Artificial intelligence has already woven itself into how we pick products, but the moment it starts paying on our behalf is still far off. That's the message from Visa CEO Ryan McInerney, who said Tuesday (Sept. 8) at a Goldman Sachs conference: "We are seeing adoption for shopping, but not yet for autonomous payments."
What the Visa chief actually said
According to McInerney, consumers are increasingly using AI tools at the selection stage — comparing products, narrowing options, getting recommendations. But handing AI the right to complete a transaction on its own, without human involvement, isn't something payment infrastructure is ready for yet. That's the realm of so-called agentic payments, where an AI agent initiates and completes a purchase on a user's behalf.
Why this matters for the payments market
Agentic payments are one of the biggest bets major payment networks are placing for the coming years. If an AI agent can pay for subscriptions, order goods, or renew services on its own, the entire chain changes — from transaction authorization to how cardholder consent is verified.
For now, the gap between "AI recommends" and "AI pays" means the final step — entering card details, confirming payment — still belongs to the human. For virtual card users, that's arguably good news: control over where money goes stays in your hands.
What it means in practice
- Choosing is already AI-assisted. Chatbots and assistants help compare prices and pick services, but you still run the payment.
- Autonomy is on hold. Fully automatic purchases "on your behalf" aren't mainstream yet — which also means fewer risks of unauthorized charges.
- Infrastructure is catching up. Payment networks still need to sort out security, identity verification, and limits before agentic payments become the norm.
Where the market is heading
Visa's statement shows that the hype around AI agents is running ahead of what payment infrastructure can actually deliver. The technology for choosing purchases is already here, but trusting AI with your wallet is as much a regulatory question as a technical one. For those paying for overseas services with virtual cards, the familiar model — "I decide, I pay" — will stay relevant for a while yet.
Not financial advice.
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