Mastercard will launch a service this week with startup Alchemy that uses AI agents for everyday payments, the Wall Street Journal reported. Alchemy helps users have an AI bot issue a virtual card and set spending limits and purchasable product categories in advance. Mastercard and Alchemy said cardholder approvals can be handled in multiple steps, including pre-set conditions or reconfirmation before payment. Executives cite trust as a key barrier.

The Korea Fintech Industry Association said it signed an agreement with XRPL Korea on Aug. 20 to help domestic fintech firms identify and commercialise new digital asset-based businesses. The two plan joint programmes focused on payments, remittances and settlement, stablecoins, tokenisation of real-world assets and digital asset financial infrastructure. They will support idea verification, proof-of-concept work and service implementation, and may link follow-up cooperation with global XRPL networks and financial institutions.