Visa Asia Pacific Announces New Era of AI-Driven Commerce
The future of commerce in Asia Pacific is on display at the Visa Asia Pacific Media Showcase, where the company announced a suite of product innovations and strategic partnerships to enable a new era of commerce for the region.
The Visa Asia Pacific media showcase highlighted how AI-enabled digital commerce will significantly change the way consumers across the region discover and purchase products and services.
In the near future, AI agents will browse, select, purchase, and manage transactions on behalf of users, making trust in payments more important than ever. Visa’s new AI-enabled solutions offer regional partners, including AI platforms, fintechs, banks, and merchants, a seamless way to connect to the Visa network to deliver secure, frictionless payment experiences.
First Generation AI-Powered Commerce
«Combining the strength of our global network with our leadership in payment innovation here in Asia Pacific, we are bringing new products and solutions that will transform commerce and deliver trust and security to AI-enabled payments across the region,» Jack Forestell, Visa’s Chief Product and Strategy Officer, said.
The company introduced Visa Intelligent Commerce, a new initiative that opens Visa’s payment network to developers and engineers who are building the first generation of AI-powered commerce in Asia Pacific.
Integrated APIs
Visa Intelligent Commerce brings a suite of integrated APIs and a commercial partner program to AI platforms, enabling developers to deploy Visa’s AI commerce capabilities securely and at scale. Visa announced today that it is exploring partnerships with Ant International, Grab, and Tencent to grow AI commerce by enabling a secure and seamless checkout experience.
- Visa Pay: A service designed to connect any participating wallet to any Visa-accepting merchant, local or international, in-store or online, launches across Asia Pacific, home to the largest number of digital wallet users. Through partnerships with leading players including LINE Pay in Taiwan, Maya in the Philippines, OpenRice in Hong Kong, and Woori Card in South Korea, Visa is expanding access to its global network, giving consumers more ways to pay globally by tapping, scanning or online.
- Digital Identity: This suite of solutions includes Passkeys, Tap to Confirm, and enhanced data which are meant to identify and authenticate digital users. These solutions will reduce friction for consumers by being digitally native while improving payment security and authorisation rates with enhanced transaction data and state-of-the-art fraud prevention techniques. New partners in the region include Coles, a supermarket chain in Australia and Maybank, a leading financial services provider in Malaysia and Southeast Asia.
- Visa Accept is a new solution that allows micro-sellers to receive payments directly to their eligible Visa debit card using any NFC-enabled smartphone. Launching in Vietnam, the service supports micro-entrepreneurs and informal sellers such as street vendors, freelancers, and rural service providers. Participating issuers will enable cardholders to accept contactless payments through their bank’s mobile app.
Ant International is a leading global provider of digital payment, digitisation, and financial technology. Grab is Southeast Asia’s leading super app, offering ride-hailing, food delivery, digital payments, and financial services across eight markets. Tencent is a multinational technology leader that develops a wide range of digital products and services, including Weixin/WeChat, China’s super app.
