VFC is a physical and/or digital credential that allows lenders to offer instalment plans to their customers for purchases made anywhere Visa is accepted. Unlike VIS, Merchants don’t need to integrate to Visa Application Programming Interfaces (APIs) for customers to access the instalment plans offered by VFC. The credential supports multi or one-time use transactions. The credential can be used for both card-present (POS) and card-absent (e-commerce) transactions. Its primary use case is for pre-purchase, short tenure (i.e., Pay-in-4) plan types (for example, a cardholder selects a pay-in-four-instalments plan before making the purchase transaction).
VIS is a suite of APIs and related services and features that enable Participants to provide card-based instalment payment solutions to Cardholders. Visa Installments Solutions allows Eligible Cardholders the flexibility to pay for a purchase in equal payments over a defined period. Issuers can offer their Cardholders instalment payment options before, during, or post purchase. Merchant Participants, enabled by their Acquirers, can offer instalment payment options to Eligible Cardholders during the purchase experience.