Trust layer for agent payments plus AI-powered services: Mastercard registers and tokenizes AI agents (Agent Pay), proves what a user authorized (Verifiable Intent), and sells AI fraud, cyber and advisory services built on its network data.
How is Mastercard using AI?
Mastercard's flagship AI product is Mastercard Agent Pay, launched in April 2025 so registered AI agents can pay with tokenized Mastercard credentials; it added Verifiable Intent with Google in March 2026 and Agent Pay for Machines in June 2026. Its fraud engine, Decision Intelligence Pro, uses generative AI, and Mastercard says it improves fraud detection by 20% on average. Mastercard says one in three of its services is AI-powered, and it paid $2.7 billion for Recorded Future in 2024.
Category
Card network
Founded
1966
Headquarters
Purchase, New York, United States
Licence and supervision
Not a bank: a card network. Designated a systemically important payment system (SIPS) in the EU; in the UK the Bank of England designates Mastercard a recognized payment system and its Vocalink real-time payments platform a specified service provider, with supervision and examination requirements.
Scale
175 billion transactions processed on Mastercard's network in 2025
Flagship platform
Mastercard Agent Pay
AI leadership
Michael Miebach · Greg Ulrich · Jorn Lambert · Kaushik Gopal · Johan Gerber · Kelly Devine
- Mastercard Agent Pay launched on 29 April 2025 with Agentic Tokens and a requirement that AI agents be registered and verified; by 30 September 2025 it could be used through OpenAI's Instant Checkout in ChatGPT, with Citi and U.S. Bank cardholders already enabled.
- Verifiable Intent, co-developed with Google and published as an open specification on 5 March 2026, creates a tamper-resistant record of what a user authorized when an agent pays; Mastercard says it will be built into Agent Pay's intent APIs.
- By June 2026 all Mastercard issuers in Europe were enabled at network level for Agent Pay; Santander ran Europe's first live end-to-end agent payment with Mastercard in March 2026, described as a controlled pilot rather than a commercial rollout.
- Decision Intelligence Pro, announced in February 2024, applies generative AI to one trillion data points; Mastercard said initial modelling showed fraud detection up 20% on average and as high as 300%, with false positives cut by more than 85%.
- Mastercard paid $2.7 billion in cash for threat-intelligence firm Recorded Future in December 2024 and in 2025 launched Mastercard Threat Intelligence, combining Recorded Future with network data to detect payment fraud.
- Mastercard is training a large tabular foundation model on billions of anonymized transactions with Nvidia and Databricks, aimed first at cybersecurity and at reducing the thousands of separate AI models it maintains.
- In January 2026 Mastercard said a corporate restructuring would affect about 4% of its global staff, and it recorded a $202 million restructuring charge aimed at reinvestment in growth; it did not attribute the cuts to AI. At the same results it said it had enabled U.S.-based issuers for agentic commerce.
What is Mastercard Agent Pay?
Mastercard Agent Pay, launched on 29 April 2025, requires AI agents to be registered and verified and lets them pay with Mastercard Agentic Tokens under limits the consumer sets, with every transaction tied to a specific authorized agent. Verifiable Intent, co-developed with Google and open-sourced in March 2026, adds a tamper-resistant record of what the user authorized; Agent Pay for Machines (June 2026) extends the model to high-frequency, low-value machine-to-machine payments across cards, accounts and stablecoins.[4][5][9][15]
What has Mastercard done on AI, and when?
- Jul 30, 2026
Q2 results cite agentic payments[17]
Mastercard reports Q2 2026 net revenue of $9.3 billion, up 14%; CEO Michael Miebach points to its 'market-first Agentic Payment capability'.
- Jun 10, 2026
Agent Pay for Machines launched[15]
A service for permissioned, orchestrated and settled machine-to-machine payments, some fractions of a cent, across cards, accounts and stablecoins, with more than 30 initial participants including Adyen, Coinbase, Stripe and Cloudflare.
- Jun 2, 2026
All European issuers enabled for Agent Pay[14]
Mastercard says all its issuers in Europe are enabled at network level for Agent Pay and that banks across Europe have completed controlled, live agentic transactions using passkeys.
- Mar 17, 2026
Large tabular foundation model disclosed[11]
Mastercard describes a generative foundation model trained on billions of anonymized transactions with Nvidia and Databricks; early tests beat standard machine-learning techniques on rare legitimate purchases, and cybersecurity is the first target.
- Mar 10, 2026
Virtual C-Suite for small businesses[10]
An extension of Agent Suite that gives small businesses AI agents acting as digital executives, starting with a Virtual CFO, drawing on insights from the 175 billion transactions Mastercard processed in 2025.
- Mar 5, 2026
Verifiable Intent open-sourced with Google[9]
Mastercard introduces Verifiable Intent, co-developed with Google and aligned with Google's AP2 and UCP protocols, as an open specification and reference implementation on GitHub, providing cryptographic proof of what a user authorized an agent to buy.
- Mar 2, 2026
Europe's first live end-to-end agent payment with Santander[8]
Banco Santander completes a payment executed by an AI agent through its live payments infrastructure using Mastercard Agent Pay, in a controlled environment; the companies say it does not constitute a commercial rollout.
- Jan 29, 2026
About 4% of staff affected by restructuring[7][17]
Alongside Q4 2025 results, Mastercard says a corporate restructuring will affect about 4% of its global staff, and that it has enabled U.S.-based issuers to support agentic commerce; the Q2 2026 results record a $202 million restructuring charge intended to enable reinvestment.
- Jan 27, 2026
Mastercard Agent Suite announced[6]
A set of services to build, test and deploy customizable AI agents for banks and merchants, backed by 4,000 global advisors, slated for availability in the second quarter of 2026.
- Sep 30, 2025
Agent Pay usable in ChatGPT Instant Checkout[5]
With OpenAI's Agentic Commerce Protocol, Agent Pay and Agentic Tokens can be used on OpenAI's platform; Citi and U.S. Bank cardholders are enabled, with all U.S. Mastercard cardholders due by mid-November 2025.
- Apr 29, 2025
Mastercard Agent Pay launches[4]
Mastercard launches its Agentic Payments Program with Agentic Tokens, registration and verification of AI agents, and a collaboration with Microsoft (Azure OpenAI Service, Copilot Studio); IBM, Braintree and Checkout.com are named partners.
- Dec 20, 2024
- Apr 9, 2024
Data and AI organisation created[2]
A company realignment creates a Data and AI organisation led by Greg Ulrich as chief AI and data officer, covering commercialisation of internal and external AI applications and enterprise-wide governance.
- Feb 1, 2024
Decision Intelligence Pro announced[1]
Mastercard applies generative AI to its Decision Intelligence fraud-scoring service, which already scores 143 billion transactions a year; DI Pro scans one trillion data points and returns a score in under 50 milliseconds. Mastercard says initial modelling shows fraud detection up 20% on average.
Where does Mastercard use AI today?
| System | What it does | Status | Use case |
|---|---|---|---|
| Mastercard Agent Pay[4][5][14][13] | Agentic Tokens and agent registration let verified AI agents pay within consumer-set limits; enabled for all European issuers and used in controlled live transactions, with B2B agentic transactions live in Asia Pacific markets. | Rolling out | Generative & agentic AI |
| Agent Pay for Machines[15] | Credentialing, programmatic spending limits and guaranteed multi-rail settlement for high-frequency, low-value payments between agents and services. | Announced | Generative & agentic AI |
| Decision Intelligence Pro[1] | Generative-AI enhancement to real-time transaction fraud scoring that assesses relationships between entities around a payment; Mastercard reports a 20% average improvement in fraud detection from initial modelling. | Announced | Fraud detection |
| Recorded Future and Mastercard Threat Intelligence[3][16] | AI-driven threat intelligence from Recorded Future, combined with Mastercard's network visibility in a threat-intelligence service launched in 2025 to detect cyberattacks that lead to payment fraud. | In production | Cybersecurity |
| Large tabular foundation model[11] | Transaction foundation model trained on billions of anonymized transactions with Nvidia and Databricks; being tested for hybrid cybersecurity and fraud systems and to reduce the thousands of separate models Mastercard maintains. | Pilot | Fraud detection |
| Agent Suite and Virtual C-Suite[6][10] | Customizable AI agents for banks (product discovery) and merchants (conversational shopping), plus AI 'digital executives' for small businesses; announced January and March 2026. | Announced | Generative & agentic AI |
| Internal AI tools[12] | Coding copilots for software developers, AI assistants for consultants to find documents, and a gen-AI tool helping customer-support teams answer onboarding and implementation questions, per Greg Ulrich. | In production | AI-generated code & coding agents |
| Enterprise AI governance[2][12][16] | A Data and AI organisation under the chief AI and data officer governs AI across the enterprise; Mastercard applies its Data and Tech Responsibility Principles and says models must be explainable, governed and continuously monitored. | In production | AI governance (general) |
Use-case links open the tracker's rules-by-use-case matrix: which documents govern each system type.
What has Mastercard disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Transactions processed on the Mastercard network in 2025 | 175 billion[10] | Dec 31, 2025 |
| Transactions scored by Decision Intelligence each year | 143 billion[1] | Feb 1, 2024 |
| Fraud detection improvement from DI Pro (initial modelling) | 20% on average; as high as 300%[1] | Feb 1, 2024 |
| Reduction in false positives (Mastercard analysis) | More than 85%[1] | Feb 1, 2024 |
| Recorded Future cash consideration | $2.7 billion[16] | Dec 20, 2024 |
| Share of Mastercard services powered by AI | One in three[13] | May 26, 2026 |
| Restructuring charge, 2026 (about 4% of staff) | $202 million[17] | Jun 30, 2026 |
| Q2 2026 net revenue | $9.3 billion (+14%)[17] | Jun 30, 2026 |
“With generative AI we are transforming the speed and accuracy of our anti-fraud solutions, deflecting the efforts of criminals, and protecting banks and their customers.”[1]
Ajay Bhalla · then President, Cyber and Intelligence, Mastercard · Feb 1, 2024
“Agentic payments represent a profound shift in how commerce is initiated and executed.”[8]
Kelly Devine · President, Europe, Mastercard · Mar 2, 2026
“AI at scale is less about breakthroughs than about consistently high operational standards.”[12]
Greg Ulrich · Chief AI and Data Officer, Mastercard · Mar 30, 2026
“Machine payments can make it possible for services to be bought and sold among agents at fundamentally different scales than payments today — very high volumes, very small values, very fast and at extremely low latency.”[15]
Jorn Lambert · Chief Product Officer, Mastercard · Jun 10, 2026
Who runs AI at Mastercard?
Which regulators govern Mastercard's AI?
| Authority | Why it matters here | Documents |
|---|---|---|
| UK (BoE / PRA / FCA) | The Bank of England designates Mastercard a recognized payment system and its Vocalink real-time payments platform a specified service provider, with supervision and examination requirements; the 2026 UK statement on frontier-AI cyber risk covers such financial market infrastructures. | BoE/FCA/HMT joint statement on frontier AI and cyber resilience (May 2026) FPC Financial Stability in Focus: AI (Apr 2025) |
| EU AI Act | Mastercard's FY2025 10-K says that as a user and deployer of AI it is subject to the EU AI Act, and that how AI in agentic commerce will be regulated remains uncertain; its fraud-scoring and agent-payment AI runs across the EU, where it is also designated a systemically important payment system. | Regulation (EU) 2024/1689 EBA factsheet on the AI Act |
| SEC | Mastercard is an SEC registrant (NYSE: MA) whose 10-K describes its AI products and AI regulatory risk, so the SEC's attention to AI disclosures applies to how it describes Agent Pay, Decision Intelligence and its foundation model. | Investor Advisory Committee AI disclosure recommendation Atkins remarks at Investor Advisory Committee (Sep 2026) |
Linked authorities have a page in the AI Regulation Tracker; the others are named for completeness and not yet tracked.
What does the public record suggest about Mastercard's AI strategy?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice.
01
Mastercard is standardising proof of consent, not building a shopping agent
Agent Pay, Agentic Tokens, Verifiable Intent and Agent Pay for Machines all address who authorized an agent and within what limits. Mastercard supplies credentials and audit trails to other companies' agents — OpenAI's checkout, Microsoft's Copilot tools, banks' pilots — rather than a consumer assistant of its own.
02
Enablement is ahead of usage on the public record
Mastercard says U.S.-based issuers and all European issuers are enabled for agentic commerce, but the disclosed transactions are controlled pilots (Santander called its payment 'not a commercial rollout'), and Mastercard has not published agentic payment volumes.
03
The fraud-model figures are dated and self-reported
The headline Decision Intelligence Pro gains (20% average, up to 300%, false positives down more than 85%) come from Mastercard's own initial modelling in February 2024; newer disclosures describe the foundation model's early tests qualitatively without numbers.
04
Security intelligence is being bought in
Recorded Future ($2.7 billion) brought threat intelligence that the 10-K says also exposes Mastercard to new cybercrime-law and geopolitical risks, including the current or future listing of Recorded Future as an 'undesirable' or 'unreliable' entity by certain jurisdictions.
05
Job cuts were framed as reinvestment, not automation
Unlike Visa, which linked its July 2026 cuts partly to AI, Mastercard's January 2026 restructuring affecting about 4% of staff was framed as enabling reinvestment in long-term growth, with no AI attribution in its filings or the reported remarks.
What is Mastercard Agent Pay?
Mastercard Agent Pay is Mastercard's program for AI agents that shop and pay for people, launched on 29 April 2025. Agents must be registered and verified, and they pay with Agentic Tokens under limits the cardholder sets, so each transaction is tied to a specific authorized agent. By June 2026 all Mastercard issuers in Europe were enabled for it, and Mastercard added Verifiable Intent and Agent Pay for Machines in 2026.
Does Mastercard work with OpenAI or Google?
Both. On 30 September 2025 Mastercard said Agent Pay and Agentic Tokens could be used through OpenAI's Instant Checkout in ChatGPT via the Agentic Commerce Protocol. In March 2026 it introduced Verifiable Intent, co-developed with Google and aligned with Google's AP2 and UCP protocols. Agent Pay also launched with a Microsoft collaboration covering Azure OpenAI Service and Copilot Studio.
How does Mastercard use AI to fight fraud?
Mastercard's Decision Intelligence scores 143 billion transactions a year, and Decision Intelligence Pro adds generative AI that analyses one trillion data points; Mastercard said initial modelling showed fraud detection up 20% on average and false positives down more than 85%. It also bought Recorded Future for $2.7 billion and is testing a transaction foundation model built with Nvidia and Databricks.
Who leads AI at Mastercard?
Greg Ulrich is Mastercard's chief AI and data officer, leading a Data and AI organisation created in April 2024 that covers commercial AI applications and enterprise-wide governance. Chief product officer Jorn Lambert fronts Agent Pay and Agent Pay for Machines, and CEO Michael Miebach cited Mastercard's 'market-first Agentic Payment capability' in its Q2 2026 results.
Did Mastercard cut jobs because of AI?
Mastercard has not said so. With its Q4 2025 results in January 2026 it said a corporate restructuring would affect about 4% of its global staff, and its Q2 2026 results record a $202 million restructuring charge whose savings are intended to enable reinvestment in long-term growth. Neither the company nor the reported remarks attributed the cuts to AI, unlike Visa's July 2026 cuts.
Who regulates Mastercard?
Mastercard is not a bank. In the EU it is designated a systemically important payment system, and in the UK the Bank of England designates it a recognized payment system and its Vocalink platform a specified service provider. Its FY2025 10-K says it is subject to the EU AI Act as a user and deployer of AI. As a listed company it reports to the SEC.
- Mastercard supercharges consumer protection with gen AI
- Positioning Mastercard for the next era of growth
- Mastercard finalizes acquisition of Recorded Future
- Mastercard unveils Agent Pay, pioneering agentic payments technology to power commerce in the age of AI
- Making agentic AI commerce a reality with embedded, trusted payments
- Mastercard launches Agent Suite to ready enterprises for a new era
- Mastercard's CEO wades into affordability debate
- Santander and Mastercard complete Europe's first live end-to-end payment executed by an AI agent
- When AI starts buying for you, trust becomes the product
- Mastercard advances its agentic AI strategy with Virtual C-Suite, bringing executive level intelligence to small businesses
- Meet Mastercard's new generative AI model
- AI is easy to celebrate. It's much harder to run
- Ushering in the intelligence layer
- Europe is Building the Foundations for Trusted Agentic Commerce
- Mastercard launches Agent Pay for Machines to unlock super-fast, always-on payments
- Mastercard Incorporated Form 10-K for the fiscal year ended December 31, 2025
- Mastercard Incorporated Second-Quarter 2026 Financial Results (Form 8-K, Exhibit 99.1)
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