Visa announced on Thursday that it has successfully carried out hundreds of AI-driven transactions in a pilot program initiated after the company's product unveiling in April. This effort is part of a competitive drive within the fintech industry to develop tools enabling consumers to task AI agents with conducting certain transactions.
According to Rubail Birwadker, Visa's head of growth products and partnerships, the year is expected to see significant adoption of these technologies, with consumers increasingly comfortable using them across various environments.
AI is revolutionizing e-commerce by altering how customers explore and purchase products. In April, Mastercard began testing a feature called Agent Pay, which uses AI to shop online for customers. Similarly, Amazon launched a "Buy For Me" service, and PayPal teamed up with Perplexity for agentic shopping solutions. A Visa survey in December revealed that nearly half of U.S. shoppers are already using AI in their purchase activities.
While comprehensive data is still forthcoming, Birwadker noted that AI tools could optimize regular consumer purchases and facilitate transactions like buying concert tickets.
Visa intends to expand its pilot programs to Asia and Europe in the coming year, collaborating with over 20 partners to further develop AI agent tools.
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