Mastercard has completed the first agentic transactions in Cyprus within a regulated environment, in collaboration with Alpha Bank Cyprus, Eurobank Cyprus, and Bank of Cyprus, demonstrating how artificial intelligence solutions can be securely integrated into e-commerce.

The transactions were carried out through the Mastercard Agent Pay platform, allowing an AI agent to complete purchases on behalf of the consumer, provided that explicit consent is given and processes are in place to ensure identity verification, authentication, and personal data protection.

As part of the pilot implementation, the AI agent completed transactions through Priceless.com, Mastercard’s experiences platform, while the PayOS technology platform supported the end-to-end execution of the process.

The technology relied on the use of “agentic tokens,” designed to strengthen the protection of sensitive data and enable secure consumer identity verification throughout the transaction process.

Panagiotis Polydoros, Country Manager of Mastercard for Greece, Cyprus, and Malta, stated that artificial intelligence has the potential to significantly simplify the management of everyday needs and transactions, while emphasizing that trust and security remain essential prerequisites for broader adoption.

He added that Mastercard Agent Pay was designed to ensure that AI-initiated transactions remain transparent, authenticated, and under the consumer’s control, while enriched transaction data provides issuers with clearer visibility into activity conducted through AI agents.

Mastercard noted that it continues to collaborate with organizations and businesses across Europe to further develop secure and certified AI-powered transactions across different sectors of the market.

Source: Brief