Visa and FIS have deepened their partnership to introduce a suite of enhanced payment features aimed at empowering financial institutions of all sizes.
Announced on Thursday (June 26), the expanded offerings include stop payment services that allow cardholders and call centers to block recurring charges, as well as a wallet integration feature to streamline the addition of branded digital cards into consumers’ wallets. The companies are also rolling out advanced fraud mitigation tools designed to improve eCommerce approval rates and reduce chargeback liabilities stemming from fraudulent transactions.
Additionally, the duo will launch a digital campaign manager to support banks in exploring new marketing avenues, such as augmented reality events and immersive digital experiences.
These solutions are expected to be available to FIS client issuers by year-end.
Chris Como, Head of Cards and Money Movement at FIS, emphasized the goal of equipping smaller institutions with tools that rival those of larger banks. “By integrating Visa’s innovations into our platform, we’re helping smaller providers compete more effectively and expand access to modern financial technology,” he said.
Kathleen Pierce-Gilmore, SVP and Global Head of Visa Issuing Solutions, echoed this sentiment, highlighting the collaboration’s role in helping institutions retain customers and accelerate growth.
The announcement aligns with findings from the PYMNTS Intelligence report, which notes that Gen Z and millennial customers are leaning toward community banks and credit unions that offer personalized service and strong digital capabilities.
Separately, earlier this month, FIS revealed a partnership with Episode Six to launch a cloud-native platform aimed at modernizing card-issuing infrastructure for financial institutions.
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News Source: Pymnts.com
