J.P Morgan partners Visa on real time card update offering

J.P Morgan has announced the launch of its Real Time Visa Account Updater (VAU) for European merchants in a new partnership with Visa.

Initially launched in the US, Real Time VAU allows businesses to update expired, cancelled or changed stored card details in real time. The bank said that this will “enhance the opportunity for a frictionless customer journey”.

In a press release, the bank explained that when an update is required, VAU now replaces the payment request with the updated card details as the payment is being processed and appears as a single transaction.

“Our collaboration with J.P. Morgan to bring Real Time VAU to Europe will bring huge benefits to merchants and cardholders,' said Mehret Habteab, VP digital products, Europe at Visa. “This much-anticipated launch simplifies the transaction process and enables more frictionless digital payment experiences that are so crucial to cardholders.”

Mobile top-up service Ding has become the first European client to launch on the new platform.

Micheál Egan, head of payments, Ding, commented: “We have seen first-hand how Real Time VAU addresses our customers’ needs in the moment.

“Automated top-ups are a growth area, and these ‘behind the scenes’ solutions will allow us to push the boundaries of what is possible.”

    Share Story:

Recent Stories


The human firewall: Activating employees to safeguard financial data
As financial services increasingly embrace SaaS and cloud-based technologies, they face emerging threats to safeguard sensitive customer data. While comprehensive IT security measures are essential, the active involvement of employees across organisations is pivotal in ensuring the protection of sensitive data.

Building a secure financial future for instant payments: The convergence of ISO 20022 and fraud detection
The financial landscape is rapidly evolving its approach to real-time transactions under the ISO 20022 standard, and financial institutions must take note. With examples such as the accelerated adoption of SEPA Instant Credit Transfers in Europe and proposed New Payment Architecture (NPA) programme in the UK, the need for swift and effective fraud detection is more crucial than ever.

Data Streaming and Consumer Duty: Transforming customer experience in banking
Introduced at the end of July, the Consumer Duty is a game-changing new set of rules and guidance for financial services institutions in the UK, and companies must look to modernise their systems in adherence with it in mind to create the best customer experience possible.

From insight to action: Empowering financial institutions through advanced technology and collaborative information sharing
The use of Information sharing in enhancing financial crime prevention has been universally agreed as being beneficial. However no-one has been able to agree on how information can be shared safely without breaching data protection laws or having the right systems to facilitate this, Information sharing has re-emerged as a major consideration for financial institutions (FIs) ahead of the Economic Crime and Corporate Transparency Bill being made into law in the UK.