Visa and Mastercard unveil AI-powered shopping | TechCrunch

Credit Card Giants Dive into AI Shopping

The world of artificial intelligence is expanding beyond startups. Visa and Mastercard, two leading credit card companies, are now actively integrating AI into their services.

Visa's "Intelligent Commerce"

Visa unveiled "Intelligent Commerce" on Wednesday, a platform designed to allow AI agents to shop and make purchases on behalf of consumers. These agents will operate according to pre-set preferences and limits defined by the user.

"Each consumer sets the limits, and Visa helps manage the rest," stated Jack Forestell, Visa's chief product and strategy officer.
Visa is partnering with a variety of tech companies to develop these AI-powered shopping experiences, including:

• Anthropic
• IBM
• Microsoft
• Mistral AI
• OpenAI
• Perplexity
• Samsung
• Stripe

Mastercard's AI Shopping Initiative

Mastercard had previously announced a similar move on Tuesday, introducing its "Agent Pay" offering. This will also give AI agents the capability to shop online for consumers, enhancing generative AI capabilities.