Mastercard Partners with Alchemy to Enable AI-Powered Shopping and Acquires Stablecoin Firm BVNK
Mastercard (MA) is advancing into the realm of AI-powered shopping by partnering with startup Alchemy, which allows users to create virtual cards for AI agents that can make purchases on their behalf. These bots operate within Mastercard's Agent Pay system and are designed to streamline online shopping through automated buying based on user-defined rules and budgets. The initiative reflects a broader shift in e-commerce where the traditional checkout button may become obsolete as more transactions are handled by autonomous systems. Analysts have raised concerns that AI agents could divert payment traffic away from credit card networks toward cheaper alternatives like stablecoins, potentially impacting Mastercard's revenue margins. To counter this risk and secure its position in the evolving payments landscape, Mastercard acquired BVNK for up to $1.8 billion earlier this year. The move positions Mastercard as a key player in agent-based transactions before they become widespread. With Morgan Stanley estimating AI agents could drive over $385 billion in U.S. e-commerce by 2030, the company is racing against competitors like Visa to establish trust and control within these new payment systems.
Tickers: $MA
Topics: AI e-commerce Mastercard payments stablecoins