Visa and Mastercard launch AI-powered purchasing | Google introduction to generative ai | Generative ai in finance and accounting | | Turtles AI

Visa and Mastercard have launched new platforms that enable AI agents to make online purchases on behalf of users, based on personalized preferences. They are partnering with technology companies to offer more efficient and secure shopping experiences.

Key Points:

• Visa introduces "Intelligent Commerce," a platform that enables AI agents to search for and purchase products based on user preferences.
• Mastercard introduces "Agent Pay," technology that enables AI agents to complete online transactions autonomously.
• Strategic Partnerships: Both companies are working with technology leaders such as Microsoft, OpenAI, and IBM to integrate AI into payments.
• Expanding AI into Commerce: PayPal and Amazon are also developing similar solutions to improve the online shopping experience.

Visa and Mastercard are transforming the digital commerce landscape by introducing AI agents that can manage the entire online shopping process on behalf of users. Visa has launched "Intelligent Commerce," a platform that enables AI agents to search for, select, and purchase products based on user preferences, while users retain final control over spending decisions. To achieve this vision, Visa is partnering with leading technology companies, including Microsoft, OpenAI, IBM, Anthropic, Mistral AI, Perplexity, Samsung, and Stripe, to deliver more personalized and secure shopping experiences.

In parallel, Mastercard has introduced “Agent Pay,” a technology that enables AI agents to complete online transactions autonomously, integrating payments into personalized recommendations provided through conversational platforms. This initiative aims to improve the efficiency of the purchase process, reducing checkout times and increasing customer satisfaction. Mastercard is working with Microsoft, IBM, Braintree, and Checkout.com to further develop this technology.

Other industry giants are also following this trend. PayPal has announced its own agentic commerce offering, partnering with Google Cloud, AWS, and Microsoft to integrate AI agents into online shopping experiences. Meanwhile, Amazon is testing a new feature called “Buy for Me,” which allows users to purchase products from third-party retailers directly through its platform, using AI agents to complete the purchase process.

These innovations represent a significant step towards a more seamless and personalized online shopping experience, leveraging the power of artificial intelligence to meet the needs of modern consumers.

The integration of AI into the online shopping processes by Visa, Mastercard, PayPal and Amazon marks a significant evolution in the way consumers interact with digital commerce, offering new opportunities for more efficient and personalized shopping experiences.