AI agents get virtual credit cards

Mastercard has entered the emerging field of agentic commerce by partnering with the startup Alchemy to enable AI agents to conduct financial transactions. This initiative allows users to issue virtual credit cards to autonomous bots, which can then perform tasks like shopping or paying for digital services within strict spending limits. While major competitors like Visa and American Express are pursuing similar technology, the shift toward machine-to-machine payments raises significant concerns regarding security, fraud, and accountability. To mitigate these risks, the system uses transaction tokens and network-enforced rules to ensure bots do not exceed their authorized purchasing power. Experts suggest that while the technology simplifies complex digital workflows, it fundamentally transforms the traditional customer journey and requires a new framework of engineered trust. This move signals a major transition in the financial industry toward a future where autonomous software manages routine economic decisions for humans.