Mastercard pulls off Australia's first AI agent payment as agentic commerce goes live
Mastercard has completed Australia’s first successful AI agent payment, marking the arrival of "Agentic Commerce" on our shores.
Unlike standard AI that just provides information, these autonomous agents can now execute financial transactions securely. This pilot involved a major collaboration between Commonwealth Bank, Westpac, EVT (Event Cinemas), and local tech firm Maincode, using their Matilda LLM.
Mastercard has successfully completed Australia's first authenticated agentic transactions, marking a significant milestone in the local fintech landscape. Using AI agents, Mastercard facilitated real-world purchases of cinema tickets and holiday accommodation, showcasing the potential of AI in transforming online shopping. The transactions were processed through existing financial infrastructure, ensuring visibility and security for all parties involved. This development highlights the growing role of AI in consumer spending, with estimates suggesting it could influence 55% of Australian consumer spending by 2030.
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