Artificial intelligence could fundamentally change payment transactions. Paying via AI agents is expected to become as commonplace as mobile payment or e-commerce in the near future. A new ecosystem of banks, technology companies, and other partners is currently emerging in Europe to support this.
Initial payment transactions have already been processed technically, and a total of 30 European banks are working on the development. For a breakthrough, what's needed above all is a compelling approach to end customers – and trust in the security of the new technology. This requires significant investments in AI and data infrastructure.
Interview with Albrecht Kiel, Regional Managing Director, Visa