Tencent and Visa sign memorandum of understanding for AI and payments

Tencent and Visa have signed a memorandum of understanding to deepen cooperation in cross-border payments, remittances, enterprise-level artificial intelligence, and AI agent commerce. The partnership aims to enhance global payment and business service capabilities within the Tencent ecosystem.

Under the agreement, the companies will utilize Tencent’s TenPay Global and Visa Pay to develop cross-border payment solutions for travelers. These solutions seek to improve payment convenience for users at merchants covered by both WeChat Pay and the Visa network. Additionally, the parties plan to leverage Visa Direct to facilitate cross-border remittances, allowing overseas users to transfer funds into the WeChat Pay ecosystem.

In the field of artificial intelligence, Tencent Cloud and Visa will explore collaborations involving enterprise AI, developer ecosystems, and the international expansion of Chinese enterprises. The collaboration will combine Tencent Cloud’s AI, cloud computing, and data capabilities with Visa’s global payment network. This includes researching the use of Visa Intelligent Commerce to allow AI agents to assist users with product discovery, selection, and purchasing.