Google has unveiled a new open protocol called Agent Payments Protocol (AP2), designed to allow AI agents to transact on behalf of users in a secure, auditable, and interoperable manner. The platform bridges the gap between advancing agentic AI and existing payment infrastructure, supporting methods ranging from credit/debit cards to stablecoins and real-time bank transfers.

More than 60 companies have already signed on as collaborators, spanning fintech providers, payment networks, merchants and SaaS platforms. Key names include American Express, Mastercard, PayPal, Revolut, Coinbase, Etsy, Salesforce, Intuit, JCB, and others.

At the heart of AP2 are Mandates and Verifiable Credentials:

• An Intent Mandate captures what the user wants (“buy white shoes under ₹5,000,” for example).

• A Cart Mandate is then generated once specific items are selected, confirming the purchase.

These structures aim to solve three major challenges in agent-led payments: authorization (did the user allow this purchase?), authenticity (does the agent reflect what the user intended?), and accountability (who is responsible if something goes wrong?).

Though AP2 is publicly specified and ready for adoption by developers, it has not yet been widely deployed in consumer-facing products. Google is calling on the broader payments, merchant and AI-agent ecosystem to build on this foundation.