
Visa unveils AI-driven commerce & payments push in Asia
Visa has announced a series of artificial intelligence-driven innovations and strategic partnerships aimed at shaping the future of digital commerce across Asia Pacific.
"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, stated.
The company highlighted how AI-powered digital commerce is expected to change consumer interactions with products and services throughout the region. In this envisioned future, AI agents will manage tasks such as browsing, selecting, purchasing, and handling transactions on behalf of users, increasing the need for robust payment security and trust. Visa's newly announced solutions are designed to offer AI platforms, fintech firms, banks, and merchants a straightforward way to connect with the Visa network for secure and seamless payments.
A central component of the announcement is Visa Intelligent Commerce, an initiative intended to make Visa's payment network accessible to developers and engineers creating the first generation of AI-powered commerce platforms in Asia Pacific. Visa said it is exploring collaborations with major partners such as Ant International, Grab, and Tencent to test secure, AI-driven checkout experiences.
Visa Intelligent Commerce offers a package of integrated APIs and a commercial partnership programme to AI platforms, allowing secure deployment of Visa's AI commerce tools at scale. Ant International is recognised as a digital payment and financial technology provider, Grab operates a super app with ride-hailing and multiple services in Southeast Asia, and Tencent develops digital products including the Weixin/WeChat platform.
Over the last 25 years, Visa has facilitated 3.3 trillion transactions globally. With this experience, the company is now advancing its infrastructure to support AI-driven commerce, which is expected to allow AI agents within widely-used platforms to carry out transactions using Visa's 4.8 billion credentials at millions of merchant outlets around the world.
"As global commerce continues to evolve rapidly, Visa remains at the forefront of delivering innovations that will enable the future of commerce across Asia Pacific," T.R. Ramachandran, Head of Products and Solutions, Asia Pacific, Visa, commented.
"We believe AI agents will play a growing role in commerce, from handling routine purchases such as ordering food, to more complex purchases such as securing event tickets or making travel reservations. By combining AI capabilities with Visa's trusted payment infrastructure, we are enabling a seamless, secure, and more enjoyable experience for consumers, merchants, and businesses alike," Ramachandran added.
Visa is expanding its portfolio of offerings for consumers and businesses in the region to address changing payment needs. The company announced an expansion of its stablecoin-backed payment solutions, allowing consumers to buy stablecoins with fiat currency and pay at Visa-accepting merchants through stablecoin-backed cards. Partnerships with DCS Singapore, DTC Pay and StraitsX facilitate stablecoin card issuance and conversion, utilising regulated infrastructure.
Visa has settled over USD $225 million in stablecoin volume through its systems to date with participating clients. In Asia Pacific, the company is collaborating with StraitsX to enable stablecoin settlement. Visa's Tokenized Asset Platform (VTAP) is also available for partners to issue and manage fiat-backed tokens, connect with various blockchain platforms, and facilitate cross-border transfers. Visa anticipates further expansion of VTAP access in late 2025 and 2026.
The Flex Credential, Visa's next-generation card product first launched in Japan with Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Card Company (branded as Olive), continues to gain traction. More than five million users have adopted the Olive card, with transaction volumes from cardholders averaging 40% higher than the national average. Visa and its partners have extended the Flex Credential to small businesses, permitting business and personal account switching on one card, and additional launches are planned for Vietnam in the near term.
New services and partnerships are also being rolled out to ease the payment process for consumers, merchants, and businesses. Visa Pay, a service connecting participating wallets to all Visa-accepting merchants, is being introduced across Asia Pacific where digital wallet usage is high. Partnerships with LINE Pay in Taiwan, Maya in the Philippines, OpenRice in Hong Kong, and Woori Card in South Korea have been established to expand global payment access for users.
Visa's digital identity suite includes measures such as Passkeys and Tap to Confirm, which are aimed at improving security and the user experience. These tools aim to streamline consumer authentication processes and enhance transaction data to reduce fraud. Regional partners for these solutions now include Coles in Australia and Maybank in Malaysia and Southeast Asia.
Visa Accept is a new service introduced in Vietnam, permitting micro-sellers to receive payments using any NFC-enabled smartphone with a Visa debit card. This solution supports micro-entrepreneurs, such as street vendors, freelancers, and rural service providers, with payments processed through their bank's mobile application.