Elavon CEO: Trust, not speed, will rule in agentic commerce

The next wave of shopping is moving toward 'agentic commerce,' where AI bots handle the heavy lifting of buying for consumers. For retailers and operators, this shifts the focus from simply having a fast checkout to ensuring your payment systems are compatible with secure, bank-backed digital wallets. Elavon CEO Wally Mlynarski emphasizes that as AI agents begin to negotiate prices and execute transactions on behalf of users, the underlying payment rails must be bulletproof to prevent fraud and maintain consumer trust. A major part of this transition involves the bank-led mobile wallet, Paze. Unlike third-party fintech apps, Paze is built by the big banks to offer a more secure, streamlined checkout experience that doesn't require consumers to share their full card details with every merchant. Mlynarski suggests that the 'speed' of a transaction is no longer the main selling point; instead, the reliability and safety of the transaction will define who wins in the AI-driven economy. If your business relies on high-volume consumer transactions, you need to prepare for a future where your 'customer' might actually be an AI agent looking for the most secure and frictionless way to pay.

Source: Banking Dive

← Return to the library· Submit a correction