The New Visa Updates: Here Is How It Works

Author: Edeh Kelechi

Visa is one of the world’s major payment processors. It enables electronic money transfers between banks and other financial organizations. If you own a credit or debit card, there is a possibility that your card is Visa. 

Today, we’ll enlighten you on the latest Visa updates and how you can benefit from it. 

Visa’s Latest Updates

With some changes to its services and payment processing features, Visa has expanded its functionality beyond physical card payment. Among them are:

Visa Creator Program

If you pay attention to internet trends, you would have heard of the current crypto trend, NFT. Non Fungible Token (NFTs) is a new way for artists to monetize their work by selling it and receiving cryptocurrencies. Visa, on the other hand, wants to make it even easier and safer for creatives to learn and earn.

To actualize their intent, Visa launched the Creator Program to help entrepreneurs in the arts, fashion, music, and entertainment promote their businesses using NFTs!

How the Visa Creator Program works?

The Creator Program was designed to help digital creators. The one-year immersion program was created to empower digital creators by mentoring them in cryptocurrency programs and product strategies. Regardless of your experience in the cryptocurrency niche, you can participate in this program. Another intriguing aspect of this initiative is that Visa promises stipends for the participants.

Here are the program criteria:

• You must be at least 18 years old
• They do not accept PDF files, so you should include a link to your portfolio.
• You must be a digital creator.

It is important to note that applications for the program close on Wednesday, May 11, 2022. You can sign up here  to be a part of this program.

Visa Account Updater Service (VAU)

Visa Account Updater (VAU) is a secure payment service that enhances customer satisfaction, retention and loyalty, by exchanging updated account information between merchants and their Issuer. This service facilitates swift transaction without customers updating their account or card details on their favorite merchant(s) system. If it’s been tough for you to keep track of the businesses that have your card details on file or to update your merchant’s information when you get a new card, you don’t have to worry, VAU will take care of it.

How VAU Service Works?

The Visa Account Updater (VAU) ensures that businesses on an auto-bill payment plan receive updated card information. 

Here Is How It Works:

• Through VAU, your bank transmits updated card information to Visa.
• Your merchant bank gets all card-on-file data for auto-billing a few days before your billing date and delivers them to Visa via the VAU.
• Visa compares the information and sends the corrected one to your merchant’s bank, then update your information on their system within five days. Amazingly, you can still cancel subscription plans using your phone.

Conclusion

Visa continues to provide simple and safe methods for users to make payments swiftly. Visa keeps demonstrating this with a wide range of financial and creative services. VAU and Visa Creative Program are some great features that should be considered by digital creators sand online shoppers.