EMVCo Requests Feedback on Agentic Payments Framework (www.emvco.com)

EMVCo has released a draft framework aimed at promoting secure and scalable card-based agentic payments, inviting feedback from industry stakeholders until September 30. This framework is significant as it addresses the growing need to establish intent when AI agents are delegated authority to make purchases on behalf of consumers. It emphasizes scenarios such as recurring purchases and collective budgets, proposing the use of a shared 'intent state' to manage consumer intent over time. Central to the framework are the newly introduced "Intent Services," which provide a common platform for payment participants to register and manage consumer-authorized intent throughout transaction lifecycles. This interoperable layer will enhance existing solutions, such as Verifiable Intent, by ensuring a consistent interpretation of consumer intentions across multiple payments scenarios. By laying this groundwork, EMVCo aims to enhance interoperability and trust among consumers, merchants, and issuers in the rapidly evolving agentic commerce landscape. The ongoing development could also influence other EMV technologies, potentially leading to improvements in identity standards and transaction identification methods, reinforcing the importance of this initiative for the future of digital payments.