Using Artificial Intelligence for a Personalized Payment Experience
International Journal of Computer Techniques – Volume 12 Issue 2, 2025
Vandana Sharma
Technology Specialist,
Leading Technology Organization,
San Francisco Bay Area, CA, US.
Email: vandanatripathi01@gmail.com
Abstract
This review paper explores how Artificial Intelligence (AI) is transforming payment systems through personalized payment recommendations. It examines how AI technologies analyze consumer behavior to tailor payment options, enhancing user engagement and security in digital transactions. Key stakeholders—financial institutions, e-commerce platforms, payment service providers, and technology developers—will find in-depth analysis and actionable insights on AI integration for optimizing payment experiences. The paper highlights the benefits, challenges, and practical applications of AI in payment systems, serving as a comprehensive guide to improving consumer satisfaction and transaction efficiency. By exploring AI-driven personalization, stakeholders will gain a clear understanding of its strategic implementation to drive business innovation and maintain a competitive edge in the fast-evolving digital marketplace.
Keywords
AI, Artificial Intelligence, Payment Systems, Personalized Payment Recommendations, Payment processor, Payment gateway, Card networks, Acquiring bank, Issuing bank
Conclusion
In conclusion, the integration of Artificial Intelligence in payment systems brings transformative benefits that go beyond improving transactional efficiency and security. For stakeholders across the financial sector, from small merchants to large multinational banks, this white paper emphasizes AI’s potential to revolutionize customer interactions and optimize operational practices. By adopting AI-driven technologies for personalized payment recommendations, stakeholders can see significant improvements in customer satisfaction and engagement. Personalization fosters deeper connections with consumers, making them feel valued and understood, which in turn promotes loyalty and repeat business. AI also plays a crucial role in protecting sensitive data and maintaining customer trust, which is essential for staying competitive. This paper demonstrates how AI not only addresses potential threats but also proactively anticipates and mitigates risks before they impact the business. Additionally, it provides clear strategies for incorporating AI into existing payment systems, offering stakeholders a roadmap for navigating the complexities of implementation. The insights shared enable businesses to ensure a smooth transition to AI-enhanced operations, minimizing disruption and maximizing ROI. By embracing AI, stakeholders are not just adapting to change—they are leading it, positioning themselves at the forefront of financial technology innovation.
References
- Russell, S., & Norvig, P. (2016). Artificial Intelligence: A Modern Approach. Pearson.
- Goodfellow, I., Bengio, Y., & Courville, A. (2016). Deep Learning. MIT Press.
- Lohr, S. (2015). Data-ism: Inside the Big Data Revolution. Harper Collins.
- Krizhevsky, A., Sutskever, I., & Hinton, G. E. (2012). ImageNet Classification with Deep Convolutional Neural Networks. NIPS.
- Silver, D. et al. (2017). Mastering the game of Go without human knowledge. Nature.
- McKinsey & Company. (2018). Global Payments Report.
- Capgemini. (2019). World Payments Report.
- Javelin Strategy & Research. (2020). 2020 Identity Fraud Study: Genesis of the Identity Fraud Crisis.
- Euromonitor International. (2021). Digital Consumer Industry Insights.
- Brynjolfsson, E., & McAfee, A. (2014). The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies. W.W. Norton & Company.
- Kahneman, D. (2011). Thinking, Fast and Slow. Farrar, Straus and Giroux.
- PCI Security Standards Council. (2019). Payment Card Industry Data Security Standard (PCI DSS).
- FICO. (2021). FICO Report on Artificial Intelligence in Financial Services.
- Bostrom, N. (2014). Superintelligence: Paths, Dangers, Strategies. Oxford University Press.
- Tene, O., & Polonetsky, J. (2013). Big Data for All: Privacy and User Control in the Age of Analytics. Northwestern Journal of Technology and Intellectual Property.
- SAS Institute Inc. (2018). Use of AI and Machine Learning in Banking Fraud.
How to Cite
Vandana Sharma, “Using Artificial Intelligence for a Personalized Payment Experience,” International Journal of Computer Techniques, Volume 12, Issue 2, 2025. ISSN 2394-2231
Share this content:
Post Comment