Apple Pay has recently been available in Bosnia and Herzegovina. What are the first results you have seen and what does this step forward mean for Visa card users?
The introduction of Apple Pay to the Bosnia and Herzegovina market represents an important step in the development of the local digital payments ecosystem, not only because of its convenience, but also because of the security and privacy that this technology enables. The first results already show great interest from users who value speed, convenience and security, so we are recording a high level of interest and growth in usage in everyday transactions: from shopping in supermarkets to paying in restaurants, retail stores and online shopping. For Visa users, Apple Pay means carrying your wallet in your phone or even on your smartwatch, while your card is protected by biometric authentication and a unique security code. This is especially important at a time when users increasingly expect payments to be fast, secure and contactless, whether they are walking around Baščaršija or shopping online. We believe that this is just the beginning of a broader digital transformation of the BiH market.
How important is the digitalization of payments for the development of the BiH market and how does Visa contribute to the expansion of the digital economy?
Digitalization of payments in Bosnia and Herzegovina is no longer a luxury, but a necessity. Our Value of Acceptance research showed that 65% of small businesses recorded sales growth after the introduction of card payments, while 67% increased their customer base. In addition, 87% of entrepreneurs who already use digital payments would recommend them to businesses that operate exclusively with cash. It is particularly interesting to note that as many as 26% of companies lost customers because they did not offer digital payments. Visa is therefore actively contributing to the digitalization process by expanding the acceptable network of digital payments. In partnership with Monri Payments and with the support of the Sarajevo Canton, in the heart of Baščaršija, we are empowering entrepreneurs who preserve tradition, but want to operate according to the rules of the modern market. In this way, we are building a bridge between cultural heritage and the technological future. For us, a digital transaction is not just a number. It is a signal of trust, security and economic potential. When we empower one entrepreneur, we strengthen the foundations of the entire economy.
Visa collaborates with local banks and partners to bring additional benefits and innovations to customers. Can you highlight an example of a successful collaboration or initiative on the BiH market?
At Visa, we believe that strong partnerships are the key to expanding financial inclusion and relevant digital solutions. In Bosnia and Herzegovina, in the past few years, through joint initiatives with the companies "dm" and Think Pink, we have supported the fight against breast cancer - connecting everyday purchases with a socially responsible goal. Through the OREA bazaar platform, which we supported together with partners, we have provided local creatives and small producers with the opportunity to market and distribute their products with secure and digitized payments.
What are Visa's plans in the coming period when it comes to innovation and improving the customer experience?
Visa continues to set standards in the field of digital payments, focusing on innovations that shape the next phase of commerce. This is Agentic Commerce or AI commerce. This is a model in which AI agents perform tasks and purchases on behalf of users, allowing them to optimize time and receive a hyper-personalized experience. The key difference is that these technologies do not replace humans, but free them from routine processes, allowing them to make strategic, meaningful decisions. So, in the very near future, users will not just click to buy, but will have digital agents doing it for them, in accordance with personal preferences, budgets and goals. For us at Visa, this means not only developing technology, but creating value that is accessible to everyone. So we continue to invest in AI infrastructure, security, but also market education, so that users can make the most of the advantages of the digital world, with complete trust in the network that connects them to the world. I will also add that Visa already uses hundreds of advanced AI models that process more than 310 billion transactions per year, collecting 13 billion pieces of data per day from over 4.7 billion cards worldwide. In the past year alone, thanks to this infrastructure, fraud worth over $ 40 billion was prevented.
