AI Agent-Led Commerce Poised to Transform Retail and Payments by 2026

Mastercard EVP Sandeep Malhotra predicts intelligent payments will redefine commerce, marking the third evolution from cash to digital to AI-driven transactions. Early adopters like Amazon are already testing "Buy For Me" features while blocking external AI crawlers, signaling a competitive rush to control agentic commerce platforms.

Travel emerges as a proving ground for AI shopping agents, which can now book flights, compare prices, and execute payments autonomously. Visa and Mastercard are piloting secure payment frameworks for bot-led transactions, anticipating widespread adoption through existing platforms like ChatGPT and banking apps.

Retailers face a strategic dilemma: develop proprietary AI agents or risk losing pricing power and customer access. The shift promises to upend traditional price discovery as AI agents scan entire markets instantaneously—a capability that could extend to crypto payments given Visa's recent stablecoin integrations.