Google has announced the Agent Payments Protocol (AP2), a new open framework designed to let AI agents securely make purchases on behalf of users. The initiative has received backing from over 60 major financial and technology companies, signaling strong industry support for autonomous AI transactions. AP2 introduces the concept of secure digital contracts, called 'mandates,' that verify user authorization before an AI agent completes a transaction. For example, real-time purchases require dual approvals: an 'Intent Mandate' for searching and a 'Cart Mandate' to finalize payments. This approach ensures accountability and prevents unauthorized actions by AI systems. The protocol is designed to support multiple payment methods including traditional credit/debit cards, bank transfers, and stablecoins, with collaborations from firms such as Coinbase and other crypto companies. Major backers of the framework include American Express, Mastercard, PayPal, Salesforce, and Intuit, with Google publishing the technical specifications openly on GitHub to encourage transparency and adoption. Industry experts highlight the importance of this protocol as AI agents move closer to becoming autonomous shoppers. By providing secure and trusted payment rails, AP2 addresses a key accountability gap in AI commerce. According to Google, this protocol lays the foundation for a future where AI systems can handle user transactions safely and efficiently, with broad industry participation ensuring rapid adoption. Source: Google Cloud Blog