Mastercard’s Chief Product Officer Jorn Lambert said consumers are nearing a paradigm shift from traditional browsers toward AI concierges that search and purchase products on their behalf. Lambert noted that consumers are beginning to use ChatGPT instead of Google to search for products like "best running shoes." He said it's a natural next step for users to ask the AI agent to complete the purchase. Mastercard launched Agent Pay, a system that secures AI-driven purchases by registering trusted bots and encrypting each transaction with cryptographic tokens. Online shopping fraud losses reached $750 million in 2024 amid $12.5 billion in total consumer fraud.
