Agentic payments could reshape online commerce, but AI-driven transactions raise new legal, regulatory, and authentication challenges for providers.
It looks like the future of payments will be powered by AI. In a couple of podcasts, we explain what sets agentic payments apart and explore potential legal issues for providers of AI agents.
Reshaping online shopping: Agentic payments are transactions initiated and managed by an AI agent. Automating payments raises questions about contract formation and agency, as well as who is responsible when things go wrong. Regulators will use their existing rules and supervisory tools to oversee AI-driven payment services.
Responding to regulation: Providers of AI agents need to be mindful of the regulatory perimeter when they structure their products. Payment service providers must find a way to comply with rules on, e.g. consent and customer authentication. Wider legal considerations also include data privacy and agency law.
Read our updated global guide for more on the risks and opportunities of AI in financial services: AI in Financial Services 4.0
