Global payments company Mastercard is preparing for the next phase of how consumers will shop and pay as it leverages the emerging use of agentic artificial intelligence (AI) technology that could enable AI-powered assistants to make purchases on behalf of customers.

According to Mastercard’s Caribbean Country Manager Dalton Fowles, the company is already laying the groundwork for what could become the next evolution in digital commerce, developing the rules and security frameworks needed to support transactions initiated by autonomous AI agents.

We have always used AI, particularly from a network perspective in addressing fraud, so it’s already embedded in the way we work. But as the technology continues to evolve, consumers will hear much more about agentic AI. It’s coming, and it’s coming very fast,” Fowles said during a recent media roundtable held as part of Mastercard Day activities in Jamaica.

Mastercard’s push into agentic commerce comes amid growing acceptance of digital payments in Jamaica, where consumers remain highly familiar with traditional payment methods such as debit and credit cards while increasingly embracing newer digital solutions.

Agentic AI would enable consumers to use AI assistants not only to research products and services but also to complete purchases once authorised by the user. These digital agents could eventually shop, manage subscriptions and perform a range of everyday financial tasks on consumers’ behalf.

Mastercard’s backing of agentic commerce comes as research points to increasing consumer acceptance of digital payments across Jamaica. The data shows that while consumers remain highly familiar with traditional payment products such as debit and credit cards, newer payment technologies continue to gain traction as confidence in digital transactions grows.

With agentic assistance the technology would enable consumers to use AI assistants not only to research products and services but also to complete purchases once authorised by the user. The AI-powered agents acting on behalf of consumers will be empowered to shop, manage subscriptions and complete everyday tasks.

“A cardholder could be on his AI tool and start to research, for example, and then instruct the agent to purchase something on their behalf,” Fowles explained. “That is coming down the pipeline extremely rapidly.”

While the concept may still appear futuristic, Fowles said agentic AI payment capabilities have already been deployed in some international markets.

Mastercard earlier this year executed its first authenticated agentic transactions in Australia through its Agent Pay solution. Early assessment already suggests that AI-powered commerce could influence as much as 55 per cent of Australian consumer transactions by 2030, representing up to A$670 billion in annual spending.

By enabling fully recognised and authenticated agentic transactions, Mastercard said it remains commited to ensuring that its trusted agentic framework process will bring AI agents into the payment flow as visible, governed participants that will ensure that every transaction is secure, transparent and trusted.

To prepare for wider adoption, Mastercard is now collaborating with partners around the world to establish secure standards for AI-driven transactions, while maintaining strong consumer protections.

The move builds on Mastercard’s long-standing use of AI across its network. The technology already plays a significant role in fraud prevention, helping to monitor transaction patterns, identifying unusual spending behaviour and flaging potentially fraudulent activity in real time.

Beyond AI, Mastercard also continues to strengthen partnerships across the fintech ecosystem as digital payment methods evolve.

As contactless payment adoption in Jamaica climbs to 56 per cent, Mastercard executives recently gathered at the AC Hotel in Kingston to discuss how innovation and wider digital acceptance can support a more connected and inclusive economy.

Fowles said that while there was growing acceptance of digital products in the local market, significant opportunities remain to expand digital payment acceptance across small and micro businesses, tourism and transit, helping more of these players to participate fully in the digital economy.

Findings from Mastercard’s latest ‘State of Digitalisation and Financial Inclusion in Jamaica’ study showed that despite a strong foundation for digital payments, merchant acceptance remains a major barrier. The research found that 92 per cent of consumers would like to see more businesses accept digital payments.

In light of the findings Mastercard through a growing range of solutions spanning contactless, tap on Phone and click to pay, combined with targeted merchant and consumer education initiatives, said it is continues to actively work with financial institutions, merchants and government stakeholders to build the seamless digital ecosystem Jamaicans need and want.

“What’s needed now is coordinated action — building the merchant networks where Jamaicans shop daily while ensuring consumers and businesses have the knowledge and confidence to use digital payment options reliably,” Fowles said.

“As Jamaica advances towards a more digital economy, the future of financial inclusion will depend on how easily people can pay for the things that matter most in their daily lives, wherever they are.”