Mastercard Inc. is teaming up with Microsoft Corp., IBM, and other artificial intelligence firms to let AI agents shop online and pay for items on behalf of users.
According to the announcement, the program is designed to simplify how people find and purchase products by using smart AI assistants like Microsoft’s Copilot.
Instead of scrolling endlessly through shopping websites, users can simply tell their AI what they want, such as searching for “a pair of yellow running shoes in size 9”.
Once the AI agent finds the right product, it will help the shopper choose the best payment method and even complete the transaction. However, the shopper will always have the final say and will still approve the purchase before any payment is made.
“The launch of Mastercard Agent Pay marks our initial steps in redefining commerce in the AI era, including new merchant interfaces to distinguish trusted agents from bad actors,” said Jorn Lambert, Mastercard’s chief product officer, in a statement.
Mastercard says the new system will help cut down the time and hassle it takes to find specific items online. The goal is to make shopping faster and easier while keeping users in control of what they buy.
AI tools are already used in online ads and product suggestions, but Mastercard’s move adds payment features and more decision-making abilities to these tools. Even with these upgrades, the AI won’t be allowed to make purchases automatically. It can find products and give advice, but the user still clicks the final “buy” button.
In addition to helping everyday shoppers, Mastercard is also working with IBM to use this tech in business-to-business transactions. This could change how companies buy from each other using smart agents that follow instructions and handle routine purchases.
Mastercard says it is taking steps to make sure AI shopping stays safe by helping merchants tell the difference between good agents and fake ones.
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