Vietnam's First AI-Powered PayLater Card Set to Transform Financial Inclusion in 2026

Visa Helps Launch Vietnam's First AI-Powered Pay-Later Card | PYMNTS.com

The card is being rolled out in collaboration with Visa-owned financial transaction processing platform Pismo and neobank Circle Asia Technologies, the payments giant said in a Thursday (Dec. 4) news release. Visa added that the card, scheduled to be introduced in phases in the early part of next year, is being designed to break down the barriers the company says have led to low credit card penetration in Vietnam. "Powered by AI, it will offer users a seamless way to build credit with instant approval, make payments globally and manage their finances with unprecedented ease and security bypassing the need for a bank account," the release said. "Using AI modeling, Circle can determine risk and underwrite a customer with an active virtual credit card that also offers flexible installment features as part of Circle PayLater, in under five minutes." The release notes that, despite being acquired by Visa last year, Pismo is still "network-agnostic," continuing to work with a variety of card networks. "Our collaboration with Circle and Visa underscores how uniting modern core processing technology with trusted global payments capabilities enables new, more transparent, and more accessible consumer experiences," said Varun Dudeja, Pismo's head of business development for the Asia Pacific (APAC) region. "This collaboration further accelerates the momentum toward a smarter and more inclusive digital financial ecosystem." The partnership comes as consumers continue to embrace pay-later offerings, particularly younger consumers, as recent PYMNTS Intelligence data shows. The research has also found that consumers are using buy now, pay later (BNPL) plans responsibly and strategically. In her analysis of BNPL, published here in October, PYMNTS CEO Webster said between 97% and 98% of BNPL users manage their installment obligations on schedule. The data showed that 23.4% of consumers use BNPL for scheduling flexibility, 24.1% because it does not feel like accruing new debt and 23.3% because it provides better control over payments. "In an inflationary year, this disciplined use of installments represents financial breathing room for consumers. It's something issuers, merchants and households can be thankful for, a flexible tool that enhances stability without introducing disproportionate risk," PYMNTS wrote last week.

Circle Collaborates with Pismo and Visa to Launch Vietnam's First AI-Powered PayLater Card

Powered by Pismo's API-driven platform, Circle is accelerating financial inclusion and setting a new benchmark for digital credit in Vietnam with its planned launch of PayLater cards in 2026 Visa, a world leader in digital payments, and Pismo today jointly announced a strategic collaboration with Circle Asia Technologies, a pioneering credit-led neobank in Southeast Asia, to unlock credit for millions in Vietnam. This will enable Circle to launch the nation's first truly AI-powered PayLater card aiming to set new standards for transparency, personalization, and user experience in the financial industry. Scheduled for a phased rollout in early 2026, the card is being engineered to dismantle the barriers that have led to Vietnam's low credit card penetration. Powered by AI, it will offer users a seamless way to build credit with instant approval, make payments globally and manage their finances with unprecedented ease and security bypassing the need for a bank account. Using AI modeling, Circle can determine risk and underwrite a customer with an active virtual credit card, that also offers flexible installment features as part of Circle PayLater, in under 5 minutes. This groundbreaking initiative is possible through a strategic collaboration with one of Vietnam's largest and most trusted commercial banks, ensuring robust compliance and market scale. "Our mission is to deliver a seamless, rewarding and inclusive financial experience for Vietnamese consumers," said Arnab Ghosh, Founder & CEO at Circle Asia Technologies. "Circle is fundamentally redesigning the financial experience for consumers in Vietnam. We believe that by starting with a truly modern credit product, we can build a deeper, more valuable relationship with our customers than traditional banks or debit-focused neobanks ever could. Working with Pismo and Visa enables us to innovate rapidly and offer unmatched convenience and security." "Our collaboration with Circle and Visa underscores how uniting modern core processing technology with trusted global payments capabilities enables new, more transparent, and more accessible consumer experiences. This collaboration further accelerates the momentum toward a smarter and more inclusive digital financial ecosystem," says Varun Dudeja, Head of Business Development, APAC at Pismo. "At Visa, we believe innovation in payments is key to unlocking financial inclusion and empowering consumers. Our collaboration with Circle and Pismo brings together advanced AI technology and Visa's trusted global network to deliver secure, seamless, and personalized payment experiences for the Vietnamese market. We are proud to support Vietnam's digital transformation and help set new standards for transparency, convenience, and security in financial services," says Julie Hsiao, Head of Value-Added Services, Southeast Asia, Visa. Pismo delivers a robust API and microservices-based platform designed for continuous innovation and resilient performance. Acquired by Visa in 2024, Pismo remains network-agnostic, continuing to work with multiple card networks. The integration of Pismo's technology with Visa's global infrastructure is accelerating the modernization of core banking and payment capabilities through cloud-native APIs -- empowering financial institutions and fintechs to scale rapidly and offer advanced value-added services.