Debit and credit cards could be replaced soon as payment companies develop technology that allows consumers to manage several payment methods through a single digital credential.
Companies are developing more flexible digital payment systems, but neither has announced a date for ending physical debit cards.
Visa’s Flexible Credential is one example of this shift. It allows participating banks to connect multiple sources of money to a single payment credential. Customers can then choose how they want to pay through their bank’s mobile app.
Instead of carrying separate cards, a customer could use one credential and select an available payment source before making a purchase.
Visa says its Flexible Credential can support different payment methods, including debit, credit, instalments, rewards and multi currency options, depending on what the issuing bank offers.
Visa has already expanded the technology into several markets. In May 2026, Visa, Zilch and Thredd introduced Flexible Credential technology for Zilch cardholders in the UK.
The growing use of mobile wallets, virtual cards, biometric verification and tokenisation is also reducing consumers’ dependence on physical cards. Visa says nearly half of its digital transactions were already using tokenisation by 2025.
Mastercard and Botim launch new payment solution
Mastercard is pursuing a similar approach through its One Credential technology.
On August 10, 2026, Mastercard and Botim launched an all-in-one card based on One Credential in the UAE. It was the technology’s first rollout in the UAE and across Eastern Europe, the Middle East and Africa.
The system allows eligible Botim customers to switch between prepaid balances and credit funding through one digital interface.
Users can also access funds in different currencies and convert eligible purchases into installments, reducing the need to maintain separate payment products for different types of transactions.
Mastercard said its research found that 83 per cent of surveyed UAE consumers would use card installments through One Credential.
Physical debit and credit cards are therefore likely to face growing competition from digital alternatives in future.