Agentic commerce and payments: Exploring the implications of robots paying robots

David G. W. Birch and Debbie Gamble
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David G. W. Birch: Principal, 15Mb Ltd, UK
Debbie Gamble: Interac, Canada

Journal of Payments Strategy & Systems, 2025, vol. 19, issue 1, 72-84

Abstract: A new frontier for payments is emerging where the ‘traditional’ world of machine-to-machine and automated payments intersects with the rapidly evolving world of artificial intelligence (AI). As the bots evolve from simple chatbots to intelligent agents, known as Agentic AI, they will evolve from machines (in the most general sense) under our control into robots capable of making their own decisions and, by implication, their own payments. This is where we see an emerging demand for robot-to-robot (R2R) payments and the commensurate need for a strategic response from the payments sector to meet this need. While early experiments in machine payments have used existing mechanisms (eg blockchain and payment cards) it is not clear that these mechanisms can satisfy the needs of the emerging sector. This paper extends a taxonomy of payment types to include AI and looks at the specific needs of the R2R subsector. It presents some of the opportunities for FinTechs to create new products and services to complement the offerings of the ‘traditional’ players at the intersection of AI, machine payments and financial services. It concludes that the smart wallet (ie a digital wallet that can be operated by a robot) will be the central orchestration mechanism. We see the potential for a new payments infrastructure emerging to both re-energise past propositions (eg micropayments) and create entirely new ones (supply-chain currencies). New transactions and new trade mean new prosperity. With the right governance in place, the payments industry can explore this entirely new frontier to the great benefit of the economy as a whole.

Keywords: payments; AI; bots; agents; M2M; R2R; smart wallets; open finance (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2025
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