Trust, Tech & Tap-to-Pay: Visa’s Sandeep Ghosh on the future of money in India

From wearable rings that process payments to AI-powered experiences and retina scan authentication, the future of money is here, just unevenly distributed, says Sandeep Ghosh, Group Country Manager, India and South Asia, Visa.

In an exclusive conversation with e4m, Ghosh unpacked the current fintech landscape, the role of trust in digital transactions, and what innovations Visa is bringing next to India.

Despite leading digital innovation, Ghosh still finds joy in visiting bookstores and watching films like Top Gun: Maverick on the big screen. “There’s nothing like watching a blockbuster in a cinema hall,” he said, highlighting how some traditional experiences remain irreplaceable, even in an increasingly digital world.

When asked about overhyped tech trends in payments, Ghosh offered a nuanced take: “It’s not about overhyped, it’s just not evenly distributed,” he said, referencing a quote from Visa’s global head of products, Jack Forrestal. What is game-changing, he noted, are frictionless transit payments, like London’s tap-and-go public transport systems. “You don’t need a local card. Just take out a Visa card from anywhere in the world and tap.”

He sees this level of seamlessness as the next big leap for Indian public transport, pending stakeholder adoption. “The tech is already there,” he emphasised. “We just need key players to get on board.”

While data has been hailed as the new oil, Ghosh argues that trust is the true bedrock of digital payments. “It’s at the core of everything we do at Visa,” he said, commending India’s early adoption of tokenisation to enhance both trust and security. “Interestingly, some of those regulations have also improved user experience.”

Forget scanning every item at checkout, Ghosh is fascinated by self-checkout tech where placing your basket into a designated area automatically calculates the bill. “It’s not rocket science, but it’s so efficient,” he said. He also pointed to wearables like rings and retina-based authentication as examples of how payments are becoming more embedded and intuitive.

When it comes to customer service in fintech, Ghosh doesn’t pick sides. “Why choose between AI and humans? The best experience is a blend, scalability from bots, empathy from humans.”

Looking ahead, Ghosh teased several Visa innovations that could disrupt India’s payments landscape:

• Visa Flex Credential: Already launched in Japan and the US, this reimagines the traditional card format for the future.
• Visa Accept: Turns any NFC-enabled smartphone into a payment-accepting device, ideal for empowering individuals and small businesses to become merchants.
• Agentic AI Commerce: Envisions AI agents handling repeat purchases or making initial buying decisions, a future Ghosh sees on the horizon.

On a personal note, as a self-proclaimed foodie, Ghosh swears by a “really, really good burger” to recharge. His other stress busters include sports, especially pickleball and table tennis, and spending time with family and colleagues over meals.

One thing he wishes tech could fix immediately? Spam calls. “If my phone could detect and kill spam calls without ringing or vibrating, that would be mental relief.”

Ghosh says he is looking forward to TechManch 2025 as he excited about meeting diverse voices shaping the future of commerce, payments and marketing. “It’s as much about listening and learning from others as it is about sharing what we’re doing at Visa.”