You say, “Buy gold worth Rs 500 as soon as the price goes below Rs 16,000 per gram”, and its done! Sounds utopian, right? But it could soon become a reality with an AI agent making autonomous payments at the price set by you, so you never miss a deal, discount or sale.
Every investor would feel the pain of missing a trade at a lower price before it went out of reach. But now, you can deploy an AI agent to do this, without having to worry about missing out on the extra returns.
While might be extensively using artificial intelligence (AI) for automating tasks, writing emails, finding the best deals, but now it can decide when to strike deals using UPI mandate. Fintech firm Pine Labs has introduced India’s first agent-to-agent payment capability.
Automated transactions: An AI agent that can make UPI payments on its own
Called Pine Labs Payment Protocol (P3P), this AI agent can complete a UPI payment without any human authentication. However, the human still stays in control. Currently, AI agents need a human authentication step, an MPIN, to make any payments. Pine Labs has removed this wall.
In agentic commerce, where AI acts on a user’s behalf, there is no person at that moment. The agent reaches checkout. The authentication screen appears. The transaction fails, the company explained.
It’s AI agent P3P builds on UPI’s existing mandate framework - UPI One Time Mandates (OTM) and Reserve Pay - wherein a user gets a mandate for a particular payment (SIP, IPO etc.), which they approve and the transaction is complete. This AI agent would need an authorisation from the consumer once. After that, the agent would browse, select, negotiate, and pay.
