Visa has launched a $100 million generative AI (GenAI) ventures initiative to invest in GenAI start-ups focusing on payments, fintech, and commerce, aiming to lead in AI innovation and reshape commerce.
Facts
- Visa has initiated a $100 million GenAI ventures program to invest in startups working on generative AI, payments, fintech, and commerce.
- Visa Ventures, Visa’s corporate investment arm, will oversee this initiative, building on their history of investments since 2007.
- Visa has been utilizing generative AI technology since 1993 and seeks to extend its AI leadership to drive payment innovation and create value for partners and clients.
- Jack Forestell, Visa’s chief product and strategy officer, emphasizes the transformative potential of generative AI in reshaping how we live and work and its impact on commerce.
- David Rolf, head of Visa Ventures, highlights generative AI as one of the most transformative technologies and aims to invest in innovative startups in GenAI, commerce, and payments.
