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Mastercard Forms OpenAI and Tencent Partnerships to Drive Agentic Commerce

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Mastercard Forms OpenAI and Tencent Partnerships to Drive Agentic Commerce

Lost in the recent earnings announcement from Mastercard was a broad strategic partnership with OpenAI that Mastercard CEO Michael Miebach said includes the use of his company’s Agent Pay and “goes well beyond.”

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“Our agreement establishes collaboration across payments, joint services growth and AI transformation,” Miebach said during the Thursday (Oct. 29) earnings call.

Mastercard Agent Pay is the company’s infrastructure for enabling payments in agentic commerce, according to a page on its website.

PYMNTS reported Thursday that Miebach said during the call that Mastercard wants AI shopping agents to use tokenized versions of consumers’ chosen cards. He added that Mastercard Agent Pay, which incorporates tokenization, is being used by Shopify’s Shop Pay and is included in the new OpenAI agreement.

Asked by an analyst how Mastercard can drive adoption for Agent Pay, together with its partnerships with OpenAI and Shopify, Miebach said during the call that trust in the agent is key.

“One of the things that need to happen before this to really take off is consumers need to feel comfortable,” Miebach said. “Use of Agent Pay and having a registered agent is a key thing. The other thing is merchants need to be actually discoverable because then the other side of the transaction really isn’t working. That’s a piece that is slightly behind the first one.”

Mastercard announced another partnership Monday (Nov. 2), saying in a press release that the company and Tencent ’s cross-border payment platform, TenPay Global , will explore new opportunities in agentic payments as well as greater cross-border payment interoperability.


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