AI agents could decide where your money goes — not your banking habits

As AI moves from recommending products to making purchases and choosing payment options, Mastercard sees a future where algorithms continuously optimise consumers’ wallets—and negotiate with retailers on their behalf.

By 2030, the traditional idea of being “top of wallet” could become less relevant, according to Mastercard’s report A Short History of the Future of Shopping and Payments. Instead of consumers routinely choosing the same card or payment method, an AI agent could continuously assess which option best meets their objectives, preferences and constraints.

The agent could evaluate factors such as interest rates, cashback, foreign transaction fees, fraud liability and compliance status before selecting a payment option for a particular purchase. In this model, “top of wallet” becomes a scorecard rather than a habit.

That could challenge the way banks currently compete for customer spending. Rewards, sign-up bonuses and app-based engagement largely assume that the human consumer is making the final choice. If an agent makes that decision, the payment option offering the best outcome could win instead.

AI agents could negotiate the price

The report also sees AI changing the retail side of the transaction. By 2027, AI agents could negotiate at scale for better value, potentially making the shelf price less of a final price and more of an opening offer in some categories.

Negotiation would not necessarily mean simply demanding the lowest price. Agents could seek calibrated bundles combining discounts with warranties, service tiers or loyalty benefits. Mastercard describes this as “value calibration, never raw price discrimination.”

The report expects this bargaining to become more sophisticated as networks of AI agents negotiate with one another. A retailer, for instance, could have its own agents managing priorities such as price, waste and sustainability, while the consumer’s agent negotiates against them.

The bigger issue

This shift also raises a question of trust. Mastercard says consumers will need confidence that their agents act in their best interests, follow instructions and remain within authorised permissions. Businesses, meanwhile, will need to know that the AI they are dealing with is a legitimate and accountable counterparty.

The report therefore predicts that consent could itself become a product, with consumers given visibility and the ability to revoke permissions. It also envisages machine-readable warranties attached to transactions to specify liability.

The result could be a fundamental change in shopping: instead of consumers comparing products, prices and payment options themselves, AI agents could do much of that work—and decide where the money goes.