Smart Payments are the future of financial transactions and with the help of AI businesses can easily create these efficient and cost-effective payments, revolutionizing the way we pay for goods and services. The term "smart payment" refers to any payment system that uses advanced technology to make transactions more efficient, secure, and convenient. These systems use a variety of technologies, including mobile devices, biometrics, and APIs, to facilitate payments in a way that is faster, more secure, and more convenient than traditional payment methods. If you're unsure of where to begin, here are seven steps to create Smart Payments using AI. The first step in creating Smart Payments is to identify the business need. This includes understanding the current payment process and identifying any pain points or inefficiencies.