AI Business
Sep 18, 2026
Credit card companies compete to establish AI shopping standards amid consumer skepticism
Sep 18, 2026
AI Summary
Credit card companies are actively developing AI shopping solutions, with Mastercard recently introducing a virtual card for AI agents. Despite these advancements, consumer surveys indicate a significant reluctance to allow AI to make purchases without human oversight, with many preferring AI for deal-finding rather than transaction execution.
- Credit card companies, including Mastercard and Visa, are racing to create AI shopping standards as AI agents begin to handle online purchases for consumers.
- Mastercard launched a payment option allowing AI agents to make purchases using a virtual card, with cardholders able to set spending limits and retailer restrictions.
- Visa has partnered with Alchemy to develop its own AI shopping product, Visa Intelligent Commerce.
- Research shows that only 7% of U.S. and U.K. consumers are comfortable with AI making purchases without prior approval, while over half express discomfort with the idea.
- Consumers prefer AI for price-drop alerts and retailer comparisons rather than for personalized product suggestions.
- Mastercard has introduced a digital record system called Verifiable Intent to track AI shopping authorizations, aiming to address consumer concerns about potential disputes.
- The company has not clarified who would be liable for unauthorized purchases made by AI agents, emphasizing the importance of the Verifiable Intent system.
- Industry experts suggest that consumer acceptance of AI in shopping is a matter of time, as AI technology continues to evolve.
ai shoppingconsumer behaviorpayment technologyartificial intelligencee-commerce