๐๐ถ๐ต ๐ต๐ฉ๐ฆ ๐ถ๐ด๐ฆ๐ณ ๐ง๐ช๐ณ๐ด๐ต โ ๐ฃ๐ฆ๐ค๐ข๐ถ๐ด๐ฆ ๐ณ๐ฆ๐จ๐ถ๐ญ๐ข๐ต๐ฐ๐ณ๐ด ๐ธ๐ช๐ญ๐ญ, ๐ต๐ฐ๐ฐ!
Happy to share my deck from last weekโs Mobey Forum in Munich. Together with Christophe Zehnacker (Mastercard), we discussed what it takes for Agentic Commerce to scale responsibly.
๐๐ฒ๐ ๐ฟ๐ฒ๐ด๐๐น๐ฎ๐๐ผ๐ฟ๐ ๐๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐๐ (views are my own):
๐๐๐๐ต๐ฒ๐ป๐๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป
โข ๐๐ข๐ณ๐ฅ๐ฉ๐ฐ๐ญ๐ฅ๐ฆ๐ณ ๐๐ฏ๐ช๐ต๐ช๐ข๐ต๐ฆ๐ฅ ๐๐ณ๐ข๐ฏ๐ด๐ข๐ค๐ต๐ช๐ฐ๐ฏ๐ด are SCA-compliant by design (cardholder is in-session and always authenticates each transaction).
โข ๐๐จ๐ฆ๐ฏ๐ต ๐๐ฏ๐ช๐ต๐ช๐ข๐ต๐ฆ๐ฅ ๐๐ณ๐ข๐ฏ๐ด๐ข๐ค๐ต๐ช๐ฐ๐ฏ๐ด require further regulatory alignment, e.g., by analogy with Merchant Initiated Transactions (cardholder not in-session and the Agent’s mandate is always SCA-authenticated).
๐๐ถ๐ฎ๐ฏ๐ถ๐น๐ถ๐๐ (๐ณ๐ฟ๐ฎ๐๐ฑ)
โข The cardholder should generally be refunded by the issuer.
โข If the Agent facilitated fraud, the Agent may need to refund the issuer.
๐๐ผ๐ป๐๐๐บ๐ฒ๐ฟ ๐ฝ๐ฟ๐ผ๐๐ฒ๐ฐ๐๐ถ๐ผ๐ป (๐๐ด๐ฒ๐ป๐ ๐บ๐ถ๐๐๐ฎ๐ธ๐ฒ๐)
โข Consumers should be refunded for Agent mistakes (e.g., mandate breaches / hallucinations) through practical redress mechanisms.
โข Consumers typically have a 14-day โno-questions-askedโ right of withdrawal (refund from the merchant) โ but questions remain as to how liability is allocated between the merchant and the Agent for Agent mistakes.
๐ง๐ฟ๐ฎ๐ป๐๐ฝ๐ฎ๐ฟ๐ฒ๐ป๐ฐ๐
โข Agents should clearly disclose sponsored results / incentives from merchants.
๐ข๐ฝ๐ฒ๐ป ๐พ๐๐ฒ๐๐๐ถ๐ผ๐ป๐:
1. ๐ฅ๐ฒ๐ฑ๐ฟ๐ฒ๐๐. How to โoperationalizeโ consumer rights against the Agent for hallucinations (e.g., extension of the chargeback mechanism)?
2. ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฐ๐ผ๐ป๐ฐ๐ฒ๐ป๐๐ฟ๐ฎ๐๐ถ๐ผ๐ป. Will Agents prefer to contract with a few selected large merchants?
3. ๐ฅ๐ผ๐น๐ฒ ๐ฎ๐น๐น๐ผ๐ฐ๐ฎ๐๐ถ๐ผ๐ป. Who will be โintelligentโ here, the Agent or the merchant? Will the Agent really know the cardholderโs preferences, or will it defer this to the merchant?
4. ๐ฆ๐๐ฒ๐ฒ๐ฟ๐ถ๐ป๐ด. Will the Agent make its decisions based on the cardholderโs preferences, or based on referral fees from merchants?
5. ๐๐ฐ๐ฐ๐ฒ๐๐ ๐ฎ๐ป๐ฑ ๐ถ๐ป๐ฐ๐ฒ๐ป๐๐ถ๐๐ฒ๐ ๐ณ๐ผ๐ฟ ๐ฆ๐ ๐๐. Which legal and policy levers to encourage Agents to contract with small and medium-sized merchants?
Special thanks to Elina Mattila and Giesecke+Devrient for organizing and hosting such a great discussion โ and to all participants for the thoughtful questions.
Deck attached โ Iโd love to hear your thoughts!
Andrea De Matteis
AgenticCommerce ย Payments EURegulation
๐ง๐ต๐ฒ ๐๐ด๐ฒ๐ป๐๐ถ๐ฐ ๐๐ผ๐บ๐บ๐ฒ๐ฟ๐ฐ๐ฒ ๐ข๐ฝ๐ฝ๐ผ๐ฟ๐๐๐ป๐ถ๐๐ ๐ฎ๐ป๐ฑ ๐ถ๐๐ ๐ฅ๐ฒ๐ด๐๐น๐ฎ๐๐ผ๐ฟ๐ ๐๐ผ๐บ๐ฝ๐น๐ถ๐ฎ๐ป๐ฐ๐ฒ