At Mastercard, U.S. credit volume grew 10%, while debit rose 1% in the third quarter.

Mastercard wants artificial intelligence shopping agents to use tokenized versions of consumers’ chosen cards, preserving the payment preferences, rewards and controls attached to those accounts.

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During Mastercard’s third-quarter earnings call Thursday (Oct. 29), CEO Michael Miebach took note of arrangements that insert a separate, one-time virtual card into an agent’s purchase. Mastercard views those arrangements as temporary accommodations while processors prepare for payments that retain the original card credential through network tokens.

“A VCN is a processor decision that is a bridge to get ready for a fully tokenized transaction all the way through for a period of time,” Miebach said.

Network tokens replace sensitive card details while keeping the purchase connected to the underlying card. Processors need time to adapt.

“We’re cognizant that this ecosystem needs to get there, no question about it, but that’s not a long-term solution that we will support,” Miebach said.

His comments described a continuing role for cards when agents handle checkout. They also hinted at the work that needs to be done. Payment providers must accommodate tokenized transactions, merchants must make their products accessible to agents, and buyers must authorize the software acting for them.

Mastercard Agent Pay incorporates tokenization and verifies that agents are authorized by buyers. Shopify ’s Shop Pay is using Agent Pay and Mastercard network tokens to preserve consumers’ credentials throughout the payment, Miebach said.

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