From the wallet to the world
For most people, the debit card is the primary connection with the financial world. It fits in a jeans pocket, wallet or even the sleeve on a mobile phone case. It’s the conduit for accessing account balances, monitoring transactions, withdrawing cash and exercising full freedom as a consumer.
For all that, there was still something a debit card couldn’t do – pay a loan, either online or in-branch. And there are other limitations, such as recurring transfers and the ability to give collectors flexibility regarding payments and fees.
Those limitations are especially striking when you consider that debit cards were the most used form of bill payments overall at 29%, and accounted for 34% of online payments, based on results of 2009–20 Surveys of Consumer Payment Choice.
VisiFI Digital Pay changes the way debit cards can be used
As consumers, the idea of not being able to use your primary payments tool for something as basic as a loan payment feels limiting – especially as the recent pandemic fueled a more expansive digital environment. VisiFI seeks to continue the move toward flexibility with Digital Pay.