuer, Visa's service promptly provides a digital replacement.
- Alert Your Bank: Travellers should contact their card issuer before their trip to ensure the card will work in the countries to be visited.
- Opt to Pay in Local Currency: It is typically more cost-effective for travellers to choose to pay in the local currency when given the option.
The launch of Visa’s new service comes after it extended a 40-year-long partnership with Lloyds Banking Group, providing the bank’s debit and credit cardholders with new innovative products and services as a preferred scheme partner.
Its Digital Emergency Card Replacement is also not the only development from Visa in the protection and security space either. In May this year, Visa announced its new generative AI-powered fraud solution – Visa Account Attack Intelligence (VAAI) Score, to help identify the likelihood of enumeration attacks in card-not-present transactions.
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