Skip to Content Facebook Feature Image

Changes from Visa mean Americans will carry fewer physical credit, debit cards in their wallets

ENT

Changes from Visa mean Americans will carry fewer physical credit, debit cards in their wallets
ENT

ENT

Changes from Visa mean Americans will carry fewer physical credit, debit cards in their wallets

2024-05-16 05:00 Last Updated At:05-17 10:50

NEW YORK (AP) — Your wallet may soon be getting thinner.

Visa on Wednesday announced major changes to how credit and debit cards will operate in the U.S. in the coming months and years.

The new features could mean Americans will be carrying fewer physical cards in their wallets, and will make the 16-digit credit or debit card number printed on every card increasingly irrelevant.

They will be some of the biggest changes to how payments operate in the U.S. since the U.S. rolled out chip-embedded cards several years ago. They also come as Americans have many more options to pay for purchases beyond “credit or debit," including buy now, pay later companies, peer-to-peer payment options, paying directly with a bank, or digital payment systems like Apple Pay.

“I think (with these features) we’re getting past the point where consumers may never need to manually enter an account number ever again,” said Mark Nelsen, Visa’s global head of consumer payments, in an interview.

The biggest change coming for Americans will be the ability for banks to issue one physical payment card that will be connected to multiple bank accounts. That means no more carrying, for example, a Bank of America or Chase debit card as well as their respective credit cards in a physical wallet. Americans will be able to set criteria with their bank — such as having all purchases below $100 or with a certain merchant applied to the debit card, while other purchases go on the credit card.

The feature, already being used in Asia, will be available this summer. Buy now, pay later company Affirm is the first of Visa's customers to roll out the feature in the U.S.

Some of Visa’s new features are in response to online-payments fraud, which continues to increase as more countries adopt digital payments. The San Francisco-based company estimates that payment fraud happens roughly seven times more often online than it does in person, and there are now billions of stolen credit and debit card numbers available to criminals.

Other new elements are also in response to features that non-payments companies have rolled out in recent years. The Apple Card, which uses Mastercard as its payment network, does not come with a printed 16-digit account number and Apple Card users can request a fresh credit card number at any time without having to dispose of the physical card.

Visa executives see a future where banks will issue cards where the 16-digit account number, if the new cards come with them, is largely symbolic.

Among the other updates unveiled by Visa are changes to tap-to-pay features. Americans will be able to tap their credit or debit cards to their smartphones to add the card to mobile wallets, instead of using a smartphone's camera to scan in a card's information, or tap the card to their smartphones to approve a transaction online. Visa will also start implementing biometrics to approve transactions, similar to how Apple devices use a fingerprint or face scan to approve transactions.

The features will take time to filter down to the banks, which will decide when or what to implement for their customers. But since the banks and credit card companies are Visa's customers, and issue cards with the Visa label, these are features that the financial institutions have been asking for.

FILE - A Visa sign is displayed on the front door of a local business, April 27, 2021, in Urbandale, Iowa. Visa has announced major changes to how its credit and debit cards will operate in the U.S. Features in the works will lead to Americans to carry fewer physical cards in their wallets and make the 16-digit credit or debit card number printed on every physical card increasingly irrelevant. The new features unveiled Wednesday, May 15, 2024 will be some of the biggest changes to how payments operate since the U.S. rolled out chip-embedded cards several years ago. (AP Photo/Charlie Neibergall, file)

FILE - A Visa sign is displayed on the front door of a local business, April 27, 2021, in Urbandale, Iowa. Visa has announced major changes to how its credit and debit cards will operate in the U.S. Features in the works will lead to Americans to carry fewer physical cards in their wallets and make the 16-digit credit or debit card number printed on every physical card increasingly irrelevant. The new features unveiled Wednesday, May 15, 2024 will be some of the biggest changes to how payments operate since the U.S. rolled out chip-embedded cards several years ago. (AP Photo/Charlie Neibergall, file)

TBILISI, Georgia (AP) — Georgia’s president said Sunday she did not recognize the results of this weekend’s parliamentary vote, which election officials say was won by the ruling party, adding that the country fell victim to a “Russian special operation” aimed at moving it off a path toward Europe.

Standing alongside opposition leaders, President Salome Zourabichvili urged Georgians to rally Monday night on Tbilisi’s main street to protest what she called a “total falsification, a total stealing of your votes,” raising the prospect of further political turmoil in the South Caucasus nation.

She spoke the day after an election which could decide whether Georgia embraces Europe or falls under the sway of Russia.

“This election cannot be recognized, because it is the recognition of Russia’s intrusion here, Georgia’s subordination to Russia,” Zourabichvili said.

The Central Election Commission said Sunday that the ruling party, Georgian Dream, got 54.8% of Saturday’s vote with almost 100% of ballots counted.

Georgian Dream has become increasingly authoritarian over the past year, adopting laws similar to those used by Russia to crack down on freedom of speech. Brussels suspended Georgia’s EU membership process indefinitely because of a Russian-style “foreign influence law,” passed in June. Many Georgians viewed Saturday’s vote as a referendum on the opportunity to join the European Union.

The election campaign in the South Caucasus nation of 3.7 million people, which borders Russia, was dominated by foreign policy and marked by a bitter fight for votes and allegations of a smear campaign.

Zourabichvili suggested “Russian elections” were held in the country, and said “technology was used to whitewash counterfeiting. Such a thing has never happened before.”

European electoral observers said the election took place in a “divisive” environment marked by intimidation and instances of vote buying, double voting and physical violence.

During the campaign, Georgian Dream used “anti-Western and hostile rhetoric ... promoted Russian misinformation, manipulations, and conspiracy theories,” said Antonio López-Istúriz White, the head of the European Parliament monitoring delegation.

“Paradoxically, the government further claimed that it was continuing Georgia’s European integration,” he added.

The conduct of the polls, he said, is more evidence that points to the ruling party’s “democratic backsliding.”

President of the European Council Charles Michel said he called on Georgia’s officials to “swiftly, transparently and independently investigate” the electoral irregularities and called on the ruling party to demonstrate its “firm commitment” to the EU.

Prime Minister Irakli Kobakhidze on Sunday described Georgian Dream’s victory as “impressive and obvious,” and said “any attempts to talk about election manipulation ... are doomed to failure.”

Hungary’s Victor Orbán was the first foreign leader to congratulate Georgian Dream and will be the first foreign leader to visit Georgia and meet the prime minister when he visits the capital for a visit Monday and Tuesday.

Georgian electoral observers, who were stationed across the country, also reported multiple violations and said the results do not reflect “the will of the Georgian people.”

In the capital Tbilisi, Tiko Gelashvili, 32, said, “The results that were published are just lies and rigged.”

Initial figures suggested turnout in the vote was the highest since Georgian Dream was first elected in 2012.

The United National Movement opposition party said its headquarters were attacked on Saturday while Georgian media reported two people were hospitalized after being attacked outside polling stations.

“The most important question is whether or not these elections will be recognized by the international community,” said Natia Seskuria, executive director of the Regional Institute for Security Studies in Tbilisi. Georgia’s “economic and political prospects” hinge on the election, she said.

Georgians have a complex relationship with Russia, which ruled it from Moscow until Georgia gained independence from the Soviet Union in 1991. Russia and Georgia fought a short war in 2008, and Moscow still occupies 20% of Georgia’s territory.

Despite that, Georgian Dream has adopted Russia-style laws and many Georgians fear the government is distancing the country from the West and into Moscow’s orbit.

The election observers said instances of intimidation and electoral violations were particularly noticeable in rural areas.

Georgian Dream scored its highest share of the vote — polling almost 90% — in the Javakheti region of southern Georgia, 135 kilometers (83 miles) west of the capital. In Tbilisi, it got no more than than 44% of the vote in any district.

Javakheti is predominantly agricultural and many people are ethnic Armenians who speak Armenian, Russian and limited Georgian. Before the election, the AP traveled to the region where voters suggested they were instructed how to vote by local officials. Several questioned why Georgia needed a relationship with Europe and suggested it would be better off allied with Moscow.

Associated Press journalists Sophiko Megrelidze, in Tbilisi, and Raf Casert, in Brussels, contributed to this report

In this photo released by Georgian Presidential Press Office, Georgian President Salome Zourabichvili, center, speaks to the media after voting at a polling station during the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (Georgian Presidential Press Office via AP)

In this photo released by Georgian Presidential Press Office, Georgian President Salome Zourabichvili, center, speaks to the media after voting at a polling station during the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (Georgian Presidential Press Office via AP)

In this photo taken from video released by Georgian Dream Party on Sunday, Oct. 27, 2024, Georgian Prime Minister Irakli Kobakhidze addresses after the parliamentary election in Tbilisi, Georgia. (Georgian Dream Party via AP)

In this photo taken from video released by Georgian Dream Party on Sunday, Oct. 27, 2024, Georgian Prime Minister Irakli Kobakhidze addresses after the parliamentary election in Tbilisi, Georgia. (Georgian Dream Party via AP)

Georgian President Salome Zourabichvili attends an opposition rally ahead upcoming next week parliamentary election in Tbilisi, Georgia, Sunday, Oct. 20, 2024. (AP Photo/Zurab Tsertsvadze)

Georgian President Salome Zourabichvili attends an opposition rally ahead upcoming next week parliamentary election in Tbilisi, Georgia, Sunday, Oct. 20, 2024. (AP Photo/Zurab Tsertsvadze)

Nika Gvaramia, leader of Coalition for Changes, left, speaks to the media as and Nana Malashkhia, who leads the Coalition for Change parliament list, right, stands near, at coalition's headquarters after the parliamentary election in Tbilisi, Georgia, Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

Nika Gvaramia, leader of Coalition for Changes, left, speaks to the media as and Nana Malashkhia, who leads the Coalition for Change parliament list, right, stands near, at coalition's headquarters after the parliamentary election in Tbilisi, Georgia, Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

In this photo taken from video, Georgian President Salome Zourabichvili, center, surrounded by opposition leaders speaks to the media after the parliamentary election in Tbilisi, Georgia, on Sunday, Oct. 27, 2024. (AP Photo/Kostya Manenkov)

In this photo taken from video, Georgian President Salome Zourabichvili, center, surrounded by opposition leaders speaks to the media after the parliamentary election in Tbilisi, Georgia, on Sunday, Oct. 27, 2024. (AP Photo/Kostya Manenkov)

In this photo taken from video, Georgian President Salome Zourabichvili, left, speaks to the media as speaks to the media as and Nana Malashkhia, who leads the Coalition for Change parliament list, right, stands near, after the parliamentary election in Tbilisi, Georgia, on Sunday, Oct. 27, 2024. (AP Photo/Kostya Manenkov)

In this photo taken from video, Georgian President Salome Zourabichvili, left, speaks to the media as speaks to the media as and Nana Malashkhia, who leads the Coalition for Change parliament list, right, stands near, after the parliamentary election in Tbilisi, Georgia, on Sunday, Oct. 27, 2024. (AP Photo/Kostya Manenkov)

Elene Khoshtaria, chair of United National Movement, speaks to the media at the coalition's headquarters after the parliamentary election in Tbilisi, Georgia, early Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

Elene Khoshtaria, chair of United National Movement, speaks to the media at the coalition's headquarters after the parliamentary election in Tbilisi, Georgia, early Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

Elene Khoshtaria, chair of United National Movement, center, speaks to the media, accompanied by Zurab Japaridze, chairman of the Girchi More Freedom party, left; Nika Melia, a leader of Coalition for Changes, second left; Nika Gvaramia, leader of Coalition for Changes, second right, and Nana Malashkhia, who leads the Coalition for Change parliament list, right, at the coalition's headquarters after the parliamentary election in Tbilisi, Georgia, early Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

Elene Khoshtaria, chair of United National Movement, center, speaks to the media, accompanied by Zurab Japaridze, chairman of the Girchi More Freedom party, left; Nika Melia, a leader of Coalition for Changes, second left; Nika Gvaramia, leader of Coalition for Changes, second right, and Nana Malashkhia, who leads the Coalition for Change parliament list, right, at the coalition's headquarters after the parliamentary election in Tbilisi, Georgia, early Sunday, Oct. 27, 2024. (AP Photo/Zurab Tsertsvadze)

From left, Nika Melia, Nika Gvaramia, leaders of Coalition for Changes, and Nana Malashkhia, who leads the Coalition for Change parliament list, react while talking to journalists at coalition's headquarters after polls closing at the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Zurab Tsertsvadze)

From left, Nika Melia, Nika Gvaramia, leaders of Coalition for Changes, and Nana Malashkhia, who leads the Coalition for Change parliament list, react while talking to journalists at coalition's headquarters after polls closing at the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Zurab Tsertsvadze)

FILE - Billionaire Bidzina Ivanishvili, leader of the created by him the Georgian Dream party gestures greeting demonstrators during a rally in Tbilisi, Georgia, on April 29, 2024. (AP Photo/Shakh Aivazov, File)

FILE - Billionaire Bidzina Ivanishvili, leader of the created by him the Georgian Dream party gestures greeting demonstrators during a rally in Tbilisi, Georgia, on April 29, 2024. (AP Photo/Shakh Aivazov, File)

FILE - Billionaire Bidzina Ivanishvili, leader of the created by him the Georgian Dream party greets demonstrators during a rally in Tbilisi, Georgia, on April 29, 2024. (AP Photo/Shakh Aivazov, File)

FILE - Billionaire Bidzina Ivanishvili, leader of the created by him the Georgian Dream party greets demonstrators during a rally in Tbilisi, Georgia, on April 29, 2024. (AP Photo/Shakh Aivazov, File)

Members of an election commission count ballots at a polling station after the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Kostya Manenkov)

Members of an election commission count ballots at a polling station after the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Kostya Manenkov)

Members of an election commission count ballots at a polling station after the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Kostya Manenkov)

Members of an election commission count ballots at a polling station after the parliamentary election in Tbilisi, Georgia, Saturday, Oct. 26, 2024. (AP Photo/Kostya Manenkov)

Recommended Articles