Visa and Mastercard unveil AI-powered shopping

Artificial intelligence is not just infiltrating the startup world. Now, credit card giants Visa and Mastercard are getting into the AI game. Visa announced on Wednesday “Intelligent Commerce,” which it says enables AI “to find and buy.” AI agents will be able to shop and make purchases on behalf of consumers, based on preselected preferences. In a statement, Visa Chief Product and Strategy Officer Jack Forestell said: “Each consumer sets the limits, and Visa helps manage the rest.” Visa says that it is collaborating with a mix of tech giants and startups to develop AI-powered shopping experiences that are “more personal, more secure, and more convenient.” Those companies include Anthropic, IBM, Microsoft, Mistral AI, OpenAI, Perplexity, Samsung, and Stripe, among others. The move follows Mastercard’s announcement on Tuesday that it would give AI agents the ability to shop online for consumers. Mastercard said its new Agent Pay offering “will enhance generative AI conversations for ... Read full article.