Recently, Bain & Company has published a report exploring the role of agentic artificial intelligence (AI) in consumer commerce.

The report highlights issues such as trust and security, with specific implications for the payments sector. Based on a survey conducted jointly with ROI Rocket, the study involved responses from over 2,000 US consumers and provides insights into their attitudes toward AI-enabled purchases.

According to the findings, although 72% of participants have used AI tools in various forms, only 10% reported completing an AI-mediated purchase. Moreover, just 24% expressed comfort with such transactions, primarily due to concerns about privacy and fraud.

Bain’s analysis indicates that established technology and retail platforms like digital wallets and integrated shopping experiences are more trusted than traditional banks or card issuers when it comes to these types of transactions. This could result in a shift in the control over the consumer payment experience.

Roles for Banks and Payment Providers

The report suggests that banks, payment providers, and infrastructure companies will have key roles in an ecosystem where AI agents can act independently on behalf of consumers. It recommends strategies to enhance trust, such as transparent design, allowing consumers control over authorizations, and gradually rolling out low-risk applications.

As agentic AI tools become more adept at handling end-to-end shopping experiences, the report concludes that all players in the payments value chain must prioritize trust and security to remain relevant in an increasingly automated marketplace.