关于代理型商业的思考：变化每周迭代，但支付处理行业格局日益显得如常运转

Last month, Meta began working with Stripe to enable card-based agentic payments in Muse, a personal assistant tool that can take action on behalf of customers and has seen record early adoption. Based on conversations with industry constituents, including at Money20/20, we believe how Muse is set up suggests that the development of agentic commerce is looking increasingly similar to traditional ecommerce, at least in the near term — a notable shift from six months ago when we envisioned a direction of travel requiring complex merchant integrations and alignment around agentic protocols. We see the extended impact as: beneficial to payment networks as AI payment infrastructure is increasingly built on cards, with an outsized near-term benefit as virtual cards are leveraged for non-integrated agentic flows, but long-term beneficial to network token usage;