UBS EMEA Payments Innovation Events Series: Pints & Payments - Agentic Commerce with VGS, PSE Consulting, Railo, and Juspay

Research evidence excerpt

UBS EMEA Payments Innovation Events Series: Pints & Payments - Agentic Commerce with VGS, PSE Consulting, Railo, and Juspay

ce, chargebacks, refunds, fraud, regulation and

liability has made direct ownership of payments and other shopping related journeys less

attractive. Our panelist from PSE noted that AI platforms and agents are primarily

seeking to own the customer outcome, while avoiding the risk, liability and operational

complexity embedded in payments. Our panelists agreed that agents may influence

discovery, routing and payment method selection, but they are unlikely to take on the

full risk and operational burden of becoming payment processors, acquirers or

merchants of record at scale. Tokenisation was framed as a key enabling layer, with

network-led agentic token models allowing transactions to remain tied to the original

user while adding agent identity, device, consent and approved-purchase context,

thereby preserving existing protections while enabling agent-driven commerce.The

panel had strong agreement that modern payment processors (such as Adyen,

Checkout.com and Stripe) were likely to benefit further from the shift to agentic

commerce, rather than see a greater standardization or uniformity to capabilities.

Stablecoins are relevant, but not necessary for agentic commerce

We discussed whether stablecoins could become the native currency of agents,

particularly for micro-transactions, cross-border flows and machine-to-machine

payments. Panelists noted that stablecoins may be better suited to use cases where card

economics are weaker, including small-value transactions and instant access to digital

resources. However, panelists did not view stablecoins as a prerequisite for agentic

commerce.