Mastercard announced the launch of its Agentic Payments Program, Mastercard Agent Pay. The groundbreaking solution integrates with agentic AI to revolutionize commerce. Mastercard Agent Pay will deliver smarter, more secure, and more personal payments experiences to consumers, merchants, and issuers. The program introduces Mastercard Agentic Tokens, which build upon proven tokenization capabilities that today power global commerce solutions like mobile contactless payments, secure card-on-file, and Mastercard Payment Passkeys, as well as programmable payments like recurring expenses and subscriptions. This helps unlock an agentic commerce future where consumers and businesses can transact with trust, security, and control. Mastercard will collaborate with Microsoft on new use cases to scale agentic commerce, with other leading AI platforms to follow. Mastercard will also partner with technology enablers like IBM, with its watsonx Orchestrate product, to accelerate B2B use cases. In addition, Mastercard will work with acquirers and checkout players like Braintree and Checkout.com to enhance the tokenization capabilities they are already using today with merchants to deliver safe, transparent agentic payments. For banks, tokenized payment credentials will be seamlessly integrated across agentic commerce platforms, keeping card issuers at the forefront of this rapidly evolving technology with enhanced visibility, security, and control. Mastercard Agent Pay will enhance generative AI conversations for people and businesses alike by integrating trusted, seamless payments experiences into the tailored recommendations and insights already provided on conversational platforms. By identifying and validating a customer using Mastercard’s tokenization technology, a retailer will be able to offer a meaningful and consistent shopping experience, layering on relevant and personalized benefits, such as recommended products, free delivery, rewards, and discounts. Mastercard will work with Microsoft to integrate Microsoft’s leading AI technologies, including Microsoft Azure OpenAI Service and Microsoft Copilot Studio, with Mastercard’s trusted payment solutions to develop and scale agentic commerce, addressing the evolving needs of the entire commerce value chain.
FTC order requires Workado to offer competent and reliable evidence to support the 98% accuracy and efficacy claims of its AI content detection product
The Federal Trade Commission issued a proposed order requiring Workado, LLC to stop advertising the accuracy of its AI detection products unless it maintains competent and reliable evidence showing those products are as accurate as claimed. The settlement will be subject to public comment before becoming final. The order settles allegations that Workado promoted its AI Content Detector as “98 percent” accurate in detecting whether text was written by AI or human. But independent testing showed the accuracy rate on general-purpose content was just 53 percent, according to the FTC’s administrative complaint. The FTC alleges that Workado violated the FTC Act because the “98 percent” claim was false, misleading, or non-substantiated. The proposed order settling the complaint is designed to ensure Workado does not engage in similar false, misleading, or unsupported advertising in the future. Under the proposed order, Workado: 1) Is prohibited from making any representations about the effectiveness of any covered product unless it is not misleading, and the company has competent and reliable evidence to support the claim at the time it is made; 2) Is required to retain any evidence it uses to support such efficacy claims; 3) Must email eligible consumers about the consent order and settlement with the Commission; and 4) Must submit compliance reports to the FTC one year after the order is issued and every year for the following three years.
SoFi to re-enter crypto business amid positive guidance from the Comptroller of the Currency on banks engaged in the sector; plans to offer crypto investing, payments and lending
SoFi has plans to bring back crypto services for its clients after suspending those operations in 2023 so as not to impede its effort to become a regulated bank. “We’re going to re-enter the crypto business, which we had to exit,” SoFi CEO Anthony Noto said. “We’ll re-enter the business of allowing our members to invest in cryptocurrency. We want to actually make a bigger, more comprehensive push into cryptocurrency, to include really providing crypto or blockchain capabilities in each product area that we have.” Noto said that thanks to new guidance from the Comptroller of the Currency, which was published in March and promised a reduced burden on banks engaged in the sector, the tech company could start offering crypto investing by the end of this year. SoFi will also look to use blockchain technology in all of its major products over the next 24 months, he said, and the company could also offer crypto payments as well as lending against crypto assets.
Wirex’s self-custodial banking platform for Web3 companies offers a full suite of corporate banking services including expense management, card issuance, treasury, and seamless fiat-stablecoin integration
Wirex has launched Wirex Business, a comprehensive corporate banking platform designed to serve the unique needs of Web3 companies and crypto businesses. Wirex Business offers robust tools and seamless integration of stablecoins and fiat currencies, empowering businesses to manage their treasury functions, issue corporate cards, and handle expenses efficiently in the ever-evolving Web3 landscape. The platform enables enterprises to streamline their financial operations with advanced features such as corporate bank accounts, corporate expense and payroll Visa cards, real-time payments, instant settlement, and built-in yield on stablecoin holdings. Designed with the self-custodial model in mind, Wirex Business ensures that businesses retain full control of their funds, giving them the confidence to manage their finances securely in a decentralized world. Key Features of Wirex Business: Corporate Bank Accounts, Corporate Expense & Payroll Cards, Instant Fiat<>Stablecoin Conversion, Built-in Yield, Self-Custodial Model, and Reporting. Wirex Business is designed to help Web3 companies, fintechs, and crypto businesses efficiently manage their financial operations and expand globally with ease. Daniel Rowlands, Managing Director of Wirex Pay said “By offering a full suite of corporate banking services, including expense management, card issuance, and seamless fiat-stablecoin integration, we are empowering Web3 companies to manage their treasury and operations with the same ease as traditional businesses. The future of finance is non-custodial and Wirex is pioneering business banking for the Web3 digital age.”
Xero partners financial operations platform BILL to offer US SMBs the ability to pay multiple bills at once in just a few clicks and track the status without leaving Xero
Xero launched the ability for its US customers to pay bills within Xero as part of its strategic partnership with BILL, a leading financial operations platform for SMBV’s. Xero and BILL are helping small businesses to streamline their accounts payable and make cashflow management even easier and more accessible. The new online bill payment capabilities, powered by BILL, are available to all US Xero small business customers. They can now pay their bills without leaving the Xero platform. This helps customers save time on manual workflows, all while building an accurate picture of their cash flow with even more insights to make informed business decisions. These insights are crucial in preparing US small businesses for the future, 48% of whom said they felt some cash flow pressures over a 12-month period. Xero online bill payments, powered by BILL, include: The ability to pay multiple bills at once in just a few clicks, all without leaving Xero; Access to BILL’s proprietary network of 7.1 million members — enabling small businesses to use the network to find their vendors and easily and efficiently start paying them; The ability to track the status of all bill payments made from Xero. This provides a digital record of which vendors have been paid, and when; A more secure way for small businesses to pay their bills, with two-step verification to help protect payments and financial data from fraud
Paze checkout reports loading 150 million debit and credit card accounts; partners Fiserv to attract more banks to offer the digital wallet
Paze, the digital wallet launched last year by Early Warning Services, has loaded 150 million debit and credit card accounts onto its nascent system. Now, those bank customer card holders can opt into the wallet if they’re interested in using it. More big banks are expected to link to Paze later this year, Early Warning’s Chief Partnership Officer Eric Hoffman said. He spoke alongside Deva Annamalai, Fiserv’s head of client strategy and solutions for digital payments. The processor is partnering with EWS to attract more banks to offer the digital wallet to their customers for online purchases. With Fiserv, there is “exposure to thousands of banks,” Hoffman said, explaining how additional banks will disclose working with Paze as they announce that the service is available to those banks’ customers. As Fiserv helps bring its bank clients onto the Paze system, it will benefit from the increased transaction volume it processes through the digital wallet. Some 70% of U.S. consumers don’t use a digital wallet so there is a broad opportunity to attract new users without having to do battle with some of the long-time rivals in the field, namely Apple Pay and PayPal, Hoffman said. Paze will be directed at consumers between 35 and 65 years-old who tend to be wealthy, and have been “protectionist” in their thinking about digital wallets, Hoffman said. This group has generally avoided using digital wallets so far, but they’re likely to sign up for Paze if it’s offered by their banks, just like they did with Zelle, he said.
PayPal’s new Offsite Ads, lets advertisers to tap into its transaction graph to reach millions with display and video advertising
PayPal is announcing the launch of Offsite Ads, a new way for advertisers to tap into the power of PayPal’s transaction graph and reach millions of consumers across the open web through display and video advertising. Offsite Ads is built on PayPal’s extensive two-sided network that connects millions of merchants and consumers, bringing a new level of precision to advertising by making cross-merchant transaction insights available — all while respecting consumer privacy. Unlike traditional approaches that rely heavily on browsing behavior or probabilistic models, PayPal Offsite Ads is powered by actual purchase data across millions of merchants. This enables brands to reach highly relevant audiences based on real shopping intent, not just inferred interest. For the first time, advertisers can leverage PayPal’s understanding of when and where people actually buy — across a wide range of categories — to inform smarter media buying decisions. PayPal allows brands to connect with audiences in a different and more relevant way than standard third-party cookie-based or contextual targeting methods. Publicis Media will be the first agency partner to offer Offsite Ads to brands, enabling advertisers to bring more precision, rigor and performance to advertising across platforms. PayPal Offsite Ads are available through leading channels, allowing advertisers to activate campaigns at scale across premium websites, apps, and CTV environments, while ensuring seamless integration with existing media buying strategies.
Checkout.com’s IDV solution uses AI-based facial matching and liveness detection to verify users against their onboarding data and detect spoofing attempts like deepfakes or video injection at any point in UX journey
Checkout.com announced the launch of face authentication, an AI-powered extension to its Identity Verification (IDV) solution. The new feature enables businesses to securely verify and re-authenticate returning users in seconds using live video and facial matching, helping to remove friction from critical user flows such as password recovery, employee onboarding, and secure platform access. IDV now uses AI-based facial matching and liveness detection to verify users against their onboarding data, while detecting spoofing attempts like deepfakes, masks, or video injection. The feature can be triggered at any point in the user journey, and is fully automated, removing the need for passwords, one-time codes, or manual review. The product supports a broad set of industries, including but not limited to government, healthcare, financial services, e-signatures, food delivery, loyalty programs, and airlines. “Checkout.com’s biometric solution sets a new benchmark in identity verification, combining greater speed and security with a firm commitment to ethical standards,” comments Milan Jani, VP of Product at Checkout.com. “Built to meet FIDO Alliance certification requirements, the product is already achieving consistent algorithm performance, confidently offering businesses and users alike inclusive and secure experiences.” Face authentication, which is available through an all-in-one verification API, has already helped customers achieve up to an 8-point increase in returning-user conversion rates.
FIS next-gen enterprise treasury platform runs on public cloud and enables harnessing data from multiple sources such as ERP systems and bank APIs, to enable cash-management analysis in real time
FIS has launched its next-generation enterprise treasury platform, Treasury and Risk Manager – Quantum Cloud Edition. This cloud-native solution can support increased workloads, larger transaction volumes, and increased enterprise connectivity, scaling these capabilities to provide CFOs and corporate treasurers with greater visibility of risks; improved data-driven decision-making; and faster, more efficient money movement. FIS is launching its enhanced solution as CFOs and corporate treasurers increasingly need to accelerate performance across their technology infrastructure. According to EY, 65% of businesses have made strategic investments in the cloud, but only 32% are achieving their goals for the technology, a dynamic that reinforces the importance of true scalability for more effective cloud-based ecosystems. By running on a public cloud, this solution not only features stronger data processing power and connectivity, but also can provide a new level of flexibility for quicker implementations, faster product upgrades and more seamless rollouts of new capabilities. In addition to leveraging the power of the public cloud, this version of FIS’ treasury and risk management solution offers a new Liquidity Hub module for harnessing data from multiple sources – such as enterprise resource planning systems and bank APIs – to enable cash-management analysis in real time.
Meta is rolling out a standalone AI app that can create personalized responses by drawing on the information the user has already chosen to share on Meta products
After integrating Meta AI into WhatsApp, Instagram, Facebook, and Messenger, Meta is rolling out a stand-alone AI app which allows users to access Meta AI in an app, similar to the ChatGPT app and other AI assistant apps. To win over users, Meta is trying to leverage what makes it different from companies like OpenAI and Anthropic — Meta already has a sense of who you are, what you like, and who you hang out with based on years of data that you’ve likely shared on Facebook or Instagram. Meta’s AI app can differentiate itself from existing AI assistants because it can “[draw] on information you’ve already chosen to share on Meta products,” the company said, such as your profile and the content you engage with. So far, these personalized responses will be available in the U.S. and Canada. You can also give Meta more information about you to remember for future conversations with its AI. Meta’s AI app also introduces a Discover feed, where you can share how you’re using AI with your friends — in a mock-up image, Meta shows someone asking the AI to describe them in three emojis, which they then shared with their friends. A user’s interactions with Meta AI will only be shared to the feed if they choose to do so.