Visa participates (also) in the advent of AI-commerce

The American payment giant Visa has just announced the strengthening of its collaboration with technological actors in favour of improving theonline shopping experience through the integration of artificial intelligence technologies. Future users of this service should therefore benefit from a more fluid and simplified shopping experience, until payment.

FACTS

• Artificial intelligence will now allow consumers using a Visa payment method to find and buy products online more easily via an AI agent. Visa has just introduced its new dedicated solution called Visa Intelligent Commerce.

• This offer incorporates the latest artificial intelligence technologies to allow AI agents (such as ChatGPT for example) to find, select and buy products online on behalf of consumers, through direct exchanges with them or on the basis of predefined parameters.

• Users of a Visa payment method will first need to preconfigure their Visa Intelligent Commerce tool (purchase conditions and spending limits) to simplify their e-commerce experience, until their payment is validated without friction, in a secure and reliable way.

• Consumers will also have to give their consent to share their payment information with the AI agent they use (and Visa's trading partner). Their card information will then be replaced by tokenized digital identifiers.

• Consumers will then be able to perform a product search in simplified mode, by voice or text via the chatbot of their IA agent. If a product presented meets their expectations, consumers will be able to validate their purchase directly in the cat.

• An automatic purchasing system can also be put in place if the AI agent detects, for example, a drop in the price of a product.

• Visa's new promise is to strengthen its collaboration with platforms specialized in artificial intelligence technologies such as Anthropic, IBM, Microsoft, Mistral AI, OpenAI, Perplexity, Stripe and Samsung.

ISSUES

• Revolutionizing the shopping experience : Visa presents its new initiative as a tool to enter a new era for the e-commerce Now redefined as "IA-commerce".

• Responding to competition : Visa is not the only American scheme to have embarked on this path since MasterCard is also positioned as an actor engaged in the renewal of the experience e-commerce thanks to AI and a signed partnership with Microsoft. His new solution has been named Mastercard Agent Pay. And most recently, PayPal is also announced its ambition to participate in the development of AI-commerce with its own solution.

PERSPECTIVE

• The promise to improve the online shopping experience of consumers has been carried by many players for several years now. This was the case in the United States in 2016 when a mobile shopping app named Operator promised to change the habits of online consumers by combining a bot with human expertise on the same chat interface.

• With the evolution of artificial intelligence technologies, these promises today carry new forms and are carried in particular by American schemas. Mastercard is not at the forefront of his first initiatives on the subject since he launched a shopping assistant with a general AI as early as December 2023 on the American and international market.

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