At the Consensus Miami conference, leaders from Google Cloud and PayPal emphasized the role of cryptocurrency in the future of internet commerce, driven by AI agents. Richard Widmann of Google Cloud highlighted the limitations of traditional financial systems for autonomous agents, advocating for crypto as a machine-readable payment interface. Google has introduced the Agentic Payments Protocol (AP2), supported by over 120 partners including PayPal, to facilitate this transition.
May Zabaneh from PayPal discussed the company's focus on AI agents as a new commerce channel, leveraging their stablecoin PYUSD for programmable payments. She noted that while 95% of merchants encounter AI agent traffic, only 20% have adapted their catalogs for machine readability. Both Widmann and Zabaneh addressed the challenges of liability and trust in agentic commerce, with Google enhancing its Cloud KMS platform for cryptocurrency custody to ensure secure transactions.
PayPal and Google Advocate for Crypto in Agentic Commerce at Consensus Miami
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