Key Takeaways
- Visa and Mastercard are introducing new AI tools that allow artificial intelligence agents to shop online for consumers.
- Visa’s “Intelligent Commerce” and Mastercard’s “Agent Pay” aim to make online shopping more personalized and convenient using AI.
- Consumers will set preferences and limits for these AI shopping agents.
- Both companies are partnering with major tech players like Microsoft, IBM, and OpenAI.
- Other companies, including PayPal and Amazon, are also developing similar AI-powered shopping assistants.
Get ready for a new way to shop online. Credit card giants Visa and Mastercard are jumping into the artificial intelligence trend, developing tools that let AI agents handle your online purchases.
Visa recently announced its “Intelligent Commerce” platform. The idea is to let AI find and buy things for you based on preferences you set beforehand. Think of it like a personal shopper, but digital.
Jack Forestell, Visa’s chief product and strategy officer, explained that users will define the boundaries, and Visa will help manage the shopping process securely within those limits. They’re working with big names like Microsoft, OpenAI, and IBM, plus startups, to build these AI shopping experiences.
Mastercard isn’t far behind. They unveiled “Agent Pay,” a system designed to let AI agents make online purchases smoothly within chat conversations. Imagine asking an AI for party outfit ideas, getting suggestions tailored to your style and the event, and then having the AI buy your chosen items.
Mastercard envisions AI helping with everything from finding local boutique items to recommending the best payment method. They’re also teaming up with Microsoft and IBM, among others, to bring this “agentic commerce” to life.
These moves by Visa and Mastercard highlight a growing trend. According to TechCrunch, other major companies are exploring similar territory. PayPal has announced its own AI shopping agent, while Amazon is testing a feature called “Buy for Me.”
Tech leaders like OpenAI, Google, and Perplexity are also showcasing AI agents capable of browsing websites and completing purchases for users. It seems AI helpers are poised to become a common feature of online shopping soon.
