Bank of America partnered with five global banks. These banks are NatWest Group, ASB Bank, Capital One, Commonwealth Bank of Australia, and ING Group. They established principles for agentic commerce.
Agentic commerce involves artificial intelligence agents. These agents make purchases and payments for consumers and businesses.
The collaboration aims to create a trusted framework. This framework will guide the responsible development of the emerging technology. The published principles focus on five key areas: transparency, safety, privacy and data, customer choice, and interoperability.
The banks invite other financial institutions, merchants, and technology providers. They seek help to shape the practical application of these standards.