Visa partners with Anthropic and Microsoft to launch AI-driven credit cards using tokenization for secure autonomous transactions, competing with Mastercard’s Agent Pay in reshaping payment infrastructure.
Visa’s Intelligent Commerce initiative, developed with Anthropic and Microsoft, aims to let AI agents execute purchases via tokenized cards, addressing security concerns while unlocking new transactional automation scenarios.
Visa’s AI Agent Infrastructure
Visa announced its Intelligent Commerce platform this week, enabling AI assistants like Anthropic’s Claude to conduct transactions using tokenized card credentials. The system allows predefined spending limits and merchant category restrictions, with real-time insights shared via Microsoft’s Azure OpenAI Service.
Security vs Convenience Debate
While Visa emphasizes tokenization’s role in minimizing fraud risks, privacy advocates question data-sharing protocols. Mastercard’s competing Agent Pay program, revealed in May 2024, uses similar principles but limits AI access to virtual card numbers instead of primary account details.
Market Implications
Analysts predict the AI-agent payment sector could reach $50B by 2030. “This isn’t just about chatbots buying groceries,” said Forrester’s Brendan Miller. “It’s laying rails for IoT devices, VR avatars, and corporate procurement bots to transact independently.”
Historical Context: The Evolution of Autonomous Payments
Visa’s move builds on its 2014 tokenization standard that enabled Apple Pay. Previous attempts at automated payments, like 2016’s blockchain-based smart contracts, struggled with regulatory compliance and user trust issues.
Lessons From Past Innovations
Mastercard’s 2015 partnership with Samsung for tokenized mobile payments faced initial consumer skepticism before gaining mainstream adoption. Visa’s current challenge mirrors this trajectory – balancing AI’s efficiency gains with tangible security demonstrations to accelerate market acceptance.
