Prime Highlights:
- Visa’s pilot program has successfully completed hundreds of automated transactions, making shopping and payments easier for customers.
- The company plans to expand the program to Asia and Europe next year and is working with over 20 partners to improve these tools.
Key Facts:
- The pilot program began after Visa’s product event in April and focuses on simplifying routine purchases like event tickets and recurring services.
- Industry experts say these developments could make shopping smoother and help businesses serve customers more efficiently.
Background:
Visa said it has successfully completed hundreds of automated transactions as part of a pilot program that started after the company’s product event in April. The program is part of Visa’s effort to make shopping and payments easier. It reflects a wider trend in the payments industry to simplify shopping. By automating certain purchases, Visa wants to make regular transactions, like buying event tickets or recurring services, quicker and more convenient.
Rubail Birwadker, Visa’s head of growth products and partnerships, said these tools could become more popular in the coming year. “This is going to be the year we see significant adoption, with consumers becoming more comfortable using these kinds of services in a variety of everyday scenarios,” he said.
The pilot program also points to the growing competition among payments and e-commerce companies to enhance the shopping experience. In recent months, several major players have introduced similar initiatives.
Mastercard, for instance, tested a service that allows automated shopping on behalf of customers, while Amazon introduced a comparable feature for its platform. PayPal is working with other companies to make it easier for customers to buy things.
Visa’s pilot program is still new, but it has already completed hundreds of transactions successfully. The company plans to expand the program to Asia and Europe next year and is working with more than 20 partners to improve these tools and offer more options for consumers and businesses.
Experts say these changes will make shopping easier and transactions faster for customers.
