Big credit card companies that power the payments world see a time coming soon where AI bots do your shopping-even without checking with you before making purchases.

Mastercard rolled out an artificial-intelligence payment option Thursday for everyday purchases, through a partnership with the startup Alchemy, the companies said. The so-called agentic system would allow a virtual credit card to be issued to a person's AI bot with set restrictions, such as a cap on how much it can spend and on what type of products. The bot can then buy things on its own, without consulting the credit card holder or first seeking permission.

Agentic commerce is a hot topic in finance, where executives are preparing for a new era of shopping bots that drive purchases. In theory, a bot could find good prices and products and have them delivered to their cardholder's front door. But it is a complex system that raises a host of questions about customer protections and fraud risks that merchants and payment processors have built over the years, industry executives say.

That isn't stopping companies from getting ready.

"We believe it's not about if, it's about when and how quickly," Mastercard's chief product officer, Jorn Lambert, said. "Nothing happens overnight."

How it works

Under Mastercard's deal, users can sign onto Alchemy, using an AI agent they have already created, and add their card information. Users can set certain restrictions on what their agent is allowed to do with the card, such as spending limits or only allowing purchases at certain retailers. Then, the AI agent-like Meta's recently announced Muse-can pay anywhere a Mastercard is accepted online.

Cardholders can also authorize transactions based on preset parameters, or ask their AI bot to check back in with them before making the purchase.

Visa partnered with Alchemy earlier this year, which means a majority of credit cards can now work with the tool. Visa, Mastercard and American Express have each announced their own tools and standards for AI platforms, merchants and others to support AI purchases.

It's still unclear what the broader appetite for agentic payments will be.

For now, executives see trust as the biggest barrier to a full embrace of AI shopping. Many users fear giving their credit card information to an AI bot, for instance, and don't want to risk a rogue agent going on shopping sprees without their permission.

The concept of agentic payments "is a really good one but it is certainly not without its risks," Brendan Coughlin, president of Citizens Financial Group, said.

Proponents envision a universe in which shoppers would use an AI bot, or agent, to make purchases online based on a cardholder's preferences and budget, with the ability to look for signals like a drop in price before making a purchase.

Uncertainty remains around how regulators will treat agentic payments. Bank executives like Coughlin remain skeptical that agentic payments will take over anytime soon. Concerns include who could be held liable for unauthorized agentic payments, whether by a confused or rogue agent.

Mastercard said its partnership with Alchemy includes a system of permissions meant to verify that AI bots represent a cardholder's intent or interests. Banks issuing cards have to support what's called "agentic tokens" that contain a user's intent and the data for the purchase, Mastercard said.