From payments to the future: AI, stablecoins, and a cashless Armenia – interview with Visa Regional Manager

Why has Visa long outgrown being “just a payment system”? How does opening a legal entity in Yerevan strengthen the company’s position in Armenia? What global trends—from AI agents to stablecoins—will shape payments in the coming years, and why is a cashless future no longer a slogan but a reality? Diana Kiguradze, Visa’s Regional Manager for the Caucasus and Moldova, shared all this and more in an exclusive interview with NEWS.am Tech during the Silicon Mountains Tech Summit 2025.

Many people think that Visa is just a “payment system”. But you are increasingly positioning yourselves as a technology company. How is that reflected in practice?

You’re absolutely right — Visa is much more than a payment system. Today, we see ourselves as a global technology company, a network of network, that helps individuals, businesses, and economies thrive. This is reflected in the way we innovate: we’re investing in services that go beyond payments, creating solutions that improve customer experience, build loyalty, and deliver new value for our partners. Our Visa Consulting & Analytics team uses advanced data science to provide actionable insights and help clients grow, while our network — one of the largest in the world, processing over 200 billion transactions annually[1]  — ensures payments are fast, secure, and reliable. From AI-powered fraud prevention and real-time payment innovations to tokenization and data intelligence, we’re focused on making every transaction smarter, safer, and more seamless.

Visa is not just enabling payments — we’re shaping the future of commerce.

Recently, Visa opened a legal entity in Armenia. What’s the impact of this?

For more than two decades, Visa has been a dedicated partner in Armenia’s digital transformation, supporting the country’s journey toward a digital, cashless economy. The establishment of Visa’s legal entity in Yerevan this April is a testimony to our long-standing commitment to Armenia. This step brings us even closer to our partners and clients, reinforcing Visa’s commitment to supporting the market’s growth.

Having a local entity enables us to collaborate more efficiently with banks, fintechs, merchants, and government institutions, allowing for faster decision-making and more tailored solutions for the Armenian market. We have also expanded our local team to deepen engagement and foster innovation across all segments of the payment ecosystem. In essence, this milestone strengthens Visa’s position as a trusted ally to Armenian stakeholders and highlights our confidence in the country’s potential to become a regional hub for digital innovation.

Which project or partnership in our region would you consider the most successful in recent years, and why?

At Visa, we value every partnership in the region, as each contributes to building an inclusive digital economy. One of the standout initiatives in recent years has been the Visa Cashless Forum, a flagship regional event, which we hosted in Armenia for the first time in 2024.

The Cashless Forum brought together financial leaders, innovators, and visionaries across the region, including Armenia, Georgia, and Moldova, making it a truly regional platform for sharing insights and fostering collaboration. Hosting the forum in Armenia reflected the country’s growing role in the regional digital ecosystem and its strong potential for innovation.

Another important initiative is She's Next Empowered by Visa in Armenia, which supports women entrepreneurs by providing knowledge, visibility, and resources to grow their businesses, further contributing to an inclusive digital economy in the region. We believe women-led enterprises are vital for economic growth, and seeing them thrive within our global initiative has been incredibly rewarding.

Can you name three main trends you expect to see in the development of payment technologies in the next five years?

Looking ahead, three fundamental trends will reshape payment technologies over the next five years:

1. AI-powered commerce and invisible payments

Payments will become invisible as AI agents shop and pay on our behalf. At Visa, we're building the foundation for this through Visa Intelligent Commerce, ensuring these AI-driven transactions remain secure and seamless.

2. Stablecoins

Stablecoins are becoming an important innovation in digital payments, offering the benefits of blockchain technology while maintaining a stable value. They are increasingly being explored for everyday transactions, cross-border payments, and new financial services, and market interest in stablecoins is growing again in 2025.[2] As this trend continues, stablecoins are likely to play a key role in shaping the future of payments, supporting faster, more efficient, and more inclusive financial systems worldwide.

3. Money movement digital transformation

Visa Direct transforms global money movement by enabling banks, fintechs, businesses, and governments to move money through a single platform. It provides real-time payments and instant fund transfers while addressing the complexities of domestic and cross-border transactions. Visa B2B Connect complements this by streamlining cross-border corporate transactions, reducing settlement times, and improving transparency. Together, these solutions are driving the digitization of B2B payments, with new fintech innovations reshaping cross-border money movement to make business payments faster, more transparent, and more efficient.[3]

How are AI and machine learning already being used in Visa’s work, not only to prevent fraud, but also to improve customer experience?

Artificial intelligence is transforming the future of payments, and at Visa, AI has been integral to our innovation journey for more than 30 years. We were the first global network to use AI for fraud prevention, and today we deploy hundreds of AI models to protect our ecosystem. In the past year alone, Visa’s AI-powered security helped block $40 billion in fraudulent activity globally.[4]

Beyond security, our machine learning models help merchants improve customer experience. AI is reshaping how people shop and pay. We are seeing the rise of hyper-personalized financial experiences and AI-powered commerce, where intelligent agents will soon help consumers search, compare, purchase, and even pay on their behalf, securely and in real time.

This year, we introduced Visa Intelligent Commerce, a global initiative that enables AI agents to transact safely on our network. We also launched the Trusted Agent Protocol to ensure secure communication between AI agents and merchants. At the same time, we are advancing digital identity with solutions like Visa Payment Passkey, which uses biometrics instead of passwords to make payments simpler and more secure. This evolution is redefining how we shop and pay, keeping consumers fully in control while technology eliminates friction behind the scenes.

Our leadership in AI innovation was recently recognized as Visa ranked #2 on Fortune’s AIQ list, reflecting our commitment to responsible, scalable AI innovation that makes payments smarter, safer, and more seamless for everyone, everywhere.[5]

What do you think, a cashless future is a reality or just a marketing slogan?

A cashless future isn’t just a vision - it’s a reality that’s already taking shape. At Visa, our philosophy is built on enabling this transformation responsibly and inclusively. Every partnership, every innovation, every initiative we pursue is focused on making digital payments so secure, convenient, and accessible that they become the natural choice for everyone.

The evidence is clear: consumers expect seamless digital experiences, businesses are moving online, and governments are digitizing services. But for us, it’s more than a trend - it's a responsibility. We're building  the infrastructure, security, and partnerships that make this future work for all, ensuring it's not only digital but also inclusive, resilient, and trusted.

How do events like Silicon Mountains support this transformation in the country and help to keep up with current trends?

Events like Silicon Mountains play a critical role in accelerating Armenia’s digital transformation. The event brings together banks, tech companies, fintechs, businesses, and policymakers to exchange ideas, explore global trends, and form partnerships that turn vision into tangible progress.

What makes Silicon Mountains a powerful platform is its focus on practical knowledge-sharing and collaboration around emerging technologies. Supporting this happening reflects our commitment to driving digital progress in Armenia.

What interesting things did you hear or learn during this year’s Silicon Mountains (October 14)?

Silicon Mountains 2025 was truly inspiring because of the energy, ambition, and collaboration across the entire ecosystem. We heard from global tech leaders, innovative startups, investors, and local visionaries, all united by a shared belief that technology can drive real economic and social transformation.

Discussions covered everything from AI adoption and semiconductor innovation to startup growth and digital infrastructure. What stood out most was that Armenia is no longer just observing global tech trends; it’s actively shaping them.

For Visa, this reinforces why we are committed to this market. The vision and momentum here are impressive, and the future of Armenia’s digital economy looks incredibly promising. 

[1] https://s29.q4cdn.com/385744025/files/doc_downloads/2024/Visa-Fiscal-2024-Annual-Report.pdf

[2] https://corporate.visa.com/en/sites/visa-perspectives/trends-insights/making-sense-of-stablecoins.html

[3] https://corporate.visa.com/content/dam/VCOM/global/services/documents/the-10-trends-infographic.pdf

[4] https://investor.visa.com/news/news-details/2024/Visas-Growing-Services-Business-Infused-with-New-AI-Powered-Products/default.aspx

[5] https://fortune.com/2025/10/07/visa-artificial-intelligence-science-art/