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One criticism of computer usage platforms and other search agents is that they cannot complete transactions within the same window even when they use them to find products or hotels.
Mastercard We aim to change that by integrating AI companies and platforms into the Payments network, allowing users and businesses to trade seamlessly within their ecosystems. The company announced today Agent Paymenta new payment program that brings the MasterCard Payments System to the AI chat platform.
Greg Ulrich, the AI executive at MasterCard, chief data and MasterCard, told VentureBeat in an interview that the agent would pay for “close the loop” in the agent search.
“We want to close the loop within the experience to enable the customer experience in the most effective way possible. “We need to ensure that everyone in our ecosystem can identify agents, authenticate agents, and handle transactions safely and securely.”
Openai, humanitarian, confusion can join MasterCard’s Payments Network, allowing other network participants (merchants, card users, financial institutions) to trust the platform’s transactions and to confirm potential scams. MasterCard can also bring fraud and transaction dispute systems to those companies.
MasterCard has partnered with Microsoft, IBM, Braintree and Checkout.com to expand agent payments, coordinate systems and enhance other merchants’ capabilities. It also integrates Agent Pay with banks and other financial institutions.
Make agent search more convenient
Over the past year, we’ve seen AI-powered searches evolve from simply listing lists to actively use computers on your behalf. These platforms Allow users to ask AI models to search the internet for information. We can provide recommendations for the products and locations you visit. AI searches have proven popular.
Openai announced it this week Add shopping functionality to ChatGPT searchRuns on the GPT-4o and runs to compete with Google’s longstanding advantage in product search.
However, users have always discovered that when they confirm the transaction, they need to open a separate window.
“We’re working with AI platforms and agents to make it available to access technology. But on the merchant side, we’re now able to recognize these transactions and manage the risks around it more effectively.”
Introducing these platforms into payment systems like MasterCard makes them even more convenient as they serve as a place for people to find information, as well as a platform where users can find and trade.
If AI companies are part of a payment network, they can also improve the agent workflows built by the companies. Imagine an agent workflow that involves searching for new suppliers, finding the right suppliers, helping you with negotiations, drafting contracts, and setting up transactions through the platform.
The company is discussing the integration of Agent Pay into Azure/Openai services with Microsoft co-pilots.
Tokens, not AI
However, even if MasterCard leverages the technology of other products, Agent Pay is not based on the generation AI.
Agent Pay relies on company tokenization technology that utilizes encryption to mask personal identifiable information (PII) during digital transactions.
“This is another number that is useless if it’s not used within the context of a transaction you’ve approved,” says Fourez. “It’s achieved through encryption, and each transaction will uniquely do a transaction, and if someone else gets this information, they can’t do anything with it.”
MasterCard utilizes generated AI and large-scale language models for fraud detection, which Ulrich noted to work in parallel with agent pay tokenization, to validate fraud transactions after the AI model is launched.
Ulrich’s additional agent Pay can trust all businesses and stakeholders involved in the transaction to “work in this ecosystem.”
“We are making sure there is a way to safely and securely identify these players in the ecosystem and securely capture and retain their qualifications,” he said.
