Visa and Mastercard have entered the AI-driven shopping space, with both companies unveiling new AI-powered shopping solutions. Visa introduced “Intelligent Commerce,” which enables AI agents tо shop оn behalf оf consumers based оn preselected preferences. AI will be able tо make purchases for users, with Visa managing the rest, allowing consumers tо set limits while AI handles the process.
Collaboration with Tech Giants and Startups
Visa’s initiative includes partnerships with major tech companies like Anthropic, IBM, Microsoft, Mistral AI, OpenAI, Perplexity, Samsung, and Stripe, aiming to create personalized, secure, and convenient shopping experiences. The company is focused on making shopping smarter with AI tools that enhance user convenience.
Mastercard’s Agent Pay and New AI Features
Following Visa’s announcement, Mastercard revealed its own AI-powered shopping service, Agent Pay. This service integrates payments into generative AI conversations, helping users shop online. For example, AI can help someone plan a birthday party by curating outfits and accessories, making purchases, and suggesting payment methods. Mastercard is collaborating with Microsoft, IBM, Braintree, and Checkout.com to scale agentic commerce.
Growing AI-Powered Shopping Market
Visa and Mastercard are not alone in this venture. PayPal also launched an agentic commerce service, and Amazon began testing an AI shopping agent called “Buy for Me.” Other tech giants like OpenAI, Google, and Perplexity have developed similar AI tools to enhance online shopping, with OpenAI updating its ChatGPT search tool to improve users’ shopping experiences.
