Visa and Mastercard Lead AI-Powered Shopping Revolution with Intelligent Commerce

Artificial intelligence is rapidly transforming the financial services landscape, with major credit card companies Visa and Mastercard spearheading new AI-powered shopping innovations. These companies are introducing AI agents capable of shopping and making purchases on behalf of consumers, tailoring transactions to individual preferences and limits.

Visa’s new offering, called Intelligent Commerce, enables AI to "find and buy" products based on consumer-set preferences. Visa emphasizes that consumers maintain control by setting limits, while the company manages the transaction process securely. This initiative is developed in collaboration with a diverse group of technology leaders including Anthropic, IBM, Microsoft, Mistral AI, OpenAI, Perplexity, Samsung, and Stripe.

Similarly, Mastercard has launched Agent Pay, an AI-powered service that integrates payments with generative AI conversations. This service allows AI agents to curate personalized shopping experiences and complete purchases seamlessly. For example, a user planning a birthday party can interact with an AI agent that selects outfits and accessories based on style, venue, and weather, then makes purchases using Mastercard’s payment credentials.

Mastercard is partnering with Microsoft to expand use cases for agentic commerce and collaborating with IBM, Braintree, and Checkout.com to enhance AI-powered shopping capabilities. These partnerships highlight the growing ecosystem around AI in fintech, aiming to deliver more intuitive and secure consumer experiences.

The AI shopping revolution is not limited to credit card companies. Amazon recently began testing an AI shopping agent called "Buy for Me," while OpenAI, Google, and Perplexity have demonstrated AI agents capable of browsing websites and assisting with purchases. OpenAI also updated ChatGPT’s web search tool to enhance online shopping experiences.

This wave of AI integration in commerce signals a shift toward more personalized, efficient, and secure shopping experiences. By automating the purchase process and tailoring recommendations, AI agents can save consumers time and reduce friction in digital transactions, while providing businesses with new opportunities for engagement and revenue growth.

As AI-powered commerce evolves, companies must navigate challenges related to privacy, security, and consumer trust. Visa and Mastercard’s collaborations with leading AI and tech firms demonstrate a commitment to addressing these issues while pushing the boundaries of what AI can achieve in fintech.

For developers, businesses, and technology leaders, the rise of AI agents in commerce offers exciting opportunities to innovate payment systems, enhance customer experiences, and unlock new revenue streams. Staying informed and leveraging expert insights will be crucial to thriving in this rapidly changing landscape.