Generative AI for Personalization in Consumer Payments

What Are the Key Use Cases for Payment Providers?

Report by David Morris  | Oct 25, 2024

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Table of Contents
Why does genAI for personalization matter right now?
How should payment providers prioritize the key use cases of genAI for personalization?
What else should payment providers keep in mind?
Sources
Media Gallery
About This Report
Generative AI gives payment providers unprecedented tools to create a more personalized purchase journey for consumers, but some use cases are easier to implement than others.
Topics
Artificial Intelligence (AI)
Payments
Financial Services
US
Table of Contents
Why does genAI for personalization matter right now?
How should payment providers prioritize the key use cases of genAI for personalization?
What else should payment providers keep in mind?
Sources
Media Gallery

Generative AI (genAI) is making it easier than ever for payment providers to personalize the consumer purchase experience. As they plan their personalization strategies, providers need to understand the customer-facing areas where genAI can deliver the most value.

Key Question: What are the key use cases for genAI in consumer payments, and how should payment providers prioritize them?

How Should Payment Providers Prioritize Generative AI (GenAI) Use Cases for Personalization in Consumer Payments?
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Key Stat: Personalized product recommendations and services are US consumers’ two most wanted innovations online, cited respectively by 47% and 45% of respondents to a Q2 2023 Klarna Insights survey. GenAI can help payment providers meet their expectations, boosting conversion.

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Table of Contents

  1. Why does genAI for personalization matter right now?
  2. How should payment providers prioritize the key use cases of genAI for personalization?
  1. What else should payment providers keep in mind?
  2. Sources
  1. Media Gallery

Charts in This Report

How Should Payment Providers Prioritize Generative AI (GenAI) Use Cases for Personalization in Consumer Payments?How Should Payment Providers Prioritize Generative AI (GenAI) Use Cases for Personalization in Consumer Payments?
Generative AI (GenAI) Use Cases for Personalization in Consumer Payments

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authors

David Morris