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Visa outlines payment trends: virtual cards, mobile wallets and AI in payments
Summary
Visa's public-sector team presented global payment volumes, the growing role of virtual cards and mobile wallets, and how AI and modernized infrastructure are shaping digital procurement and fraud prevention for governments.
Kristen Bolden (Visa) presented the card network's perspective on payment trends affecting government programs, highlighting increasing automation, virtual-payables and wider adoption of mobile wallets.
Kristen said Visa processes very large global transaction volumes and explained that governments are moving toward digital procurement and virtual-card solutions to speed payments and reduce paperwork. She noted virtual card commercial payments are forecast to grow substantially by 2027 and encouraged agencies to consider modernizing infrastructure and adopting automation to reduce manual processes and fraud exposure.
Visa also discussed AI's dual role: enabling fraud-detection and automation but presenting new risks that require coordinated monitoring across banks and networks. The presentation urged agencies to align procurement and IT modernization to support growing digital-payment use.
