Overview
- Mastercard and San Francisco startup Alchemy announced a live rollout this week that issues one‑time virtual Mastercard credentials to AI agents through Alchemy’s AgentCard platform.
- The system uses Mastercard Agent Pay, Verifiable Intent, and bank‑generated "agentic tokens" so a cardholder’s approved instructions, merchant limits, and spending caps are bundled with each transaction.
- Because Alchemy already integrated AgentCard with Visa in June, the new Mastercard link means AI agents can now transact on a large share of major card networks at online merchants that accept those cards.
- Cardholders can set retailer allowlists, per‑purchase or total spending limits, and opt into agent check‑ins before purchases, but banks and industry leaders warn fraud controls, liability rules, and consumer trust are still unresolved.
- The rollout builds on Mastercard’s Agent Pay program from April 2025 and follows a recent push for a shared "Know Your Agent" standard by industry players, while competitors including PayPal, Stripe, and American Express develop rival agentic payment tools.