Visa launches AI-assisted shopping with security focus
Visa has partnered with a range of AI industry leaders to launch Visa Intelligent Commerce, a system aimed at enabling AI-assisted shopping and payment experiences.
Visa's new venture includes collaborations with companies such as Anthropic, Microsoft, OpenAI, IBM, Mistral AI, Perplexity, Samsung and Stripe. The company aims to integrate its digital payments technology with AI automation, allowing consumers and businesses to delegate shopping tasks to AI agents, backed by Visa's established security protocols.
The Visa Intelligent Commerce platform seeks to cover a range of shopping experiences, from automating routine grocery purchases to handling more complex activities, such as planning holidays. According to the company, transactions performed through the system can adhere to user-defined parameters, including spending limits and conditions, and rely on secure digital tokens to replace traditional card details. These digital tokens are exclusive and can only be unlocked by Visa, according to the firm.
Visa noted that the introduction of such AI agents is a response to shifting consumer behaviours. Recent research indicates that 42% of Australians trust AI to recommend products to them, while one in four would consider sharing personal data for an improved shopping experience.
Alan Machet, Visa's Group Country Manager for Australia, New Zealand and South Pacific, said Visa Intelligent Commerce is enabling the next frontier in shopping, with not only consumers now able to put their trust in AI agents, but banks and sellers as well.
"Just like the shift from in-store to online and then mobile shopping, AI commerce is the future of shopping. AI-based agents will use an individual's parameters to browse, select, purchase and manage on their behalf, automating everyday or occasional purchases, securely. Speaking with large and small businesses across Australia and New Zealand, we know they're already using generative AI to help them save time, reduce costs and stay competitive. It's supporting them in everything from customer service and support to inventory and supply chain management," Machet stated.
The company emphasised that Visa Intelligent Commerce offers several features designed to give consumers more control over AI-powered transactions. People can determine their preferred levels of personalisation and interact with AI agents that act on their behalf only after consumer authorisation. Identity verification is embedded into the process, ensuring consumers can instruct agents directly regarding actions and fund approvals.
The move towards AI in shopping also impacts businesses, particularly small and medium-sized enterprises. Visa said generative AI is already assisting Australian shoppers in researching products and finding recommendations, while smaller businesses are adapting their operations to appear in these personalised searches. The partnerships unveiled by Visa are said to mark the early phases of this trend, as more businesses work to refine their online presence for compatibility with AI agents.
"Small to medium businesses are time poor, despite needing to meet customer experience expectations set by larger rivals. Emerging technologies such as AI commerce will help level the playing field, allowing businesses of all sizes to show up more prominently in the purchase process than they might in traditional search today. Payment is that final step which can be a hurdle to completing a sale if consumers don't feel safe or confident in the retailer or the overall payment experience – Visa Intelligent Commerce helps to close that gap," Ivana Tranchini, Head of Client Engagement for Visa Australia, New Zealand and South Pacific, commented on these developments.
Visa Intelligent Commerce is designed to facilitate digital payment processes that are both straightforward and secure. For developers, the introduction of AI-ready cards with tokenised credentials aims to simplify the payment process while providing additional security benefits for consumers. The system also offers real-time commerce signals to Visa, enabling transaction controls and dispute management.
The company outlined a series of features as part of the system's roadmap: AI-powered card security, personalisation options for recommendations, and consumer-backed controls over spending and transaction authorisation. Each of these elements is intended to promote both user confidence and ease of use in AI-powered commerce environments.
"Visa's security capabilities helped Australian businesses prevent $714 million from fraud over a 12-month period. Visa's advanced technology plays a critical role in keeping payments safe, seamless, and trustworthy, especially as newer technologies such as AI commerce change the way people interact and transact," Machet stated, highlighting Visa's track record in payment security.
