Mastercard and Visa unveil AI-Powered Payment Technology
Visa introduced Intelligent Commerce, which uses AI to find and buy products. In addition, Mastercard introduced Agent Pay, which integrates Mastercard’s trusted payment solutions into conversational platforms.
The details
- Visa Intelligent Commerce uses AI-ready credit cards with tokenized digital credentials. This improves security for consumers and makes the process easier for developers. Customers can control and personalize the AI agents.
- With Intelligent Commerce, Visa opens the global payment network to developers of AI agents. For this, Visa partners with Anthropic, IBM, Microsoft, Mistral AI, OpenAI, Perplexity, Samsung, Stripe, and more.
- Mastercard Agent Pay uses AI agents to provide more personalized shopping experiences. It is a similar system to Visa Intelligent Commerce. Mastercard partners with Microsoft, IBM, and more.
- The announcements from Visa and Mastercard come along with announcements from OpenAI and Perplexity to integrate shopping features in their products.
Our thoughts
We live in a time where AI changes every aspect of modern life. In the next step, AI agents will handle complete payment processes, making shopping easier and more personalized.
However, we need to pay attention to protecting personal data. Would you give an AI agent your credit card information?
More information: 🔗 Visa | Mastercard | OpenAI | Perplexity
Magic AI tool of the week
This week’s Magic AI tool is ElevenLabs*, a platform that uses advanced AI to generate realistic speech. Now, ElevenLabs offers an MCP server.
An MCP server is like an API designed for LLMs. It provides a large language model with context to access the full ElevenLabs AI audio platform.
The MCP server allows you to manage AI tasks using local tools. So, you can build Conversational AI voice agents that transcribe speech and generate audio, all with simple API calls.
Step-by-Step Guide:
- Sign up for free at ElevenLabs.io* (10,000 characters per month ~10 min for free)
- Generate your API key: Navigate to your account settings and generate a new API key.
- Clone the official ElevenLabs MCP server GitHub repo.
- Follow the installation guide in the README.
- Start the server with the provided CLI command. The server provides endpoints for audio generation, speech transcription, and Conversational AI.
- Connect the MCP server to your AI application and build impressive LLM apps. That’s it. 🎉🎉
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