What Visa’s New AI Tools Mean for Small Biz—and Why I’m Betting on Them

Hey friends,

Last week on Instagram, I asked what you would like to see more of in this newsletter—and the response was clear: more behind-the-scenes on my life as a venture capital investor.

In the spirit of the best tech teams, I believe in building fast and iterating often. So here is me, listening and responding in real time.

Let’s dive in.

👀 A Peek Behind the Curtain

As many of you know (or maybe do not?), my day job is as a VC investor. I evaluate early-stage startups building innovative software solutions—often before they even have revenue.

And lately, I have been thinking a lot about how to merge this part of my life with the writing and public storytelling I do. The lines are blurring more and more—and I am leaning into it.

💳 Visa Demo Day 2025: Where Reporting Meets Venture

Last week I attended Visa’s Product Demo Day in San Francisco:

It was one of those rare moments where everything about my platform came together. I was invited as a contributing writer for Forbes, and I had the chance to interview Visa’s Chief Product Officer, Jack Forestell.

I asked whether Visa’s new agentic AI product would include the ability to reflect a user's personal values or ethical preferences. (Think: veganism, anti-gambling, faith-based filters.) Spoiler: not yet. But Jack was intrigued and hinted that future versions might move in that direction.

If they do—you heard it here first.

📈 SMBs: The Overlooked Powerhouse

One thing that stood out loud and clear from Visa’s demo day: the company is making a deliberate and strategic push into serving small and midsize businesses (SMBs).

This might surprise you. Visa is a global behemoth, processing trillions in payments annually. But increasingly, the real battleground is not just about mega-merchants—it is about the millions of smaller businesses that keep local economies running.

Visa’s leadership made it clear that they see SMBs as the future growth engine of their ecosystem. A few takeaways:

• ➡ Dedicated AI products for SMBs. One of the demos focused on AI-driven insights designed specifically for small business owners—think automated cash flow projections, spend categorization, and financial health nudges delivered in real time. The goal? Give SMBs CFO-level intelligence without the headcount.

• ➡ Streamlined onboarding. Another product tackled the cumbersome experience SMBs face when applying for financial services. Visa is working on infrastructure that lets banks and fintechs instantly verify and underwrite small businesses with minimal friction.

• ➡ Merchant support beyond payments. There was a clear shift in narrative—from Visa as just a card network to Visa as an SMB enabler. They are investing in tools to help businesses market themselves, reach new customers, and manage expenses—all embedded into their financial platforms.

This aligns with a broader trend I have been tracking: the rise of verticalized, software-first platforms for SMBs that go far beyond simple payment processing. These are products designed to integrate seamlessly into a business’s daily workflow—whether you are a salon owner, contractor, or independent retailer.

Visa is not just reacting to this trend—they are positioning themselves to power it.

This kind of investment matters because, as I wrote in my report on the SMB Innovation Economy, SMBs are:

1. Staying smaller for longer

2. Underbanked despite strong cash flows

3. Adopting tech at a faster clip post-COVID

💡 And here’s a little scoop just for you: I will be sharing a piece on this in Forbes soon, but you are getting the preview here first—because you are a subscriber. 😉

🌍 What About Emerging Markets SMBs?

Another theme that jumped out at me: small businesses in emerging markets are quietly becoming one of the most exciting (and overlooked) segments in fintech.

From new credit rails to country-specific compliance infrastructure, there is a lot to unpack here—and I will be diving deeper in next week’s newsletter.

As you can imagine, this area was of particular interest for me given the fact that I first wrote about emerging markets fintech opportunities five years ago.

The Visa product demo day validated so much of what I have been sensing—not just as a writer, but more importantly, as an investor. It confirmed that we are still early in the wave of innovation aimed at SMBs, and that there is real momentum building.

The next step for me is to continue sharing my perspective with you and begin identifying companies worth championing and investing in—starting with SPVs. I cannot wait to bring you along for the ride.

🎙 Content Recap

No new Forbes article or Money Memories episode this week—but stay tuned!

• Coming soon: A Forbes deep dive on Visa’s product demo day and what it signals for agentic AI tools and innovation for SMBS in emerging markets.

• Next drop: A brand-new Money Memories episode this Wednesday 👀

In the meantime, you can catch up on past episodes here and read my Forbes archive here.

📍 Where I'll Be

If you are attending any of these upcoming events, let me know—I would love to find time to connect:

• May 7 - I featured Operation HOPE in a Money Memories episode last winter and the kind team invited me to a ribbon cutting ceremony here in LA. It’ll be my first one and I’m so looking forward!

• May 8 – Equal Ventures Insurtech Summit, NYC

• May 9 - 10 – Catching up with my alma mater, the University of Pennsylvania, in Philadelphia

I am always looking to meet thoughtful founders, fellow investors, and curious readers. Just reply to this email or drop me a DM on IG (@ilonaonthemoney) to coordinate.

🔗 Other Interesting Reads & Listens

📌 Sam Altman’s Eye-Scanning Crypto Project Comes to the US - Sam Altman is screening our eyes. I got invited to this event and can’t lie, I was too confused to even think about something I can write about.
📌 Kentucky Derby Workers at Center of New Immigration Reform Push – In the spirit of this weekend’s Derby, highlighting the often overlooked track workers. In case you’re wondering, I did not win money on my Derby pick 😩

Did you like this new format? Is there something you want to see more (or less) of? Just hit "reply" and send me your thoughts—or shoot me a DM on Instagram.

Till next week!
💛 Ilona