How Payment Providers Can Use GenAI to Personalize and Accelerate Commerce
Generative AI (genAI) tech can personalize marketing offers and virtual assistants while improving customer checkout. Payment providers looking to bring their own tools to market should closely watch early movers and assess their revenue-generating opportunities.
Key Question: How can genAI-powered tools affect the consumer purchase journey and provide opportunities for payment providers?
Key Stat: Consumers worldwide crave personalized product recommendations and services, as well as a frictionless payment experience, per a Q2 2023 Klarna survey. GenAI can help payment providers meet demand in both areas.
Here’s what’s in the full report
- 2 Exportable files for easy reading, analysis and sharing.
- 4 Charts: Reliable data in simple displays for presentations and quick decision making.
- 2 Expert Perspectives: Insights from industry and company leaders.
Table of Contents
- Executive Summary
- GenAI-powered innovation can provide payment providers with new revenue streams
- Personalized marketing offers burnish the power of two-sided networks
- Virtual assistant personalization could ignite conversational commerce
- Personalization and less friction at checkout will boost purchase conversion
- Interviews
- Sources
- Media Gallery
Charts in This Report
- Most Wanted Innovations Online vs. in Physical Stores According to Consumers Worldwide, Q2 2023 (% of respondents)
- Customer-Facing Functions Have Highest Rate of GenAI Investment Among Business Leaders
- Reasons US Consumers Are Interested in Trying Generative AI Conversational Commerce, 2023 (% of respondents)
- How Interested Are US Adults in Using Cashierless Checkout Technologies* at Stores? (% of respondents, by demographic, Dec 2023)
Interviewed for This Report
- Ori Bauer - Dynamic Yield, Mastercard, CEO
- Ken Moore - Mastercard, Chief Innovation Officer
