Tencent and Visa Sign Agreement to Explore Cross-Border Payments and Agentic Commerce

en.Wedoany.com Reported - On October 29, Tencent and Visa signed a memorandum of understanding to expand cooperation in areas including cross-border payments, agentic commerce, enterprise-grade artificial intelligence, and enterprise globalization services. The agreement combines Tencent's payment platforms, cloud computing, and AI technologies with Visa's global payment network and cross-border money transfer solutions, with a focus on researching new commerce models in which AI agents participate in product selection, transaction authorization, and payment.

In cross-border payment operations, the two parties plan to leverage Tencent's cross-border payment platform TenPay Global and Visa Pay to develop payment solutions for Chinese inbound and outbound travelers, enabling users to complete cross-border purchases at merchants covered by Weixin Pay and the Visa network. The two parties also plan to deepen cross-border remittance cooperation through Visa Direct, expanding the scope of services that allow overseas remitters to transfer funds into the Weixin Pay ecosystem.

Agentic payment cooperation will center on Visa Intelligent Commerce, researching technical solutions in which AI agents assist eligible users in searching for products, selecting services, and completing purchases. Relevant transactions must meet user authorization, payment security, data governance, and applicable regulatory requirements. The two parties will also study developer agentic payment experiences and AI-native commerce models, and explore combining Tencent Cloud AI technologies with Visa's payment capabilities.

Tencent's international payment platform Midas has already established cooperation with Visa in businesses including game payments, joint marketing, cross-border money transfers, and risk management. This memorandum extends the scope of cooperation to Tencent's overseas AI business, involving optimization of AI application payment experiences and development of agentic transaction mechanisms.