GenAI and the Consumer Purchase Journey

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.

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    Table of Contents

    1. Executive Summary
    2. GenAI-powered innovation can provide payment providers with new revenue streams
    3. Personalized marketing offers burnish the power of two-sided networks
    1. Virtual assistant personalization could ignite conversational commerce
    2. Personalization and less friction at checkout will boost purchase conversion
    3. EMARKETER Interviews
    1. Sources
    2. Media Gallery

    Interviewed for This Report

    Ori Bauer
    Dynamic Yield, Mastercard
    CEO
    Interviewed March 7, 2024
    Ken Moore
    Mastercard
    Chief Innovation Officer
    Interviewed March 4, 2024

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    First Published on Mar 22, 2024

    authors

    David Morris

    Contributors

    Suzy Davidkhanian
    Carina Perkins
    Senior Analyst
    Yoram Wurmser
    Principal Analyst