In recent years mobile apps have dramatically affected almost every business sector with its invasion. Integration of mobile app technology in the banking industry has proven the most efficient way to digitize the payment process. Now, the artificial intelligence is acting as a tool to evolve the mobile apps in order to make them smarter. Against to what we thought, the mobile payment process is integrating the AI technology sooner than we expected.Artificial intelligence is the stream of technology that homes the terms like machine learning, Predictive Analysis, Speech to Text, Natural Language Processing (NLP), Machine Vision, Image Recognition, and Expert Systems. Most of the payment mobile apps are already leveraging the technologies such as chatbots and text recognition systems, P2P money transfer and streamlined payment. The money transaction services such as PayPal are integrating their chatbots to the social media apps to enable the user to make a transaction within the app between the contacts.However, along with these AI integrations in the mobile payment services are continuously exploring the AI to solve the payment process. Here are some ways AI is revolutionizing the mobile payment applications.1. Saving Time And Effort With Grab and Go ApplicationsIn order to provide service that focuses on saving the user&rsquo;s time and effort the mobile applications let user&rsquo;s do shopping without any hassle. With the help of speech recognition, pre-order via text and making payment through bots user can buy anything from the store using the app. This will help the users in ditching the need of going to the shop, and standing in the queue to make a payment, just go and grab the order item.2. Machine Learning Enhances The Fraud Detection ServiceFraud detection system needs to be updated with the time and traditional methods and ways are no longer capable of detecting the fraudulent activities now. In order to make sure the flawless security of the payment system, all the transaction needs to be observed without any scope of error. A large number of transaction requires being reviewed&nbsp;manually in order put a curb on the fraud payment activities. Machine learning equipped fraud detection systems have been used by the payment services to secure the payment process. The system is capable of improving itself consistently by learning everytime any fraudulent payment detected to cope up with the different tactics of the fraudsters. In addition, the system also reviews the immense amount of transaction easily. This application gives the glimpse of the potential future of AI in security and protection system.3. Machine Learning Helps In Reducing False declinesAccording to a report from the BI intelligence, false declines considered as the non-fraudulent transaction causes more loss to the companies than a fraudulent transaction. This makes the implementation of machine learning security system with predictive capabilities necessary to reduce the false declines. The report states that Falsely decline transactions caused $8.6 billion loss in 2016, whereas the actual fraud loss projected as $6.5 billion in 2016.The mobile payment system is expected to explore new ways of leveraging the AI in coming time. Let us know what you think about recent AI news, advancement and controversies over the past few months via comments.