Agentic Commerce; UBS Payments Innovation Event Series "Agentic Commerce..."

Research evidence excerpt

Agentic Commerce; UBS Payments Innovation Event Series "Agentic Commerce..."

Global Research

8 June 2026ab

Agentic Commerce; UBS Payments Equities

AmericasInnovation Event Series

Diversified Technology Services

Agentic Commerce update with VGS

Timothy E. Chiodo, CFA

Analyst

timothy.chiodo@ubs.com

Insights & discussion with VGS: We hosted Chuck Yu, CEO, and Marshall Jones, CTO +1-415-352 4500

and co-founder, of Very Good Security (“VGS”) for a discussion and technical demo on Chris Zhang, CFA

agentic commerce. VGS is a vaulting and tokenization infrastructure provider that stores Analyst

sensitive financial data on behalf of customers and enables that data to be transmitted chris.zhang@ubs.com

securely across payment flows. The company noted that it currently stores ~7bn +1-212-713 4911

financial records / sensitive data points and sees approximately ~3-4bn monthly Kyle Crews

interactions across its platform. VGS has become increasingly relevant to agentic Analyst

commerce given the need to prevent AI agents from directly holding sensitive payment kyle.crews@ubs.com

credentials, while still enabling agents to initiate and complete transactions across +1-212-882-0088

merchants, processors, wallets, networks, and other ecosystem participants. Topics of Jing Zhang

discussion included the current state of agentic commerce adoption across B2B, Associate Analyst

developer, and consumer use cases; the role of vaulting, tokenization, and agentic jing.zhang1@ubs.com

network tokens in enabling secure agent-led payments; authentication, wallets, and +1-212-882 0091

payment intent; implications for card networks and payment economics; the evolving Pat Ennis, CFA

protocol landscape (ACP, UCP); alternative rails such as stablecoins; and unresolved Associate Analyst