Mastercard and Google Unveil Verifiable Intent Framework for AI Commerce
Mastercard and Google have introduced the Verifiable Intent framework, an open standard designed to facilitate "agent commerce" where AI agents autonomously conduct transactions. This framework employs cryptographic methods to create secure authorization records, ensuring that AI-initiated transactions are verifiable and privacy-preserving. It integrates identity, intent, and actions into a single audit trail, addressing verification challenges for merchants and card issuers.
The Verifiable Intent framework utilizes selective disclosure technology, allowing parties to access only necessary information, and aligns with industry standards from the FIDO Alliance and EMVCo. Mastercard plans to incorporate this framework into its Agent Pay API soon. In the cryptocurrency space, Coinbase CEO Brian Armstrong highlighted that while AI agents cannot open bank accounts, they can manage cryptocurrency wallets, indicating blockchain's potential role in the AI agent economy.
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