Visa aims to empower AI assistants with credit card access for seamless shopping

Artificial intelligence (AI) "agents" are being positioned as more than just chatbots—they could soon handle real-world tasks like shopping on behalf of users. Visa is leading this transformation by integrating its payment network with AI platforms, allowing AI assistants to make purchases autonomously.

The Vision for AI Shopping Assistants

Visa’s Chief Product and Strategy Officer, Jack Forestell, describes this initiative as potentially "transformational, on the order of magnitude of the advent of e-commerce itself." The goal is to let users delegate routine shopping tasks—such as buying groceries, booking flights, or selecting clothing—to AI agents that operate within set budgets and preferences.

Key Partnerships and Pilot Programs

Visa has teamed up with leading AI developers, including:

• Anthropic
• Microsoft
• OpenAI
• Perplexity
• Mistral (France-based)

Additional collaborators include IBM, Stripe, and Samsung. Pilot projects are already underway, with broader implementation expected in 2025.

Addressing Payment Challenges

Current AI agents excel at discovery and recommendations but often falter at completing transactions. Visa’s integration aims to bridge this gap by providing secure, trusted payment capabilities. Forestell emphasized that AI platforms alone cannot solve the payment problem, making Visa’s role critical.

Balancing Autonomy and Control

While AI agents could handle mundane purchases, luxury or experiential shopping may remain user-driven. Visa assures that spending limits and user consent will prevent unchecked spending, addressing concerns about rising credit card debt ($1.21 trillion in the U.S. as of late 2023).

Data-Driven Personalization

With user consent, AI agents could leverage transaction history for hyper-personalized recommendations. Dmitry Shevelenko of Perplexity highlighted how this data could refine suggestions, such as identifying the "best laptops" based on past purchases.

Broader Implications

This initiative aligns with Visa’s push toward digital payments, reducing reliance on physical cards. It also positions Visa as a key player in the evolving AI-commerce landscape, competing with tech giants like Amazon and Google.

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"We think this could be really important. Transformational, on the order of magnitude of the advent of e-commerce itself." — Jack Forestell