Mastercard and PayPal are joining forces to scale agentic AI-powered payments, significantly impacting millions of consumers and merchants. This partnership involves integrating Mastercard’s Agent Pay with PayPal’s branded digital wallet, allowing AI agents to process transactions automatically. Richard Crone, a payments consultant, predicts that Mastercard Agent Pay could be operational by Black Friday, aiming for a holiday rollout. This collaboration emphasizes enhancing personalized payment experiences using generative AI for customer service and security. As agentic commerce gains traction, forecasts suggest bots will represent 70% of retail site traffic by 2028, shifting the economic landscape for merchants. Both Mastercard and PayPal aim to integrate AI-driven solutions across various payment types, ensuring seamless and secure transactions. This initiative reflects a growing trend where AI is revolutionizing financial services, with investment projected to reach $41 billion by 2030. The collaboration aligns with existing industry standards, enhancing security and efficiency in digital commerce.
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