The industry consortium and payments players are considering standards for agentic commerce, particularly for verifying identity.
To usher in the era of agentic commerce, payments players, tech companies and other participants have to agree on safeguards. That is no easy task.
Accomplishing that is a significant part of FIDO Alliance CEO Andrew Shikiar’s job. With members ranging from Visa and PayPal Holdings to Apple and Meta Platforms, not to mention JPMorgan and Wells Fargo, the alliance would seem to have collected the right voices for creating collaboration.
The FIDO Alliance brings together those members and others regularly to seek standards for identity technologies that help verify people are who they say they are for the purposes of commerce, and other forms of interaction in the electronic world.
Still, Shikiar doesn’t see agentic commerce happening at scale for years. The linchpin will be establishing trust for merchants and consumers that agentic transactions will happen in the ways they’re expected to, without significant fraud incursions.
After attending the Global Digital Collaboration Conference in Geneva this month, he discussed how industry collaboration is coming along and progress toward allowing artificial intelligence bots to make purchases.
PAYMENTS DIVE: How does FIDO Alliance see its role in the fight against fraud, especially in the age of artificial intelligence?
ANDREW SHIKIAR: FIDO Alliance is an industry body focused on better user authentication, stronger user authentication, which addresses a lot of the threats that we see out in the market today. In the age of AI, you see a lot of attacks on people's credentials.
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