Emerging Tech·157 discussions

How to use AI in payments (and other small business tasks)

Tags: Community, Emerging tech, Software

Anyone here messing around with AI for payment processing? Or figured out any cool ways to use AI to make checkout smoother for customers?

Topic

Anna…are you just asking to be spammed?

In reply to How to use AI in payments (and other small business tasks)

Hopefully you will get some GENUINE responses, but highly doubtful!
I don’t handle any billing any longer, as I retired from my primary profession.
But 15 yrs ago, robotics were already on the cusp of replacing some “technicians” (pharmacy).
That was one of the reasons I decided to take my shingle down, and put away my spatulas, counting tray
and other one-time necessary tools of the trade. After 34+ yrs of being a pharmacist, I just couldn’t see
myself going back into that robotic, artificial work environment. I went back to my teen years, and took
on a job as a machinist, at first running Browne & Sharp #2 machines, now running a Citizen A20 3F
CNC machine, for a while longer anyhow!

Just trying to keep up with the times

In reply to Anna…are you just asking to be spammed?

Haha no, I just feel that with generative AI and other forms of AI becoming more accessible to everyone, it’s probably a good idea to know what’s out there to stay competitive. If my competitors can use AI to increase their sales, I’d like to know how too!

But to your point I guess it’s prudent to add:

“Feel free to mention any POS, payment, or other business solution providers but no links, please.”

Prudent to add “No links, please!”

In reply to Just trying to keep up with the times

I’m kind of old school, especially in regards to links in forum posts. Many (too many) times a reply
is ONLY posted to boost the link targets SEO, or is spam, selling pirated content, etc.

As for using AI in payments…what do you see as any possible benefit? I can’t see any myself, as
we as a society have managed without AI for quite a number of millennia without it. Why would
trusting some unknown LLM trained machine to handle a business transaction be better than
more conventional and time-proven methods? Why shucks, I barely trust anything on the internet
for purchases, LOL! Only in the last few years, and that is primarily due to various utility companies
basically forcing me to do so! Oh, and I do not create an account with those utilities, and prefer
to pay my bills as a “guest”. To date, I haven’t even tried Microsoft Copilot in MS Edge on this
Dell Latitude with Win11 Pro! No need…I consider myself intelligent enough to find whatever I’m
searching for without my hand being held and giving someone somewhere access to more info
about me than is absolutely necessary!
You are much younger than myself, so your viewpoints are going to be different. I can remember a
time when offering to sell ANYTHING on the net was considered bad behaviour, and would more
likely than not get a person banned from the service! Times have changed though.
The most troubling aspect of current trends regarding artificial intelligence is how so many people
don’t really know what it actually is! IT IS NOT INTELLIGENCE, IT IS SIMPLY AN ALGORITHM THAT
HAS BEEN TRAINED TO ACT/REACT TO VARIOUS KEYWORD INPUTS!
Well, I’ve probably said more than enough for now, hehe! I may go back to tinkering with my old
Acer Aspire One AOA150 netbook that still operates…yes, still Windows XP SP3, but also a variety
of Puppy Linux Slackware based distributions that I enjoy tooling around in just to see what I can
and cannot accomplish on the old netbook. Would you believe it…I have actually been able to browse
these forums while booted into a now ancient Slacko Puppy 6.3.2 32 bit, but with a glibc update and
a bit of help from a browser compiled by a fellow Puppian that allows older Linux distros to access
the modern web! <{;-)

Wiz we used to use AI all the time on the farm

In reply to Prudent to add “No links, please!”

The Artificial Insemination of the sheep was so much harder than having a couple of Rams sharing the paddocks.

So far, no. Why?

In reply to How to use AI in payments (and other small business tasks)

AI or ML isn’t trustworthy to handle payment systems. And from what we can tell these AI/ML systems PILFER your data.

Example: https://www.wired.com/story/deepseek-ai-china-privacy-data/

Nope, never, don’t do it, burn it, bury it in the desert.

It’s in most payment processors now

In reply to So far, no. Why?

Unfortunately it seems inevitable, unless you’re OK just accepting cash or bank transfer payments. Most credit card processors are using them now and not just for fraud monitoring.

Not the right place to use it to begin with

In reply to How to use AI in payments (and other small business tasks)

But I have to ask as I grew up on a Sheep Station what do you want to use Artificial Insemination for and why for payment options?

If however you mean Artificial Intelligence by AI it should never be considered where Human Intervention will not be overseeing it and checking the output all of the time. Then you have to take into account who is hosting the AI and the security of it not to mention who owns the output. You could find yourself in a position where you do not own the output and someone is stealing all your money or worse still all your clients money, that is a very fast to bankrupt yourself and loose all your customers.

If you personally are hosting the AI can you afford to pay for all the electricity it uses and the hardware it runs on? Or if you are selling that side out how trustworthy is the place hosting the environment and if they where to go broke who owns the output of the machines?

[kees_b]

Reply To: How to use AI in payments (and other small business tasks)

In reply to How to use AI in payments (and other small business tasks)

AI is transforming payment processing and small business operations by making transactions faster, more secure, and seamless for customers. Businesses are using AI-driven fraud detection systems to identify suspicious transactions in real-time, reducing chargebacks and fraud risks. Chatbots and AI-powered virtual assistants streamline customer support during checkout, answering FAQs and assisting with payment issues. Predictive analytics helps optimize pricing and recommend personalized discounts, while automated invoicing and reconciliation tools reduce manual workload. AI also enhances biometric authentication, enabling smoother, password-free checkouts.
Are you exploring AI for any specific payment challenges in your business?

• This reply was modified 2 weeks, 6 days ago by kees_b.

Great ideas!

In reply to Reply To: How to use AI in payments (and other small business tasks)

Yes ideas like these are what I’m looking for (just no product links, please). I’m looking for all the ways AI is being used and how small businesses can afford it.

AI Improving Conversion Rates for Ecommerce and Storefronts

In reply to How to use AI in payments (and other small business tasks)

I’m primarily looking for answers on how AI can improve conversion rates by creating automations. In ecommerce, for example, Stripe (payment processor) use AI so that the checkout window can display the most relevant (even preferred) payment method of each customer.

I don’t use Stripe myself but if small business owners use something similar then I would like ideas and maybe some recommendations?

[adam brown766]

Reply To: How to use AI in payments (and other small business tasks)

In reply to How to use AI in payments (and other small business tasks)

just came across your question and thought about the safety and transparency of payment processing through ai and i am really curious that is there really a way to integrate ai in payment processing systems i have searched on google but didnt find any interesting articles related to this specific question.

• This reply was modified 2 weeks, 1 day ago by adam brown766.
• This reply was modified 2 weeks, 1 day ago by Wizard57M-TR.

Checkouts and payment methods

In reply to Reply To: How to use AI in payments (and other small business tasks)

From what I’ve read Stripe uses AI to make dynamic checkouts where AI can filter the payment methods and currency by analyzing the shopper’s profile. There’s also payment orchestration where AI is used to choose the right payment processor that gives the highest chance of getting the transaction approved. I think this means a business can use more than one payment processor..?

[Author]

Replies