Mastercard and Fiserv have entered into a partnership that will enable merchants to use AI agents to transact on their behalf. The deal makes Fiserv one of the first major payment processors to deploy Mastercard’s Agent Pay Acceptance Framework at scale, allowing merchants to request network tokens on behalf of partners through Fiserv’s Secure Card on File solution. The framework delivers tokenization, strong authentication, fraud prevention and governance, giving merchants a secure, interoperable platform for AI‑driven payments.
The partnership positions Mastercard as a key infrastructure provider for the next generation of digital commerce. Industry analysts project that agentic commerce could generate up to $1 trillion in orchestrated revenue in the U.S. B2C market by 2030 and $3–5 trillion globally. By integrating its technology with Fiserv’s merchant‑centric platform, the two companies aim to unlock new revenue streams for merchants while simplifying participation and reducing friction in the checkout process.
Mastercard’s Q4 2025 results showed a 14 % year‑over‑year revenue increase and a 16 % currency‑neutral rise, driven by strong cross‑border activity and higher transaction volumes. CEO Michael Miebach highlighted the company’s robust performance and its recent acquisition of Recorded Future, underscoring a broader strategy to embed AI across its services. Fiserv, meanwhile, beat Q4 2025 earnings estimates and posted revenue growth, but faced margin compression from investments in new payment capabilities and competitive pressure in the merchant‑processing market. The partnership is a strategic response to these dynamics, strengthening both firms’ positions as AI adoption accelerates.
Sanjay Saraf, SVP and Global Chief Product Officer for Merchant Solutions at Fiserv, said the collaboration “establishes the foundation for secure, intelligent, and interoperable agentic commerce experiences.” Chiro Aikat, Co‑President of U.S. at Mastercard, added that the partnership “simplifies transactions, reduces friction and enables merchants to deliver faster, more personalized experiences.” These statements illustrate the joint focus on security, governance and merchant empowerment that underpins the deal.
The announcement comes amid a broader race among payment networks to define agentic commerce standards. Visa has also announced a similar partnership with Fiserv, and competitors such as Stripe and Google are developing their own AI‑payment solutions. By securing a leading role in this emerging space, Mastercard and Fiserv aim to reinforce their services moats, capture early market share, and create new growth avenues for merchants worldwide.
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