Abstract: Visual prompting has gained popularity as a method for adapting pre-trained models to specific tasks, particularly in the realm of parameter-efficient tuning. However, existing visual prompting techniques often pad the prompt parameters around the image, limiting the interaction between the visual prompts and the original image to a small set of patches while neglecting the inductive bias present in shared information across different patches. In this study, we conduct a thorough preliminary investigation to identify and address these limitations. We propose a novel visual prompt design, introducing **Lo**w-**R**ank matrix multiplication for **V**isual **P**rompting (LoR-VP), which enables shared and patch-specific information across rows and columns of image pixels. Extensive experiments across seven network architectures and four datasets demonstrate significant improvements in both performance and efficiency compared to state-of-the-art visual prompting methods, achieving up to $6\times$ faster training times, utilizing $18\times$ fewer visual prompt parameters, and delivering a 3.1% improvement in performance.