Mastercard and Visa Use AI to Transform Payments and Shopping

Global payment leaders Mastercard and Visa have unveiled new AI-driven solutions aimed at transforming how consumers make payments and shop online. Both companies are fully embracing the AI agent trend, with systems capable of performing automated tasks based on user commands.

With these innovations, Visa will enable platforms like ChatGPT and other AI tools to use stored card information to complete purchases. Previously, this process required human intervention, but now, consumers will be able to finalize orders directly through intelligent agents.

Mastercard, on the other hand, introduced Agent Pay, its own smart shopping assistant. This solution can suggest items such as clothing and accessories for specific events and autonomously complete the purchase, while also recommending the best payment option. The system uses tokenization, a technology that replaces sensitive card data with unique tokens for each transaction, enhancing security—this method is already used by Apple Pay, Google Pay, and Samsung Pay.

Additionally, Mastercard has announced strategic partnerships to expand the use of AI in commerce. The company is working with Microsoft to develop intelligent shopping agents and collaborating with IBM on B2B (business-to-business) solutions.

AI Agents: What They Are and How They Work

AI agents are systems that can automatically perform tasks on behalf of users. They can fill out forms, make restaurant reservations, or even complete purchases without requiring direct consumer interaction.

Companies like OpenAI with ChatGPT’s Operator, Anthropic with Claude, and tech giants such as Amazon, Microsoft, and Google are also developing their own versions of these smart assistants, further integrating AI into daily life.

Mastercard and Visa’s initiatives highlight the global race to integrate AI into the financial sector, promising greater convenience, security, and automation for both consumers and businesses.

Read the original article on: Engenharia

Read more: Hugging Face Unveils a Free AI Tool with Operator-Like Agent Capabilities