Agentic Commerce

Visa has collaborated with technology firm Bluefin to build "card present" security that includes tools to mitigate risk from new forms of artificial intelligence.

The New York City-based credit union is planning to roll out the technology as more consumers turn to large language models to help manage their finances and hopes it will eventually provide more insight into its members.

The stablecoin technology firm and about two dozen companies have joined to standardize authorization and other risk management for agentic commerce.

As AI agents promise a future where payments self-execute and investment portfolios rebalance without human intervention, some fear that retail banking is the next logical evolution for agent-led automation. Financial institutions may not be doing enough to stop it.

Banks, fintechs and card networks are vying for a share of revenue from the new form of artificial intelligence. Mastercard CEO Michael Miebach contends his firm has the tools in place and a product pipeline to take advantage.

As consumers get more comfortable with the technology, they will want multiple checkout options beyond cards, creating a need for more digital wallets and account-to-account rails.

Speaking at the New York Federal Reserve's Innovation Conference on Friday, New York Department of Financial Services acting Superintendent Kaitlin Asrow said the regulator was interested in maintaining long-standing consumer protections as AI adoption increases.

Visa and Mastercard are making it easier for AI agents to make autonomous payments within large language models, while fintechs such as Robinhood and Coinbase are opening their doors to those same agents to keep customers within their ecosystem. Payment experts say that puts banks on the defensive.

With the big card networks and Coinbase pushing the new form of artificial intelligence, the blockchain company is offering a tool kit to enable AI agents to perform transactions.

The Dutch payment processor says that overall declines in payments crime obscure a broader danger as the threat migrates to hard-to-spot consumer uses and AI.

The companies are connecting their tools in an effort to streamline the complexities involved in payments that use digital assets and advanced artificial intelligence.

The brokerage fintech launched agentic trading and an agentic credit card today that will allow AI agents to trade equities and make credit card purchases on customers' behalf. It comes just weeks after OpenAI rolled out its own personal finance tool.

Prashant Sharma, JPMorgan Payments' executive director of biometrics and identity solutions, spoke with American Banker about agentic commerce and how liability is shifting as a result of large language models.

Citi payments exec Driss Temsamani said there's more work needed to bridge gaps to enable artificial intelligence to work broadly for payments and finance.

The payments giant is counting on the FIFA World Cup this summer for windfalls in its consumer and commercial businesses. Long-term, agentic commerce is creating a whole new ecosystem to which Visa can attach itself, Visa CEO Ryan McInerney said on a call with analysts.

The credit card lender, which is scheduled to report first-quarter earnings April 23, followed its release of an agentic commerce kit by agreeing to acquire Hypercard, a Sam Altman-backed company that uses AI to support expense management.

The card network expanded work with blockchain firms OwlTing and Tempo, increasing its reach into agentic commerce and stablecoins.

The credit card company has issued a developers' kit to perform AI agent verification and aid merchants and shoppers, and is working with agentic AI protocols from other technology companies.

The card brand introduced tech for businesses to tap agentic AI, while Revolut counters Italy's accusations of inaccurate marketing. That and more in the American Banker global payments and fintech roundup.

Emerging forms of artificial intelligence are moving so fast, traditional IT training isn't an easy fit. New research from American Banker shows how banks are handling training.