Smart Shopping Agents Still Need Someone to Vouch for Them

Artificial intelligence can already recommend products like running shoes, but the payments industry must develop the infrastructure to enable AI agents to complete purchases. Mike Storiale, senior vice president of AI Technology and Transformation at Synchrony, highlighted that the key to agentic commerce lies in common commerce protocols, financing options, authentication, proof of intent, and a new trust layer for machine-initiated transactions.

Currently, much focus is on payment methods, yet private-label credit, promotional financing, and buy now, pay later options may be more promising. Synchrony is testing this approach through its ChatGPT plugin, which provides financing details within an AI environment. For financial institutions, optimizing the "agentic engine" is crucial, as being discovered by AI platforms is more important than traditional search rankings.

The biggest bottleneck is payment permission, as AI systems need to determine if the transaction aligns with the original intent. Authentication and proof of intent are essential, but the infrastructure must be in place first. Banks, card issuers, and alternative lenders must adapt to this new trust layer, which could include identity verification, fraud controls, and consumer protections.