Visa talks brand security in AI payments era
Visa has stepped up its marketing and brand presence as it prepares for one of the most profound shifts in payments history as agentic AI emerges.
Visa’s Australian chief predicts the Australian market is just six months away from agentic commerce transactions, ushering in “one of the most profound shifts in payments history”.
Visa Oceania group country manager Alan Machet said the start of AI technology making very basic purchasing decisions on behalf of consumers, such as the weekly grocery shop, was only months away.
“We think some of the lower-risk, lower-ticket-style transactions are likely to be there soon,” he said. “We’re not that far away from being able to tell our ChatGPT agent to do the weekly shop for me. It’s pretty low-risk, say $80, and if it goes wrong I know between Visa and Woolworths it’s all going to work out OK. That’s coming. I don’t know if it’s six months or nine months, but it’s that kind of time frame.”
Mr Machet said the Australian market was primed to be one of the first markets to widely embrace agentic commerce.
“There is no doubt that Australia is going to be a leader in this globally,” he said.
“We’ve got the core plumbing in place, we’re heavily tokenised and our payments ecosystem is mature. We’re very active internet and mobile commerce users already and, when you look at the take-up of ChatGPT, Gemini, Perplexity, Claude and all the others, we’re clearly going to be the early adopters.”
With the clock already ticking, Visa was “coming out of its shell” to entrench its position as the trusted partner for businesses and consumers as they begin to navigate the new era of payments.
“The change in the way that people are starting to do commerce is moving faster than frankly anything we’ve seen before in any industry in terms of change,” Mr Machet said. “For Visa, which is built on a legacy of trust and security, when people see that logo they know what they are going to get. So, the importance of Visa remaining that trusted, safe, secure and reliable brand that gives them the confidence to be able to shop, knowing that if something goes wrong, they’ll be looked after, is so important.”
Visa has launched several marketing initiatives to showcase its presence and leadership in the market, according to Mr Machet. This includes a major sponsorship of the recent SXSW Sydney Festival, sponsorship of the upcoming AFC Women’s Asian Cup, plus a major research report exploring the nation’s night-time economy and creating a data and insight-rich index around its hot spots.
The inaugural report is supported by a campaign that uses the reports data and metrics to highlight how cities, businesses and consumers can unlock affordable experiences. Visa has partnered with influencers and media publications to highlight trends, with the activity supported through social media and out-of-home channels.
Mr Machet said the campaign aimed to highlight the importance of the night-time economy and encourage more commerce in the evening – “it’s very critical that we uplift our productivity”.
The marketing and sponsorship activity is part of a broader strategy to maintain the brand’s presence in the market, while also remaining invisible.
The significant challenge for Visa is to remain the invisible but essential layer within the payment ecosystem while also ensuring the brand is remembered as a safe, trusted business partner.
Mr Machet said: “I don’t want to create extra friction just to get the Visa brand out there.
“Our job is to make sure the experience is completely frictionless, but that people also know if something goes wrong, Visa has their back.
“The secret source is the brand, the trust, the security, the fraud protections we put in place, and that fundamentally the customer is always looked after. The economics, everything around it, ensures that that’s the case.”
