Ai in payments

In a world where all technologies are constantly evolving, online payment follows the trends. So, the big question is how artificial intelligence impacts online payment in the short term.

Online shopping has expanded greatly beyond our computers and our phones with the help of AI on payments, and it will continue to grow as we may see new devices with better capabilities.


Consumers are looking for a payment experience that doesn’t sacrifice safety, and they expect this technology to be at reach.

While still might make us humans feel a bit uncomfortable and puzzled, chatbots are a tool to provide buyers with relevant content and suggestions to automate the back-end. This helps expand the capabilities of small stores to sell to anyone, anywhere accurately.

While chatbots will help potential buyers getting the right product and tailoring the online shopping experience by reducing search times, the implication of AI in business goes far beyond that and the possibilities are still growing. If there’s data to be analyzed, there’s a job position for AI.

Real Time Payment

Real time payment is a bit hit for AI in most countries, even though it’s extremely complicated to maintain system.

AI can help improve resources and cut expenses in the short and long term. It can make bank payments more efficient and faster for real time payments. For us is as easy as hitting Checkout, but there’s a lot going on in the background to protect your purchase.

Testing field

Artificial intelligence is getting the attention it deserves. Companies are very interested in these types of technologies, but they are reluctant due to the lack of testing in some areas. And when you realized the AI has failed it might be already too late. Payment applications are still very limited, and to watch from far how this keeps evolving before jumping on board.

Big online companies like online casinos that rely 100% on online payment already have methods that work well for them. For example, the business model in casinos like Asiabet does not allow any room for error and has been providing the best online betting payment methods for years now. Among the best ways of payment, the casino counts with Bank transfer because of being one of the most popular gambling payment methods in countries like India; Paytm has become one of the most trusted online payments, besides being the best payment option if it’s being done the first deposit. Furthermore, there are other options such as Credit Cards, Debit Cards and Paypal. Truth is, they expect big banks to adopt AI as they have the capital to invest in the technology so all dependent systems can benefit from it at some point along the path, being banks the first link in the chain.

AI in action

So, how is AI working to make online payment safer? With fighting against payment fraud.

The advantage it has over human beings is the ability of processing giants amounts of data at an incredible speed. It also has a large capacity for learning and saving data.

Payment-fraud has become more complex and harder to detect over the years. Technology advances for both good and evil as equals.

AI helps reduce false positives when checking online payments and reduce the amount of manual data checking for online shopping.

It supports online stores by analyzing data of monitored computers again the data return of unmonitored units. By putting one against the other the AI can determine very accurately if the transaction is likely to be legit or fraudulent, blocking the account as soon as the anomaly is detected.

Of course, there’s still room for improvement and there are some false positives here and there, but we all prefer to have a real purchase blocked by accident than having a fraudulent one pass as real. False positives are less frequent as time passes by and the system keeps learning patterns and debugging itself.


AI is here to help us and should not be feared. The more time and data we feed these machines with the more efficient the system will become.

Financial institutions believe that AI helped stop fraud right before it happened and business owners that adopted these methods feel like their payment fraud has been reduced.

While hackers and scammers work as hard as the AI to create new ways to hurt us financially, we’ve come to a point where artificial intelligence is watching our hard earn money. We still suggest you visiting safe online stores only (look for the lock at the address bar), be mindful with your data and use RFID blocking sleeves to protect your card. These simple tricks combined with AI make the perfect human-machine bond that will keep your hard earn money where it belongs.


Subscribe to our Newsletter

Stay up-to-date with the latest big data news.