The AI-powered checkout has arrived with Santander’s Getnet, a global merchant payments platform that now lets businesses accept payments initiated by artificial intelligence agents.
AI Agents Take the Wheel
Getnet’s new infrastructure can handle payments initiated by both merchant-owned AI agents and third-party AI agents that operate independently. These AI agents can make purchases on behalf of users, eliminating the need for human intervention in the checkout process.
The AI agents can communicate with the platform through APIs, allowing them to initiate payments seamlessly. This integration is a significant development, as it enables merchants to explore new revenue streams and customer engagement strategies.
The Rise of Agentic Commerce
Getnet’s innovation is part of the emerging trend of agentic commerce, where AI agents take on a more prominent role in the buying process. This new paradigm has the potential to revolutionize the way we shop, making transactions faster, more secure, and more personalized.
According to a report by Forrester, the global B2C e-commerce market is expected to reach $6.5 trillion by 2023, with AI-powered commerce playing a significant role in driving growth. As AI agents become increasingly sophisticated, we can expect to see more businesses integrating them into their payment systems.
What this means
For merchants, Getnet’s AI-powered platform opens up new opportunities to enhance the customer experience and drive sales. By allowing AI agents to initiate payments, businesses can streamline their checkout processes and reduce friction for users. This, in turn, can lead to increased conversion rates, higher average order values, and improved customer satisfaction.
