AI for Payments – Visa vs. MasterCard

  • “Jamison said Visa has more than 100 applications that use AI in some form
  • In fact, in looking across the globe, Jamison pointed to Asia as fertile ground for AI innovation. “The whole integration of AI into daily life is really happening in the Asia-Pacific region,” he said.
  • Amazon has shipped over 100 million Alexa-enabled devices, and where voice-controlled interactions (remember the car scenario above) are pervasive across commerce and everyday life.
  • The banks may not be immediately perceived as being on the frontlines of innovation, said Jamison, ‘but people know they’re not going to screw things up, and that if something goes wrong, the bank[s] will fix it. Individuals trust that it’s regulated and managed in a way that is, ultimately, in their best interest.'”

https://www.google.com/amp/s/www.pymnts.com/visa/2019/ai-innovation-voice-technology-commerce-bank-data-trust/amp/


    • “Mastercard is using artificial intelligence and natural language processing in unique ways to combat fraud and money laundering.
    • Association of Certified Fraud Examiners reported a 42% frequency of fraud across small businesses costing an average of 5% of gross revenues.”

    https://beth.technology/mastercard-artificial-intelligence/

    3 Top Artificial Intelligence Stocks to Watch in April

    IMAGE SOURCE: GETTY IMAGES.

    Facebook

    • “Shares of the social media juggernaut are already up 36% so far in 2018 — albeit after plunging 26% last year as it traversed a difficult combination of data-privacy scandals, the spread of misinformation on its platforms, and concerns over decelerating top-line growth as Facebook builds on a larger base. With the help of AI, Facebook is striving to address those concerns.

    Visa

    • “The services that we offer that are extremely high value-added and in many ways have economics that are very similar to our core business and very much leverage of core business or things like risks services, fraud management and all that, authentication services, data analytics where we continue to add to our capabilities with AI,” said CFO Vasant Prabhu, according to a transcript compiled by Seeking Alpha. “We’ve always been doing machine learning, especially on fraud.”

    Alphabet

    • Without AI, Waymo’s vehicles wouldn’t be able to navigate traffic, avoid pedestrians, or learn from past driving experiences. The company stands to benefit from this AI pursuit by licensing some of its tech to other companies and selling its own services, all of which could help Waymo generate nearly $100 billion in sales over the next decade.”

    https://www.google.com/amp/s/www.fool.com/amp/investing/2019/04/19/3-top-artificial-intelligence-stocks-to-watch-in-a.aspx

    2018 in Review – Ana Păstrăvanu of thepaypers.com

    One of the best aspects of transitioning to a new calendar is the year-in-review pieces written by popular technology blogs and publications. This morning I discovered a post written by Ana Păstrăvanu of thepaypers.com.

    Here are just a few of the key take-always. Check out the post for full details.

    • In Pakistan ecommerce was expected to surpass USD 1 billion in 2018, propelled by the increase in broadband penetration and the rise in the number of online payment merchants.
    • In India, ecommerce sales reached USD 32.70 billion (an increase of 31% compared to 2017), with growth being driven by Amazon, Flipkart, and Paytm Mall.
    • In January, Amazon opened Amazon Go, an automated and checkout-free grocery store in Seattle.
    • Walmart’s take on cashier-less checkout, Scan&Go, started being tested in stores in the US.
    • A study released by Juniper Research found that global retailers’ spending on AI would reach USD 7.3 billion per annum by 2022.
    • Flipkart acquired Liv.ai, an India-based AI-led speech recognition software startup, while Walmart partnered with Microsoft for a wider use of cloud and AI technology.
    • In August, Visa has created a new category of payment aggregator, the marketplace, and updated the requirements that have to be met in order to qualify as a marketplace under Visa’s rules.
    • 2018 marked the world’s biggest purchase of an ecommerce company, the acquisition of Flipkart by Walmart, in May, for USD 16 billion.
    • Another important announcement regarded Adobe’s intention of acquiring Magento Commerce from private equity company Permira for USD 1.68 billion.
    • Another important investment in 2018 is marked by Alibaba, which increased its control of Lazada, investing USD 2 billion into the business.

    https://www.thepaypers.com/expert-opinion/what-stories-hit-the-headlines-in-the-ecommerce-space-in-2018/776603