- Key insights: JPMorganChase's payments unit is expanding its use of agentic AI via a partnership with a French software company.
- What's at stake: Most large banks and payment companies are developing uses for agentic AI, which enables payments and other functions with little or no human supervision.
- Forward look: The bank is testing agentic commerce with Paris-based Mirakl Nexus, with a broader rollout scheduled for later this year.
JPMorgan Payments is officially in the agentic commerce game following a partnership with Paris-based software seller Mirakl.
The tie-up will bring agentic commerce to merchants by combining JPMorgan Payments' payment infrastructure and risk controls with Mirakl Nexus, an agentic commerce infrastructure that allows AI agents to interact with merchants' product catalogues.
"We are entering an era where AI agents won't just assist with shopping, they will transact. As agents move from browsing to buying, the differentiator won't be AI — it will be governance: identity, consent, limits, and interoperability at global scale," Mike Lozanoff, global head of merchant services at JP Morgan Payments, said in a statement. "Our job is to make that autonomy safe and auditable, with verified agent identity, user-controlled permissions, and bank-grade risk management built into every payment."
Agentic commerce refers to using
"AI is likely to erode bank profitability as consumers start routinely using AI agents to optimize their finances (for example, automatically moving deposits into higher-yield accounts), which would reduce customer inertia and reshape industry economics," McKinsey said in its 2025 Global Banking Review, adding agentic AI could disrupt deposits and credit card lending in particular by cutting through inertia.
Ireland gets a new P2P payments service
Three banks in Ireland are adopting a new peer-to-peer payment service.
AIB, Bank of Ireland, and PTSB have teamed up with Zippay, an in-app mobile payment service developed by European payments fintech Nexi, that allows customers to send, receive and split payments by using a mobile phone number, similar to
"Partnering with Irish retail banks to bring Zippay to market allows us to further accelerate the evolution of digital payments in Europe," said Renato Martini, digital banking solutions director at Nexi Group, in a statement. "Once launched the service will be available to all other Irish financial institutions, Nexi will manage the entire technology integration process."
The initial, phased rollout at the three banks has the potential to reach more than 5 million customers. Customers will be able to send a maximum of 1,000 euros per day, and request up to 500 euros per transaction, according to Brian Hayes, CEO of Banking & Payments Federation Ireland. —Joey Pizzolato
Revolut's UK bank debuts
As London fintech Revolut seeks a
Current customers will receive new Revolut bank accounts in the coming weeks.
"Launching our U.K. bank has been a long-term strategic priority for Revolut, and marks a significant moment in our journey," Nik Storonsky, co-founder and CEO of Revolut, said in a release. "The U.K. is our home market and central to our growth. We look forward to introducing a full suite of banking services to our millions of U.K. customers."
Revolut has pledged to invest $13 billion in its global expansion over the next five years, which includes creating 10,000 jobs and launching in 30 new markets by 2030. —John Adams
Global Payments gets a gig at the IRS
The Internal Revenue Service has selected Global Payments as the preferred digital payments source for this tax season. Global Payments' Link2Gov subsidiary enables taxpayers to make payments using credit, debit and other digital payments methods.
"Digital transformation in government services is not just about technology, it's about empowering taxpayers with greater choice, security and confidence," said Jason Pavona, general manager of North America at Global Payments, in a release.
Ripple seeks deeper ties in Australia
Blockchain fintech Ripple has agreed to acquire BC Payments Australia, a deal that would provide Ripple with an Australian Financial Services License.
Terms of the deal were not disclosed, and are subject to regulatory approval. For Ripple, it would add to its 75 regulatory licenses globally. It would also enable Ripple to expand its products in Australia, where the firm participates in payment technology initiatives such as the Reserve Bank of Australia's Project Acacia digital commerce program and the national Digital Finance Cooperative Research Centre.
If Ripple obtains an Australian license, it plans to directly oversee settlement, support its clients integrations with local Australian payout partners and take more control over payment processing. It would also further
Canada tests a 'tokenized' bond
The Bank of Canada is working with RBC, TD Bank and Export Development Canada on Project Samara, which is evaluating how distributed ledger technology can improve bond issuance and settlement.
As part of the project, EDC has issued a test tokenized bond, which was sold and traded on Samara's platform. The platform supports cash and bond issuance, bidding, coupon payment, redemption and secondary trading on a distributed ledger. The security was a $100 million Canadian dollar-denominated bond.
The test showed that counterparty and settlement risk were reduced, but new operational risks related to technology, auditability and fallback mechanisms were introduced, according to the Bank of Canada.
"Project Samara shows how the public sector and industry can work together to harness innovation in the payment ecosystem. The project allowed us to understand the real-world benefits and challenges of tokenization in capital markets. The bank welcomes further collaboration in this fast-developing area and will continue to play a role as enabler of innovation in payments that serve Canadians," Ron Morrow, executive director of payments, supervision and oversight for Bank of Canada, said in a release. —John Adams
Remittance fintech nabs Bank of Canada registration
LemFi, a London-based fintech originally designed for immigrant remittances, has been registered to be a payment service provider by the Bank of Canada, the company said Tuesday.
The registration puts the company under the country's federal supervisory framework, called the Retail Payment Activities Act, a 2024 Canadian federal law that requires payment service providers to register, manage operational risks, safeguard user funds and report incidents to the central bank.
"Canada is one of the world's most important remittance markets, driven by a diverse and growing immigrant population," Rian Cochran, co-founder and CFO of LemFi, said in a statement. "Being registered as a Payment Service Provider under the RPAA reflects our commitment to building a platform that is not only innovative but deeply aligned with the highest regulatory and operational standards."
LemFi has about two million customers globally, and holds licenses to operate in the U.K., Ireland, Australia and 14 U.S. states. It also has banking partners in the Phillipines, Pakistan and Nepal. Customers can send money to more than 30 countries in Africa, Asia, Europe and Latin America. It also has credit and savings products in the U.K. —Joey Pizzolato
Jamaica-based JN Bank add Diebold Nixdorf's cash recyclers
JN Bank, a mutually owned commercial bank
"Cash recycling has helped us revolutionize our branch network so that we can focus on serving members, having conversations and being more consultative," said JN Bank's Chief of Digital Transformation and Special Projects Ricardo Dystant in a statement.
JN Bank, which has used Diebold's "smart" ATMs since 2010, plans to expand its self-service network to more than 200 ATMs by 2027, and replace older units with cash recyclers. The bank said it is also exploring mobile wallet connections and new self-service banking channels with Diebold. —Joey Pizzolato
