NatWest & banks set out AI agent payment principles

NatWest Group and five other banks have published joint principles for agentic commerce, a framework intended to build trust in payments made with the help of AI agents.

The group includes NatWest, ASB Bank, Bank of America, Capital One, Commonwealth Bank of Australia and ING Group. Together, they say the principles will help guide the development of agentic commerce as AI systems take on a larger role in how consumers and businesses select and pay for goods and services.

Agentic commerce refers to transactions in which AI agents act on behalf of users during shopping and payment. That shift raises questions about customer control, merchant choice, security, privacy and how payment systems work across providers.

The document sets out five areas of focus: transparency, safety, privacy and data, choice, and interoperability. The principles are intended to ensure customers and merchants retain control and flexibility over how they pay and get paid, while maintaining security.

For the banking sector, the move reflects an effort to shape standards early in the development of AI-led payment models. Banks sit between consumers, merchants and payment networks, processing large volumes of transactions and giving them a central role in how new methods are introduced.

"Agentic commerce has the potential to make everyday tasks simpler for customers and businesses, helping people find, buy and pay for what they need more quickly and efficiently. But for that potential to be realised, customers need to trust that they remain in control of how payments are made and that their money is safe. As this technology begins to emerge in the UK, it's important that the industry works together to establish clear and consistent foundations. By collaborating with other leading banks, we're helping to shape an approach that puts transparency, security and customer choice at its heart. These principles are designed to support innovation while helping customers and businesses use new services with confidence as the technology evolves," said Mark Brant, Chief Payments Officer at NatWest Group

Shared concerns

The paper highlights a common set of concerns among large financial institutions as AI moves closer to the point of sale. These include verifying identity, managing authorisation, preventing fraud, handling liability and protecting users when something goes wrong.

Jonathan Oram, Executive General Manager, Corporate Banking & Payments, at ASB Bank, said: "Agentic commerce has the potential to transform how people and businesses interact with the economy, but its success will ultimately depend on the strength of the underlying payments infrastructure. New Zealand is already undertaking significant payments modernisation, and we see a clear opportunity to ensure new AI-enabled payment experiences are built on trusted foundations that support customer control, competition, security and interoperability from day one."

Mark Monaco, Head of Global Payments Solutions at Bank of America, said: "As agentic commerce continues to evolve, establishing trust and confidence across the ecosystem will be critical to its long-term success. Building confidence among consumers, merchants and financial institutions will require thoughtful approaches to identity, authorization, fraud prevention, liability management and customer protection. We look forward to collaborating across the payments ecosystem to help establish common principles and standards that support innovation while protecting participants and fostering broader adoption."

Capital One framed the issue around customer expectations. Todd Kennedy, EVP, Payments Strategy, at Capital One, said: "At Capital One, we've always believed that great payments innovation starts with the customer. Agentic commerce is an exciting frontier, and we're committed to helping shape it the right way - building a secure, trusted ecosystem that works for both consumers and merchants."

Industry blueprint

The six banks are also seeking broader industry engagement around the framework. They want other banks and institutions across the payments ecosystem to test the principles in practice, share views and help create a blueprint for implementation.

That suggests the group sees the publication less as a final rulebook than as an opening position in a broader industry effort. Payment systems depend on coordination across banks, merchants, technology providers and networks, particularly where AI tools may need to operate across different platforms and markets.

Ethan Teas, Executive General Manager, Payments, at Commonwealth Bank of Australia, said: "Agentic commerce presents an exciting opportunity for innovation in commerce that can deliver simpler and more personalised experiences for consumers and open new markets and channels for merchants to grow their businesses. Building trust from the outset will be critical. As Australia's largest issuer and acquirer, CBA is focused on helping ensure the security and protections customers expect from today's payments ecosystem evolve alongside this technology, so they can benefit from innovation with confidence. Working collaboratively across the ecosystem will be essential to building a safe, trusted and sustainable ecosystem as agentic commerce develops."

ING also highlighted the need for users to understand what AI agents are doing on their behalf. That goes to the heart of transparency, one of the paper's five principles, and reflects concern that automation in payments could outpace customer awareness if standards are unclear.

Hans Overeem, Head of Payments at ING Group, said: "Agentic commerce has the potential to transform how customers shop and pay. As AI agents enter the payments ecosystem, customers must remain in control, understand what the agent is doing, and have confidence that their data and payments are secure. These shared principles are an important step towards translating that ambition into practical guidance for the industry."