Machine Learning in Payments – an Overview in Disruptive Times

Daniel Faggella

Daniel Faggella is Head of Research at Emerj. Called upon by the United Nations, World Bank, INTERPOL, and leading enterprises, Daniel is a globally sought-after expert on the competitive strategy implications of AI for business and government leaders.

Machine Learning in Payments - an Overview in Disruptive Times

The coronavirus pandemic has ushered in a new era of digital payments; those who once mailed checks and made purchases in person are now paying their bills electronically and shopping online. As the economy is rattled by the coronavirus, there are some AI startups in the payments space that will succeed and others that will fail. All are pivoting rapidly to eCommerce, if that wasn't already their focus to begin with.

Financial institutions will be looking for AI companies that can deliver faster, easier, more secure payments so that they can take on more business with less risk in this increasingly digital world. In this article, we explore our AI Opportunity Landscape research on AI innovation across the payments space in the following use-cases:

Accessing payment systems
Point of sale
Using payment data
Personalization of products and experiences

We begin our analysis of machine learning in payments with a brief overview and a discussion of how AI can be used to ...

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