Mastercard will launch a service this week in partnership with startup Alchemy that uses AI agents for everyday payments, the Wall Street Journal reported on Wednesday.

Alchemy helps users have an AI bot issue a virtual card. Users can also set spending limits and the types of products that can be purchased in advance.

Mastercard's move reflects scenarios in which AI bots drive purchases. Mastercard and Alchemy said cardholder approvals can be handled in multiple steps. Customers can approve transactions based on pre-set conditions and leave the rest to the agent. They can also set it to request confirmation again just before payment.

Visa has already partnered with Alchemy. Mastercard's move means most credit card consumers can use Alchemy tools.

There are expectations about its potential, but in reality AI shopping is still at an early stage. It is also still uncertain how much people will embrace AI shopping.

Executives in the payments industry cite trust issues as the biggest barrier. Users may feel fear about entrusting their credit card information to an AI bot. The WSJ reported that there are also concerns about situations in which an agent repeatedly makes purchases without approval.

It is also unclear how regulators will handle agentic payments. Brendan Coughlin (브렌던 코플린), chairman of Citizens Financial Group, said, "The concept of agentic payments itself is great," but added, "There are clearly risks."