James Mirfin, Visa's global head of risk and security intelligence solutions, told American Banker that the technologies protecting online shopping can also be applied to payments made by AI agents. He pointed to strong authentication and tokenisation, where a digital token replaces the card number and is limited to a specific use. He stressed that agentic commerce standards should be open and should not compete with one another. Industry advisers note that rules for disputed transactions do not yet clearly cover purchases made by agents.

What it means: The discussion comes in a week when banks are showing strong caution towards outside agents seeking account access. Visa's position is that not everything has to be invented from scratch: a token that only allows a specific merchant, amount or time window already works as a fence around an agent. For Greek merchants and payment providers this is good news, because the infrastructure built for PSD2 and strong customer authentication can be extended rather than replaced. The big open question is liability. If an agent buys five tickets instead of one, who pays: the user, the agent provider or the merchant? The EU Payment Services Regulation, now heading for a vote, is the right moment to settle this. Until then, Greek businesses accepting orders from agents should set a clear refund and dispute policy and log which tool started each order. Software vendors can already offer per-agent spending limits as a feature.

Read the original on American Banker

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