Mastercard reports that approximately 132 million consumers currently use artificial intelligence, creating a significant user base for the development of agentic commerce. According to U.S. Co-President Chiro Aikat, this technology is evolving faster than previous payment innovations like EMV or mobile payments.
Despite the growth in AI usage, data from PYMNTS indicates that consumer willingness to delegate purchasing authority to AI agents is not increasing at the same rate. Users are becoming more selective about the tasks they assign to software as they learn more about its limitations.
Mastercard is addressing these challenges with its Agent Pay solution, which allows AI to handle tasks such as identifying products and facilitating transactions. The company is also developing specific standards and agentic tokens to support these automated purchases.
A key hurdle for agentic commerce is integrating complex consumer preferences, such as airline miles, loyalty rewards, and return policies, into the decision-making process. Mastercard aims to ensure that these agents prioritize consumer control and trust during transactions.
