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Mastercard launches AI Agent Payment Protocol Agent Pay for AI
According to Fortune magazine, the payments giant Mastercard announced the launch of a new payment protocol called Agent Pay for AI, aiming to make it easier for AI agents to pay each other small amounts, such as pay-per-use fees when accessing website data.
This protocol records, on the blockchain, the operational permissions that humans grant to AI agents to ensure the agents carry out instructions as directed. In its initial rollout, Mastercard chose to store these permission details on the Ethereum-based Polygon network. Other companies involved in developing the protocol include the fintech firm Adyen, the cryptocurrency exchange Coinbase, and the web hosting giant Cloudflare. Notably, over the past year, Coinbase, Stripe, and Google have also introduced their own AI payment standards and protocols, laying the groundwork for future AI payments.