Artificial intelligence is making its way not only into the startup world, but also into the big players like Visa and Mastercard. Visa recently unveiled “Intelligent Commerce,” a new AI feature that allows agents to shop and make purchases on behalf of consumers based on their preferences.

Visa’s chief product and strategy officer, Jack Forestell, stated that consumers set the limits while Visa manages the rest. The company is working with tech giants like Anthropic, IBM, Microsoft, and others to create AI-powered shopping experiences that are more personal, secure, and convenient.

Following suit, Mastercard introduced Agent Pay, giving AI agents the ability to shop online for consumers. This feature integrates payments into tailored recommendations provided on conversational platforms, enhancing generative AI conversations for both people and businesses.

Collaborating with companies like Microsoft, IBM, Braintree, and Checkout.com, Mastercard aims to scale “agentic commerce” with new use cases and aspects of AI-powered shopping. And they’re not alone – PayPal also announced their own AI-powered shopping feature.

Amazon is also jumping on the AI shopping bandwagon with the introduction of a new AI shopping agent called “Buy for Me.” OpenAI, Google, and Perplexity have showcased similar agents that help users make online purchases. OpenAI recently updated ChatGPT search to enhance the online shopping experience for users.

In the fast-paced world of AI-powered shopping, Visa, Mastercard, PayPal, and other tech giants are shaping the future of retail with personalized, secure, and convenient shopping experiences for consumers.