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— A weekly publication —

The Agentic Commerce Report

A weekly read of everything that moved in agentic commerce — protocols, payment rails, retailer pilots, regulation. Summarised, sourced, and stitched to what came before.

Agentic Payments & Payment Rails

21 events tracked

Three card networks now run distinct agent-pay programmes alongside an emerging set of token and wallet specifications. Tracked weekly here: every public deployment, partnership, and technical-spec change.

launch

Mastercard launches Agent Pay for Machines to unlock super-fast, always-on payments

Mastercard's AP4M enables machine-to-machine payments at network scale, with 30+ partners including Stripe and Coinbase.

Agent Pay for Machines (AP4M) extends Mastercard's Agent Pay programme — which reached European live deployment in June (2026-w23) — to autonomous, machine-initiated micropayments down to fractions of a cent. The service adds credentialing via Verifiable Intent, per-agent spending limits, and multi-rail settlement across cards, bank accounts, and stablecoins. More than 30 named partners signed at launch, spanning processors (Adyen, Global Payments, Checkout.com, Stripe), stablecoin platforms (Coinbase, Ripple, Tempo), and developer infrastructure (Cloudflare). This marks the first time a major card network has published infrastructure explicitly for AI-to-AI transactions without a human authorizing each payment. Circle's Agent Stack (2026-w20) and AWS AgentCore Payments (2026-w19) established stablecoin-rail components; AP4M adds card-network-grade governance, settlement guarantees, and interoperability across those rails.

  1. Mastercard Newsroom
Issue 27
launch

Building the Future of Agentic Payments: Introducing the XRP Ledger AI Starter Kit

Ripple's XRPL AI Starter Kit enables AI agents to settle XRP and RLUSD payments autonomously via the x402 protocol.

The kit extends x402 (the open HTTP micropayment standard, first adopted at scale through Stripe's Tempo mainnet in March 2026, 2026-w13) to the XRP Ledger (XRPL), adding XRP and Ripple's RLUSD stablecoin as settlement assets. x402 processed $24.24 million in monthly volume as of April 29, with 99.8% of value in USDC (2026-w20). XRPL settlement completes in 3–5 seconds with predictable transaction costs; native escrow and multi-signing provide agent spending controls. The kit includes Claude Code integration via MCP tooling, making it the first x402 implementation published with a first-party MCP server by a non-Stripe party. Ripple is also a founding partner in Mastercard's Agent Pay for Machines (2026-w24-payments-mastercard-agent-pay-machines), joining card-network settlement alongside stablecoin rails. Three distinct x402 providers — Stripe (via Tempo), Circle (via Agent Stack), and Ripple (via XRPL) — now publish production tooling for the same protocol.

  1. Ripple
Issue 27
launch

Visa Partners with OpenAI to Power the Next Generation of AI Commerce

Visa integrated its global payment network, tokenization, and fraud monitoring into OpenAI agentic experiences at the Visa Payments Forum.

Announced at the Visa Payments Forum in San Francisco on June 10, the collaboration embeds Visa Intelligent Commerce infrastructure directly into OpenAI products, including ChatGPT agents and Codex developer workflows. Visa provides tokenized credentials, real-time authorization, and fraud monitoring; OpenAI provides the agent layer that initiates transactions within user-defined spending limits and merchant category controls. This is the second major card network to announce agent-payment infrastructure on the same day — Mastercard launched AP4M simultaneously (2026-w24-payments-mastercard-agent-pay-machines). Mastercard's AP4M is an open multi-party protocol logging permissions to public blockchains; Visa's model is a bilateral integration extending its existing Intelligent Commerce infrastructure to a specific AI platform. Both card networks announcing simultaneously signals that authenticated, network-backed agent payment standards have crossed from experiment to competitive requirement.

  1. Visa Newsroom
Issue 27
launch

Helping businesses optimize network costs with the Visa Digital Commerce Authentication Program (DCAP)

Stripe reported $18.4M in annualised DCAP savings since April 18 and an 8x increase in eligible transactions.

Visa's Digital Commerce Authentication Program (DCAP) rewards US merchants for sharing richer transaction data — device ID, billing address, IP address, and customer email — during authentication in exchange for a five-basis-point interchange reduction. Stripe's Authorization Boost routed qualifying transactions through Data Only 3DS, a frictionless authentication path that sends device-risk signals to the issuer without triggering a consumer-visible step, preventing DCAP from degrading authorization rates. The $18.4 million in annualised savings accrued from April 18, the rollout date. The 8x increase in eligible transactions reflects the effect of Stripe's data-collection integration across its merchant base. DCAP is the first US card-network program to tie a cost reduction to enriched transaction data rather than to authentication outcomes, adding a financial incentive for merchants to share the cardholder data that also underlies agentic-checkout fraud scoring (2026-w22).

  1. Stripe Blog
Issue 26
launch

Introducing Circle Agent Stack: Financial Infrastructure for the Agentic Economy

Circle launched Agent Stack on May 11, giving AI agents USDC wallets, marketplace, CLI, and sub-cent nanopayments infrastructure.

Agent Stack is the first stablecoin issuer's purpose-built agent payments infrastructure, providing USDC wallets and a marketplace for agent-to-agent settlement. Sub-cent nanopayments target the API-and-machine-payment regime that AWS AgentCore Payments (2026-w19-payments-aws-agentcore-payments) addresses via x402. The launch sits structurally adjacent to Google AP2's stablecoin support (2025-w38-standards-google-ap2-protocol) and extends the Payments lane's stablecoin footprint beyond the existing card-network plus processor stack of Mastercard Agent Pay (2025-w18-payments-mastercard-agent-pay), Visa Trusted Agent Protocol (2025-w42-payments-visa-trusted-agent-protocol), and Stripe Agentic Commerce Suite (2025-w50-payments-stripe-agentic-commerce-suite). Circle's CLI tooling parallels the developer-facing surface of Mastercard's Agent Toolkit (2025-w37-payments-mastercard-agent-pay-expansion). Together with AgentCore Payments, stablecoin presence extends across two cloud-and-issuer entry points within eight days.

  1. Circle Blog
Issue 23
launch

Agents that transact: Amazon Bedrock AgentCore now includes Payments (preview)

AgentCore Payments lets AI agents pay for APIs via x402; built with Coinbase and Stripe, in AWS preview as of May 7.

AgentCore Payments extends Bedrock from agent runtime into agentic-payments infrastructure, placing AWS alongside Google (AP2 — 2025-w38-standards-google-ap2-protocol), Microsoft (Copilot Checkout — 2026-w02-payments-microsoft-copilot-checkout), and Stripe (Agentic Commerce Suite — 2025-w50-payments-stripe-agentic-commerce-suite) as cloud and processor entrants in the same lane. x402 is HTTP-native agentic-checkout plumbing, and the Coinbase involvement brings stablecoin-rail support that parallels Circle's Agent Stack (2026-w20-payments-circle-agent-stack) launched the same month. The Stripe co-build links AgentCore Payments to the same processor underlying ACP (2025-w40-payments-stripe-openai-acp-instant-checkout) and Stripe Link's agent APIs (2026-w18-payments-stripe-link-agents). The launch completes the cloud-provider trio with native agent payment offerings inside their respective managed runtimes. AgentCore Payments addresses the API-and-machine-payment regime that Circle Agent Stack (2026-w20-payments-circle-agent-stack) also targets from the stablecoin issuer side.

  1. AWS What's New
Issue 22
launch

Mastercard Q1 results indicate payments are going agentic

Mastercard Q1 2026 earnings disclosed Agent Pay is now enabled across nearly all cards globally.

Q1 2026 earnings provide the first quantified disclosure of Agent Pay's card-coverage footprint, one year after launch (2025-w18-payments-mastercard-agent-pay) and seven months after the developer-tools expansion (2025-w37-payments-mastercard-agent-pay-expansion). Near-universal global card coverage subsumes the Citi and US Bank live-issuance milestone (2025-w44-payments-mastercard-agent-pay-live-us), the PayPal wallet integration (2025-w44-payments-mastercard-paypal-integration), the Australian transaction (2026-w05-pilots-mastercard-australia-first-agentic-payment), and Santander's European first (2026-w10-pilots-santander-mastercard-europe-first-payment) within a single audited financial disclosure. The figure provides the empirical anchor for McKinsey's $3-5 trillion sizing (2025-w42-aeo-mckinsey-agentic-commerce-study) and Shopify's Q1 AI traffic disclosures (2026-w19-aeo-shopify-q1-2026-ai-traffic), all covering the same January-to-March 2026 quarter. The disclosure is the first earnings-call confirmation of agent payments at global-card-portfolio scale and the second earnings-call data point on the agentic commerce shift alongside Shopify.

  1. Payment Expert
Issue 21
launch

Link gains agent-access APIs allowing agents to request spend approval, generate one-time credentials, and pay via Stripe's network without exposing the user's underlying card details.

Link's agent APIs add a wallet-level credential primitive to the Stripe agentic stack, operating alongside the merchant-side Agentic Commerce Suite (2025-w50-payments-stripe-agentic-commerce-suite) and the consumer-side ACP launched with OpenAI (2025-w40-payments-stripe-openai-acp-instant-checkout). The one-time credential model parallels Mastercard's Agentic Tokens (2025-w18-payments-mastercard-agent-pay) and Visa's Trusted Agent Protocol credentials (2025-w42-payments-visa-trusted-agent-protocol), with the spend-approval primitive borrowing from Google AP2's Mandate framing (2025-w38-standards-google-ap2-protocol). The release is the same week as Stripe's Gemini and AI Mode integration (2026-w18-aeo-stripe-google-gemini-checkout) and the FIDO Agentic Auth working group formation (2026-w18-standards-fido-agentic-working-groups), placing Stripe across the wallet, AI-surface, and authentication layers of the agent payments stack. The announcement names spend-approval limits, one-time card generation, and tokenisation as the three primitives of Link's agent-access tier.

  1. TechCrunch
Issue 21
launch

Visa Announces Global Expansion of Agentic Ready Program

Visa expanded Agentic Ready to 85+ partners in Asia Pacific and Latin America, following 20+ live European partners.

The 85+ partner expansion is Visa's largest single geographic increase for Agentic Ready, building on the Europe launch (2026-w11-payments-visa-agentic-ready-europe) and the closed-beta volume milestone (2025-w51-payments-visa-secure-ai-transactions-milestone). Asia Pacific coverage complements Mastercard's Australian first authenticated agent payment (2026-w05-pilots-mastercard-australia-first-agentic-payment), placing both major card networks in the same regional production set within ten weeks. Latin America inclusion is the first agentic-payments expansion into that region in this archive. The programme runs in parallel with Visa's Intelligent Commerce Connect (2026-w15-payments-visa-intelligent-commerce-connect) as the protocol-agnostic acceptance layer and the Trusted Agent Protocol (2025-w42-payments-visa-trusted-agent-protocol) as the underlying credential model. The 85+ partner number is the largest single regional-expansion partner count in the Payments lane.

  1. Visa
Issue 21
launch

Visa launches Intelligent Commerce Connect

Protocol- and network-agnostic on-ramp enabling agents, merchants, and enablers to connect to the Visa agentic commerce ecosystem via a single integration.

Intelligent Commerce Connect is Visa's first protocol-agnostic on-ramp, accepting agents that speak Stripe-OpenAI's ACP (2025-w40-payments-stripe-openai-acp-instant-checkout), Google's AP2 (2025-w38-standards-google-ap2-protocol), or Visa's own Trusted Agent Protocol (2025-w42-payments-visa-trusted-agent-protocol). The single-integration model mirrors PayPal's Agent Ready (2025-w44-aeo-paypal-agentic-commerce-services) and Stellagent's Commerce Studio (2026-w20-pilots-stellagent-commerce-studio), reducing the merchant and agent-builder integration burden across competing protocols. Connect sits alongside Visa's Agentic Ready programmes (2026-w11-payments-visa-agentic-ready-europe, 2026-w18-payments-visa-agentic-ready-global) as the network-agnostic acceptance surface for agentic payments. The launch precedes Stripe's Gemini and AI Mode integration (2026-w18-aeo-stripe-google-gemini-checkout) by three weeks. Together these pieces complete Visa's network-agnostic stack. The on-ramp mirrors PayPal's Agent Ready (2025-w44-aeo-paypal-agentic-commerce-services) one-integration-many-surfaces model and the merchant-readiness positioning of Stellagent's Commerce Studio (2026-w20-pilots-stellagent-commerce-studio).

  1. Intelligent FinTech
Issue 19
launch

Visa launches Agentic Ready programme in Europe and UK

Production-grade testing programme for agent-initiated payments launched with Barclays, HSBC UK, and Nationwide as initial partners.

Agentic Ready Europe operationalises Visa's Trusted Agent Protocol (2025-w42-payments-visa-trusted-agent-protocol) at production grade outside the US, five months after the closed-beta volume milestone (2025-w51-payments-visa-secure-ai-transactions-milestone). Barclays, HSBC UK, and Nationwide cover three of the UK's largest issuer banks and arrive one week after the Santander-Mastercard European first (2026-w10-pilots-santander-mastercard-europe-first-payment), placing both major card networks in live European production within a single fortnight. The programme later expands to 85+ partners across Asia Pacific and Latin America (2026-w18-payments-visa-agentic-ready-global) and joins Intelligent Commerce Connect (2026-w15-payments-visa-intelligent-commerce-connect) as the production-rails on-ramp for European agents. The UK FCA's subsequent inclusion of agentic AI in its 2026 payments priorities (2026-w13-regulation-uk-fca-agentic-payments-priorities) cites the regulatory layer this programme operates within.

  1. Visa UK Newsroom
Issue 16
launch

Mastercard launches Agent Suite for enterprise deployment

Combines customisable AI agents, agentic payments consulting, and Mastercard payments expertise into an integrated enterprise offering targeting Q2 2026 general availability.

Agent Suite is the first enterprise-targeted productisation of agentic payments, extending the consumer-focused Mastercard Agent Pay launch (2025-w18-payments-mastercard-agent-pay) and its developer-tools expansion (2025-w37-payments-mastercard-agent-pay-expansion) into a consulting-and-deployment package. The Q2 2026 general-availability target aligns with the Q1 2026 Agent Pay milestone (2026-w18-payments-mastercard-agent-pay-q1-milestone) showing near-universal card coverage. The Suite packages the same Agentic Token primitives used in PayPal wallet integration (2025-w44-payments-mastercard-paypal-integration), Citi and US Bank issuance (2025-w44-payments-mastercard-agent-pay-live-us), and the Australian and European pilot transactions (2026-w05-pilots-mastercard-australia-first-agentic-payment, 2026-w10-pilots-santander-mastercard-europe-first-payment), repositioning them for enterprise buyers rather than individual issuers. The launch falls within the same week as the Australian first authenticated agent transaction, pairing enterprise productisation with field deployment in one news cycle.

  1. Mastercard Newsroom
Issue 12
launch

Microsoft launches Copilot Checkout with PayPal, Shopify, and Stripe

In-chat checkout on Copilot.com lets shoppers complete purchases without leaving the interface; early merchants report 194% higher purchase likelihood in Copilot-assisted journeys.

Copilot Checkout is the first chat-native checkout shipped by a top-three cloud provider and extends Microsoft's launch-partner role in Mastercard Agent Pay (2025-w18-payments-mastercard-agent-pay) into a consumer surface. PayPal, Shopify, and Stripe cover wallet, merchant platform, and processor in one integration, mirroring the stack Walmart used inside ChatGPT (2025-w42-pilots-walmart-openai-chatgpt-checkout) but deployed inside a Microsoft-owned interface. The 194% purchase-likelihood figure is the earliest disclosed lift number for an agentic-surface checkout, predating Walmart's 1.18% conversion disclosure (2026-w13-pilots-walmart-chatgpt-conversion-data) by ten weeks. Microsoft later joins the Universal Commerce Protocol Tech Council (2026-w17-standards-ucp-tech-council-expansion), placing the company in both the single-vendor and the multi-stakeholder commerce-protocol layers.

  1. Microsoft Ads Blog
Issue 11
pilot

Visa and partners complete hundreds of secure AI-initiated transactions in closed beta

Visa announces hundreds of agent-initiated payments completed with 30+ partners in Intelligent Commerce sandbox; sets mainstream adoption target for 2026.

The hundreds-of-transactions figure is the first volume disclosure from Visa's Intelligent Commerce sandbox following the Trusted Agent Protocol launch (2025-w42-payments-visa-trusted-agent-protocol). The 30+ partner count overlaps with Mastercard Agent Pay's live-issuer set (2025-w44-payments-mastercard-agent-pay-live-us), though Visa remains in closed beta while Mastercard runs production transactions. The 2026 mainstream target sets up the Agentic Ready Europe launch (2026-w11-payments-visa-agentic-ready-europe), the global expansion to 85+ partners (2026-w18-payments-visa-agentic-ready-global), and Intelligent Commerce Connect (2026-w15-payments-visa-intelligent-commerce-connect). The milestone documents the transition from spec to live transactions and frames the comparative production posture of the two largest US card networks heading into 2026. The disclosure is the final Payments-lane event of the 2025 calendar year before Microsoft Copilot Checkout (2026-w02-payments-microsoft-copilot-checkout) opens 2026.

  1. Visa Newsroom
Issue 10
launch

Stripe launches Agentic Commerce Suite

Shared Payment Tokens, one-time card generation, and end-to-end solution for selling through AI agents; URBN, Etsy, Ashley Furniture, and Coach among launch retail partners.

The Stripe Agentic Commerce Suite operationalises the Agentic Commerce Protocol Stripe co-authored with OpenAI (2025-w40-payments-stripe-openai-acp-instant-checkout) as a productised stack, joining Mastercard Agent Pay (2025-w18-payments-mastercard-agent-pay) and Visa Trusted Agent Protocol (2025-w42-payments-visa-trusted-agent-protocol) as a third commercial agentic payments offering. URBN, Etsy, Ashley Furniture, and Coach span apparel, marketplaces, home goods, and accessories, exercising the Suite across merchant categories. Shared Payment Tokens and one-time card generation later extend into Stripe Link's agent APIs (2026-w18-payments-stripe-link-agents) and inside Google Gemini and AI Mode (2026-w18-aeo-stripe-google-gemini-checkout). Stripe's parallel inclusion in the UCP Tech Council (2026-w17-standards-ucp-tech-council-expansion) places the company across every major commerce-protocol governance body. The Suite ships eleven weeks after the ACP launch, converting protocol to product on a one-quarter timeline.

  1. Stripe Newsroom
Issue 9
pilot

Mastercard Agent Pay goes live for Citi and US Bank cardholders

First confirmed live issuers for Mastercard Agent Pay; full US cardholders rollout announced for November 2025.

Citi and US Bank are the first confirmed issuers to enable Agent Pay on live cardholder credentials, six months after the April launch (2025-w18-payments-mastercard-agent-pay) and five weeks after the developer-tools expansion (2025-w37-payments-mastercard-agent-pay-expansion). The full-US rollout target of November 2025 sits before Visa's parallel sandbox milestone (2025-w51-payments-visa-secure-ai-transactions-milestone) by six weeks. Visa records hundreds of closed-beta transactions across 30+ partners by mid-December while Mastercard runs production transactions on Citi and US Bank cards. The Citi-US Bank pairing covers both a major US-issuer bank and a regional issuer, exercising the Agentic Token model across issuer tiers. Australia's first authenticated agent payment (2026-w05-pilots-mastercard-australia-first-agentic-payment) and Europe's Santander milestone (2026-w10-pilots-santander-mastercard-europe-first-payment) follow within four months.

  1. Digital Commerce 360
Issue 6
launch

Mastercard and PayPal integrate Agent Pay into PayPal wallet

Mastercard Agent Pay integrated into PayPal's wallet, enabling AI agents to complete transactions on behalf of PayPal users with fraud detection and buyer protection.

The PayPal integration extends Mastercard Agent Pay (2025-w18-payments-mastercard-agent-pay) from its card-network base into a major digital wallet, adding fraud detection and PayPal Buyer Protection to the agentic transaction set. The deal precedes PayPal's own Agentic Commerce Services (2025-w44-aeo-paypal-agentic-commerce-services) by one day, pairing a network-level credential with a wallet-level discovery and acceptance layer. PayPal Instant Buy later powers Perplexity's free shopping agent (2025-w47-aeo-perplexity-paypal-instant-buy) and joins Microsoft Copilot Checkout (2026-w02-payments-microsoft-copilot-checkout). The integration uses the same Agentic Token model that goes live for Citi and US Bank cardholders the same week (2025-w44-payments-mastercard-agent-pay-live-us), establishing PayPal as a parallel issuance surface.

  1. PayPal Newsroom
Issue 6
spec

Visa introduces Trusted Agent Protocol

Open framework developed with Cloudflare lets merchants verify AI agents and distinguish them from malicious bots; 12 launch partners include Shopify, Stripe, Adyen, and Microsoft.

The Visa Trusted Agent Protocol is Visa's response to the Mastercard Agent Pay launch (2025-w18-payments-mastercard-agent-pay), arriving roughly six months after and co-developed with Cloudflare's edge bot-management infrastructure. The 12-partner roster overlaps with both Stripe-OpenAI's ACP (2025-w40-payments-stripe-openai-acp-instant-checkout) and Google's AP2 (2025-w38-standards-google-ap2-protocol), positioning Visa as a multi-protocol participant. The framework's bot-distinction problem is later quantified by Visa's own PERC threat report (2025-w47-security-visa-perc-fall-2025-threats) and by Google's prompt-injection census (2026-w17-security-google-prompt-injection-empirical-study). TAP becomes the foundation for Visa's Intelligent Commerce Connect on-ramp (2026-w15-payments-visa-intelligent-commerce-connect) and the Agentic Ready production programme in Europe (2026-w11-payments-visa-agentic-ready-europe) and globally (2026-w18-payments-visa-agentic-ready-global). Shopify, Stripe, Adyen, and Microsoft in the launch roster overlap with the Mastercard, OpenAI, and PayPal ecosystems, placing the same processor and merchant set across both card networks.

  1. Visa Newsroom
Issue 5
launch

Stripe and OpenAI launch Agentic Commerce Protocol and ChatGPT Instant Checkout

Jointly developed open standard enables agent-to-merchant commerce via Shared Payment Tokens; US users can purchase from Etsy and Shopify merchants directly in ChatGPT.

ACP is the first agent-to-merchant agentic-payments spec co-authored by a payment processor and an AI vendor, contrasting with the network-led model of Mastercard's Agent Pay (2025-w18-payments-mastercard-agent-pay) and Google's AP2 (2025-w38-standards-google-ap2-protocol). Shared Payment Tokens delegate scoped charge authority from user to agent without exposing the underlying card. The Etsy and Shopify launch surfaces map to two merchant ecosystems whose ChatGPT integrations later extend to Walmart (2025-w42-pilots-walmart-openai-chatgpt-checkout). Stripe's full Agentic Commerce Suite (2025-w50-payments-stripe-agentic-commerce-suite) operationalises ACP at scale, and Stripe Link adds agent APIs (2026-w18-payments-stripe-link-agents). OpenAI retires the centralised merchant-of-record model in 2026 (2026-w13-aeo-openai-instant-checkout-shutdown), pivoting to brand-owned agentic checkout. Walmart's same-week disclosure of one-third conversion versus its own site (2026-w13-pilots-walmart-chatgpt-conversion-data) is the empirical signal that drove the retirement.

  1. Stripe Newsroom
Issue 3
launch

Mastercard expands Agent Pay with developer tools and Stripe, Google, Antom partnerships

New Agent Toolkit, Insight Tokens, and Agent Sign-Up tools released; Stripe, Google, and Ant International's Antom join as implementation partners.

The expansion adds the developer-facing layer that the April Mastercard Agent Pay launch (2025-w18-payments-mastercard-agent-pay) deferred: an Agent Toolkit for integrators, Insight Tokens for merchant context, and an Agent Sign-Up flow. Stripe's involvement predates its own Agentic Commerce Suite (2025-w50-payments-stripe-agentic-commerce-suite) by three months and the Agentic Commerce Protocol launch with OpenAI (2025-w40-payments-stripe-openai-acp-instant-checkout) by three weeks. Antom brings Ant International's Asia-Pacific agentic-payments rails into the partner set, foreshadowing Mastercard's Australian agent transaction (2026-w05-pilots-mastercard-australia-first-agentic-payment). The structural pattern — card network plus payment processor plus AI vendor — recurs in Visa's Trusted Agent Protocol (2025-w42-payments-visa-trusted-agent-protocol) the following month with Stripe, Adyen, and Microsoft. Google's involvement at this stage predates the Universal Commerce Protocol launch (2026-w02-standards-google-ucp-launch) by four months.

  1. Mastercard Newsroom
Issue 1
launch

Mastercard unveils Agent Pay

Network-level agentic payments programme introduces Agentic Tokens — cryptographically secure, traceable credentials for agent-initiated transactions — with Microsoft as launch partner.

Mastercard Agent Pay is the first network-level entry from a card scheme into agentic payments, predating Visa's Trusted Agent Protocol (2025-w42-payments-visa-trusted-agent-protocol) by roughly six months. Agentic Tokens borrow from EMVCo tokenisation, binding a card credential to a specific agent identity and transaction context. The launch frames the network rails — not the agent vendor — as the trust anchor, a position Mastercard extends through PayPal wallet integration (2025-w44-payments-mastercard-paypal-integration), live Citi and US Bank issuance (2025-w44-payments-mastercard-agent-pay-live-us), enterprise Agent Suite (2026-w05-payments-mastercard-agent-suite-enterprise), Australia's first authenticated transaction (2026-w05-pilots-mastercard-australia-first-agentic-payment), and Europe's first live end-to-end agent payment with Santander (2026-w10-pilots-santander-mastercard-europe-first-payment). By Q1 2026 (2026-w18-payments-mastercard-agent-pay-q1-milestone) Mastercard Agent Pay covers nearly all Mastercard cards globally.

  1. Mastercard Newsroom

What is agentic payment infrastructure?

Agentic payments — the umbrella term for AI-agent-initiated card, token, and stablecoin transactions — refer to the set of card-network protocols, tokens, and authorisation flows that let an AI agent initiate and complete a payment on a consumer's behalf. The agent acts without per-transaction human approval. The space covers three families. First: card-on-file with one-time tokens, like Stripe's Shared Payment Tokens and Visa's Trusted Agent Protocol. Second: network-level agent-pay programmes, like Mastercard Agent Pay and Visa Agentic Ready. Third: stablecoin or wallet rails purpose-built for agent-initiated settlement. Each scheme defines how the agent proves authority to spend, how the merchant verifies the agent, and how disputes are routed when the human in the loop did not click 'pay'.

Three card networks now run distinct agent-pay programmes alongside an emerging set of token and wallet specifications. Mastercard launched Agent Pay in April 2025 with Agentic Tokens; the developer programme expanded in September 2025 to include Stripe, Google, and Antom. Visa published the Trusted Agent Protocol in October 2025 with Cloudflare and grew its Agentic Ready testing programme to 85-plus issuer partners in Asia Pacific and Latin America by April 2026. Stripe shipped its Agentic Commerce Suite in December 2025, introducing Shared Payment Tokens and one-time card generation for agent flows. In Q1 2026 earnings, Mastercard disclosed that Agent Pay is enabled across nearly all of its cards globally. None of the three networks has published a joint interoperability specification; each programme defines its own token format, dispute path, and merchant-attestation flow. This hub tracks every public deployment, partnership, and technical-spec change across the three networks plus stablecoin and bank-to-bank rails moving into agentic flows. Across all three programmes, the merchant-facing surface is the same — an agentic checkout endpoint that accepts a token, a delegated authorisation, and a dispute path.