Visa outlines AI‑driven security overhaul and €260 bn losses from abandoned online purchases

At the Visa Payments Forum in Paris, Visa executives described a major revamp of the company's global payment network security to meet the challenges of artificial‑intelligence‑driven commerce. Rajat Taneja, President of Technology, said the shift from human‑made to AI‑made transactions requires "continuous" and "dynamic, contextual" security that can detect and respond to autonomous threats in real time.

The firm also revealed that abandoned online checkout sessions cost the industry up to €260 billion each year, with "two out of three online purchases" never completing. Mehret Habteab, Senior Vice President of Product and Solutions, highlighted the fragmentation of digital identities, the rise of AI‑based fraud, and the need for "built‑in trust" measures such as biometric authentication, tokenization and improved transaction data. Visa reports that tokenisation now powers 60‑70% of its online transactions and aims for full coverage, while biometric passkeys are already deployed in Europe and parts of the CEMEA region, boosting successful transaction rates by 5% and cutting fraud by 35%.