Latest news with #VisaIntelligent
Business Insider
07-05-2025
- Business
- Business Insider
The future is here: Visa announces new era of commerce featuring AI
Lagos, Nigeria – April 30, 2025 – The future of commerce is on display at the Visa Global Product Drop with powerful AI-enabled advancements allowing consumers to find and buy with AI plus the introduction of new strategic partnerships and product innovations. 'As new ways to pay emerge, they need to run on a network that is always on – that is safe, secure, scalable and relentlessly innovating,' said Visa CEO Ryan McInerney. 'We are taking the power of our network and our decades-long expertise to bring new products and solutions that will transform commerce and bring trust and security to AI-enabled payments.' Product Roadmap Visa kicked off its Global Product Drop by sharing how the combination of AI and digital commerce will mark a significant shift in the way consumers discover and buy products and services. In the near future, consumers will enable AI agents to browse, select, purchase and manage on their behalf. For this to be possible, agents will need to be trusted with payments, not only by users, but by banks and sellers as well. Visa will bring this trust to AI commerce by providing a simple way for our partners – AI platforms, tech players, banks, fintechs, merchants and more – to access the Visa network. This is the next step in Visa's journey to connect even more buyers and sellers through seamless, secure digital payments. Headlining the announcement, the company introduced Visa Intelligent Commerce, a groundbreaking initiative that opens Visa's payments network to developers and engineers building the first generation of true AI commerce. Visa also announced new stablecoin partnerships to reach more people and geographies. Finally, Visa shared the expansion of its Flex Credential platform, and new products and services that provide more ways for people to pay and get paid. The advancements introduced today will enable the next wave of commerce and money movement. Visa Intelligent Commerce: A New Era In the last 25 years, Visa's network has processed 3.3 trillion transactions. Visa will extend the infrastructure, standards and capabilities present in physical and digital commerce today to AI commerce. Soon consumers will enable AI agents via AI platforms to use a Visa credential (of which there are 4.8 billion today) at any accepting merchant location (currently totaling over 150 million) for any payment use case. 'Historically, Visa has used AI to protect consumers, harnessing it to help combat fraud. Now, we will also enable AI to empower consumers, fundamentally shifting digital commerce to make it more personal, more relevant and more delightful,' added McInerney. 'For any AI commerce use case to take hold, the payment is a critical enabler of success. If there is no payment, there is no commerce. That's the expertise and trust that Visa brings.' To move the needle on AI commerce at the speed and scale required, the company is collaborating with the AI platforms and brands that consumers and merchants are choosing to work with every day, including Anthropic, IBM, Microsoft, Mistral AI, OpenAI, Perplexity, Stripe and Samsung. 'We see tremendous potential for the role AI agents will play in commerce, from streamlining 'regular' transaction-driven tasks such as ordering groceries, to more sophisticated search and decision-making like securing that hard-to-get restaurant reservation or concert ticket,' said Jack Forestell, Visa's Chief Product and Strategy Officer. 'This will be a transformative change, bringing more magic and convenience to the consumer experience and creating a new world that will forever change how we shop and buy.' New Products, Advancements and Capabilities Visa continues to invest in new features and capabilities that help extend the reach of its network and provide secure and seamless payment experiences. Stablecoins: For over half a decade, Visa has been facilitating crypto transactions and is now further expanding the applications for stablecoins with stablecoin-linked cards, settlement and programmable money. Bridge, a Stripe company, is working with Visa on a new card product that enables fintech developers to offer stablecoin-linked Visa cards to their end customers in multiple countries through a single API integration. Flex Credential Expansion: Last year, Visa reinvented the card with the introduction of the Flex Credential, a next generation card that can seamlessly toggle between different payment methods (debit, credit, buy now, pay later). Today, millions of people around the world are using the Flex Credential and Visa plans to roll out new use cases like expanding access to lines of credit, investment accounts, rewards, commercial cards and more. Unveiled today, Visa and Klarna are partnering to bring the Flex Credential to the U.S. and will be the first in Europe to offer a debit-to-buy now pay later use case that gives consumers more flexibility in how they pay. More details will be announced later this year. Introducing More Ways to Pay and Get Paid: Visa is also announcing more ways for consumers, merchants and partners to pay and get paid around the world. Visa Pay is a new service designed to connect any participating wallet to any Visa-accepting merchant, local or international, in-store or online. Visa Pay is set for beta release in select markets in Asia, Europe and Latin America. Visa Accept is a new offering to give micro-sellers a 'way to get paid' to their eligible Visa debit card, from any NFC-capable smartphone with just a few clicks, providing access to billions of credentials with just one card in your pocket. Visa Accept is being released for Visa beta partners in July, with the first activations in Latin America and Asia. About Visa Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at
NDTV
06-05-2025
- Business
- NDTV
Prepared To Give Your Credit Card To AI To Buy Groceries? Visa Wants You To
Quick Take Summary is AI generated, newsroom reviewed. Visa plans to let AI chatbots access customers' credit cards. The initiative aims to enable AI agents to handle shopping autonomously. Visa is collaborating with leading AI developers like OpenAI, Perplexity. In a move that appears straight out of a Black Mirror episode, Visa is planning to give Artificial Intelligence (AI) chatbots access to customers' credit cards to buy goods for them. After a user has set their preferences and budget, these AI agents will be able to find and buy clothes, groceries or an aeroplane ticket on their own, according to an Associated Press report. Visa is partnering with a group of leading AI chatbot developers, such as OpenAI, Anthropic, Perplexity and Mistral, to connect their AI systems to Visa's payment network. "We think this could be really important. Transformational, on the order of magnitude of the advent of e-commerce itself," said Jack Forestell, Visa's chief product and strategy officer. "Soon people will have AI agents browse, select, purchase and manage on their behalf. Visa is setting a new standard for a new era of commerce." Dubbed the "Visa Intelligent Commerce" scheme, the company is also working on the initiative with IBM, online payment company Stripe, and phone-maker Samsung. "Introducing Visa Intelligent Commerce, an initiative that will empower AI agents to deliver personalised and secure shopping experiences for consumers - at scale," the company stated. "From browsing and selection to purchase and post-purchase management, this program will equip AI agents to seamlessly manage key phases of the shopping process." Previous instance This is not the first instance when such an idea has been floated. Last month, Albert Saniger, the founder of AI shopping app Nate, was charged with fraud after it was revealed that the company relied on call centre employees from the Philippines to complete the purchases manually. Saniger founded the app in 2018, raising over $50 million in funding from investors such as Coatue and Forerunner Ventures. He promoted his product to investors and the public as a "magic shopping app" that simplified online shopping as customers could buy items from any e-commerce site with a single tap using the Nate app. Saniger claimed that the app took care of the rest of the checkout process, including billing and shipping information, using AI. However, as per the Department of Justice, the app's automation rate "was effectively zero per cent".
Toronto Sun
03-05-2025
- Business
- Toronto Sun
SALTZMAN: Wait, what? AI will soon shop for you
'Visa Intelligent Commerce' officially unveiled at the company's 'Product Drop' showcase Visa Intelligent Commerce was unveiled at a press event in San Francisco, California, on Wednesday, April 30, 2025. Photo by Supplied What if your AI assistant doesn't just recommend a flight for an upcoming trip but also pays for it on your behalf? This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account 'Welcome to the future of possible,' Visa CEO Ryan McInerney teased on Wednesday, shortly after taking the stage at Visa's Product Drop press event in San Francisco. Visa officially took the wraps off its Visa Intelligent Commerce initiative, a suite of tools and technologies to facilitate AI-based shopping. With your consent, of course, Visa partners like OpenAI – the parent company to ChatGPT – will soon work with 'AI agents' to research, select, and even buy that flight for you. You could even set parameters, such as a price threshold (if the fare drops below say $400), as well as no stopovers or redeyes. Until now, AI agents could curate personalized recommendations for products and services but would stop short of transacting with merchants. RECOMMENDED VIDEO This is the full-circle solution Visa is aiming to provide. 'Today, when your AI agent displays your itinerary, makes all kinds of recommendations for you, restaurants and excursions, it's pretty magical,' conceded McInerney, referring to a hypothetical scenario for an upcoming vacation. 'I'm going say to the AI, 'This looks fantastic, let's book it,' and then my agent is going to tell me, 'I'm sorry. I'm not fully trained to make payments for you, but I could direct you to websites where you can make these purchases,' and so this is where all the fun currently ends.' Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'But it's actually a pretty solvable problem, (as) we could give AI agents payment tools,' McInerney explained. If done right, this could free up a lot of time and hassle. Visa CEO Ryan McInerney speaks at Visa's Product Drop press event in San Francisco, California, on Wednesday, April 30, 2025. Photo by Marc Saltzman / Postmedia Network TRUST A KEY ISSUE Given its decades-long reputation of secure payments, a company like Visa has the potential to make agentic commerce a reality. After all, Visa's network has processed more than 3.3 trillion transactions over the past 25 years, evolving from brick-and-mortar shopping to online retail and mobile commerce, to the promise of agent-driven AI purchases. (Fun fact: Visa processed the first e-commerce transaction back on Aug. 11, 1994. It was a pepperoni pizza.) 'Visa Intelligent Commerce provides a missing link in the AI commerce experience,' Jordan McKee, research director with 451 Research, told Postmedia . 'Trusted, recognizable providers, like Visa, are needed to bring AI-powered commerce to life at scale.' This advertisement has not loaded yet, but your article continues below. 'Success will be dependent on ecosystem-wide collaboration, but Visa's launch is a critical building block for the industry to start from,' McKee added. Read More SO, HOW SHOULD IT WORK? Essentially, your Visa card would be securely stored and used once you review the details and approve the transaction by the AI agent. 'There will be a one-time setup for Visa customers, to allow the agent to buy on your behalf,' Mark Nelsen, global head of Consumer Products at Visa, clarified in an interview with Postmedia. 'With the help of our more than 14,000-plus bank partners around the world, we're going to verify it's you, and then you'll be good to go. And yes, the same credit card protections you enjoy today with retail and online shopping – such as tokenization and authentication – remain the same in the era of 'agentic commerce.' This advertisement has not loaded yet, but your article continues below. (Tokenization replaces your real Visa number with randomly generated and encrypted code, so your private data isn't disclosed. Authentication is moving to more convenient biometrics-based 'passkeys,' such as using your face to uniquely identify you.) 'Even as the technologies evolve and buyer and seller preferences evolve, our goal hasn't changed, which is to connect buyers and sellers through seamless, secure digital payments,' McInerney asserted. 'I want to emphasize the protection of data privacy, consent and control of your data – all of this is very important to us,' McInerney reiterated. 'We're not sharing any raw user data, your transaction data remains private, and you get to decide which provider can access any of your insights, your preferences, and can stop sharing at any time,' he added. Visa CEO Ryan McInerney speaks at Visa's Product Drop press event in San Francisco, California, on Wednesday, April 30, 2025. Photo by Marc Saltzman / Postmedia Network WHEN WILL THIS BE AVAILABLE? This advertisement has not loaded yet, but your article continues below. According to Nelsen, we should see the start of Visa-led agentic commerce 'in the next couple of months.' 'We have a number of partners now … they're in our sandbox and testing, and it's going well,' he added. Along with OpenAI, Visa announced a few additional agentic commerce partners, including Perplexity, Microsoft, Anthropic, Samsung, IBM, Stripe, and Mistral AI. It should be noted that other tech heavyweights are dabbling with agentic commerce. On April 3, Amazon announced it was testing an AI-powered service, dubbed Buy for Me, which lets some of its U.S. customers purchase items from brands at other sites, while remaining in the Amazon Shopping app. Depending on the product, AI will shop the brand site for you and send you a note to approve the purchase, or you may be prompted to visit the brand's site directly. It's currently free, but only available to some of Amazon's existing customer base south of the border. AI agents could handle as much as 20% of all e-commerce tasks within a year, Paul van der Boor, vice president of AI at technology investment firm Prosus, predicted in an interview with PYMNTS, a publication that centers on payments and payment technologies. — Marc Saltzman is the host of the Tech It Out podcast and author of 17 books, including Apple Watch For Dummies (Wiley)
Yahoo
01-05-2025
- Business
- Yahoo
E-Commerce Update - AI-Powered Payments Revolutionize Global Commerce
Recently, PayOS emerged from stealth mode, announcing collaborations with Mastercard and Visa to enhance AI-driven payments in the e-commerce space. This partnership leverages Mastercard's Agentic Tokens and Visa Intelligent Commerce, providing AI developers with unprecedented access to major payment networks. PayOS aims to streamline checkouts, billing, and transactions with a card-native system that supports all major networks, promoting secure and frictionless commerce for agent-driven economies. This development underscores the importance of integrating AI with payment solutions to support new use cases and transform commerce globally. last closed at $345.50 up 1.2%. In other trading, was trading firmly up 30.4% and finishing the session at $61.44, not far from its 52-week high. This week, Oddity Tech raised its full-year earnings guidance, expecting revenue growth to exceed 20%. At the same time, trailed, down 20% to close at $1.00. Visa's rapid expansion in tap-to-pay and global banking partnerships promises substantial transaction growth. Discover more about this compelling opportunity by clicking through to our detailed narrative on Visa. Don't miss our *Market Insights* article "Beyond the US: Global Markets After Yet Another Tariff Update" for insights on tariff impacts on global e-commerce strategies—get in fast! ended the day at $119.43 up 0.5%. On Tuesday, the company launched its Qwen3 AI models, emphasizing their competitive performance and cost-efficiency. settled at $184.42 down 1.6%. This week, Amazon announced a partnership with Korbyt for a cost-effective digital signage solution, while expanding its delivery footprint in Missouri with a new last-mile facility. settled at $56.40 down 2%. Click through to start exploring the rest of the 231 E-Commerce Stocks including Tesco, Abdullah Al-Othaim Markets and Paysafe now. Ready For A Different Approach? Rare earth metals are an input to most high-tech devices, military and defence systems and electric vehicles. The global race is on to secure supply of these critical minerals. Beat the pack to uncover the 23 best rare earth metal stocks of the very few that mine this essential strategic resource. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sources: Simply Wall St "PayOS Teams Up with Mastercard and Visa Intelligent Commerce, Emerges From Stealth to Power AI-Driven Payments" from PayOS on GlobeNewswire (published 30 April 2025) Companies discussed in this article include NasdaqGM:ODD NYSE:V NYSE:BABA NasdaqGS:AMZN NYSE:NKE and OTCPK:MALG. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Yahoo
01-05-2025
- Business
- Yahoo
Online shopping set to be revolutionised with Visa's game-changing move
Visa has partnered with some of the biggest artificial intelligence (AI) platforms to revolutionise the way you shop online. Platforms like ChatGPT have already transformed workplaces by ushering in efficiencies en masse and now it's time to cut down the thinking and time spent in other areas. Visa Intelligent Commerce allows you to ask an AI system to to do tasks like organise holidays or book high-demand tickets for a big-name gig. QUT consumer expert Professor Gary Mortimer told Yahoo Finance these AI agents will do all the heavy lifting for you. "With Agentic AI, you'll just ask Siri or Alexa to 'arrange a BBQ this Saturday afternoon for three mates' and the AI agent will not just create a list, but also purchase the sausage, hamburgers, bread rolls and arrange delivery," he said. "It will also buy and deliver the beer and wine. It may also send invite reminders to your friends via text." Aussies using AI warned over little-known 'hallucination' problem: 'So convincing' Woolworths worker with three jobs shares bank balance as average Aussie savings revealed Worker forced to push back retirement after superannuation drained Agentic AI is the next frontier of artificial intelligence. The AI that first flowed to consumers was predictive AI. Think of that as when Google might try to finish what you're searching for, your iPhone offering the next word you'll type, or a supermarket showing you specials based off what you've already bought. Next was generative AI or Gen is the state that many are familiar with now, with the likes of ChatGPT to generate images and text based off prompts you give it. Agentic AI levels up to become your own personal assistant. "Gen AI will generate a list of things to do in Melbourne, like available hotels and flights," Mortimer told Yahoo Finance. "However, agentic AI will do it all for you. You would just say, 'Hey, Siri, book a weekend in Melbourne for us'. "The AI agent would then book flights, hotels, restaurants and even arrange for an Uber to collect you and take you to the airport." Well, up until now, AI platforms would spit out information to you and you would complete the booking or purchase by following the normal online shopping steps. But Visa Intelligent Commerce will allow you to upload your card details to the likes of OpenAI or Microsoft to take that final step off your plate, if you wish. There are certain levels of consent you can give the AI agent during the shopping experience, like "show me the itinerary first", "don't spend more than $250", or "do it all for me, I don't care how much it costs". Under those last two options, the AI agent will purchase whatever you're looking for because you gave it permission and parameters. This will be massive for time-poor people or those who aren't sure how to navigate a certain area of commerce. Mortimer said you could ask the AI agent to "buy two tickets to Taylor Swift, I don't want to be in the bleachers, and don't spend more than $200 for each ticket". You won't have to patiently wait in the virtual queue and elbow out other fans online to nab two seats all while you're meant to be in a hands-on meeting with clients. In the case of the weekend away in Melbourne, you might not know a single thing about the city. But if you give it enough information like, "I want to be close to bars and shops", "I want a room with a view", and "I want three different dinner reservations for a Japanese, pub, and Italian joint", it will be able to work its magic. Visa has partnered with the following for its Intelligent Commerce: Anthropic IBM Microsoft Mistral AI OpenAI Perplexity Samsung Stripe More will be included in the coming months. The technology launched on May 1 and Visa predicted it would take a few months for consumers to jump on the bandwagon. But the card juggernaut said the online shopping experience could be completely different by Christmas this year. No more jostling for the best ham and bon-bons. You'll be able to ask your favourite AI to get everything you need for 25 people coming to your place for Christmas lunch, including the food, decorations, wrapping paper and presents for every member of the family. While you will be handing over your card details to an online platform, those precious numbers will be safe from hackers. Your card will be tokenised, which means the main 16-digit number will be replaced with a random set of numbers. You can also set up a passkey that puts the power back in your hands and ensures you have the final say before a purchase is platforms depend on information from you before doing anything. If you give it an inch, it might not necessarily run a mile, but it will do its best. You have the power in how much you give it, but it will learn from you with each use. It will form an idea of who you are, what you like, and how you operate. The more you give it, the better it will be able to assist you. Some might like having a personal assistant that knows you better than you know yourself, while others might prefer it only knowing the absolute minimum. Artificial intelligence, while impressive, has its faults. But Visa said if something goes wrong during the AI shopping process and you don't receive what you wanted, you can be entitled to a refund in the same way as if you did it yourself. In the case of buying the Taylor Swift seats, if they end up being fraudulent tickets, you'll get a refund. If you wanted to buy 10 one litre jugs of milk and 10 milk key rings arrive at your door instead, you'll be able to get a refund. Because an AI agent will do everything for you, you lose a bit of control on certain things. You might have picked out a better seat in the stadium for the pop star, or you might have selected a different hotel in Melbourne because you like the vibe better. An AI agent won't be perfect because even though it might know a lot about you, it's still not you. Ultimately that's the price you'll have to pay for convenience. Businesses can already get into this without doing anything. They might notice changes in the metrics about online shopping and that's because a bot is doing the searching rather than a human. Mortimer had some advice for those looking to capitalise on the technology. "In the past, retailers and other businesses have invested in Google's advertising tools, like Google Ads, to target specific customer groups and increase brand exposure by using relevant keywords and phrases," he told Yahoo Finance. "This allows them to reach potential customers who are actively searching for their products or services. "In the very near future, business will need to start to develop their own AI agents to promote their business and sell their products and services." He predicts consumer AI agents will soon communicate with business AI agents for many different parts of e-commerce. Sign in to access your portfolio
