Visa has recently launched a new AI enabling solution for “smart business” where AI agents will browse, select, purchase and manage transactions on behalf of users. The programme will provide regional partners (including AI platform, financial science and technology companies, banks and businesses) with a seamless connection to the Visa network to provide a secure, friction-free payment experience.
At a recent Asia-Pacific regional fair, Chief Products and Strategic Officer Jack Forestell stated: “We combine the strengths of the global network with leadership in paying for innovation in the Asia-Pacific region, and new products and solutions are being rolled out to transform business and provide trust and security for AI in Asia-Pacific as a whole.”
The exhibition highlighted how AI-enabled digital commerce would significantly change the way consumers in the Asia-Pacific region identify and purchase products and services. At the same time, as a central feature, Visa launched the “Visa Intelligent Commerce” to open up the Visa payment network to first-generation AI-driven business developers and engineers in Asia and the Pacific.
Visa Smart Business has brought an integrated set of API and a business partnership plan for the AI platform, an AI business capability that developers can safely and massively deploy Visa, and Visa has announced that it is working with ants International, Grab (South-East Asia’s leading super-applications to provide Internet-based vehicles, oversale distribution, digital payments and financial services) and telecommunications exploration in eight markets to develop AI business by providing a safe and seamless booking experience.
In the past 25 years, the global network of Visa has processed 3.3 trillion transactions. Today, Visa is advancing its infrastructure, standards and capacities to drive AI-driven business, opening new opportunities for consumers in the Asia-Pacific region. Soon, AI agents integrated into familiar platforms will be able to trade with 4.8 billion payment vouchers from the millions of businesses worldwide in Visa.
Visa Viet Nam and Lao State Manager Dung Dang stated: “With the continued rapid growth of global business, Visa has been at the forefront of providing innovations that will enable future business throughout the Asia-Pacific region.”
Dung added: “We believe that the AI agent will play an increasingly important role in the business, from processing routine purchases (e.g. ordering food) to more complex purchases (e.g. securing tickets to events or making travel reservations). By combining AI’s capabilities with the trustworthy payment infrastructure of Visa, we are bringing seamless, safe and more pleasant experiences to consumers, businesses and businesses.”
