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HomeAIVisa to invest $100m in GenAI firms focused on commerce and payments

Visa to invest $100m in GenAI firms focused on commerce and payments

Date:

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.

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