Mastercard Delivers its First Live Agentic Transaction in Singapore With DBS and UOB

WHY THIS MATTERS: The successful execution of a live, AI-initiated payment in a major financial hub like Singapore is a critical turning point for the future of digital payments. This development signals the movement from purely contextual payments—where a human initiates a transaction—to truly autonomous agentic commerce. The significance is not the simple task of booking a ride, but the underlying architecture used: “Agent Pay,” which introduces a tokenized security layer specifically designed for AI agents. This commitment to establishing trust and clear customer authorization addresses the single largest hurdle to mass adoption of automated transactions. By embedding security protocols like unique agent tokens and passkeys at the foundational level, Mastercard is setting the necessary standard for governance and consumer protection in an AI-driven economy. This value-first approach demonstrates to institutions why the time to invest in secure, AI-ready payment rails is a strategic imperative.

Mastercard announced the completion of its first live, authenticated agentic transaction in Singapore with DBS and UOB, marking a step towards trusted AI-powered commerce. This milestone builds on recent news of a new AI Center of Excellence in Singapore, which is set to become Mastercard’s largest innovation space in the region. 

This transaction with DBS and UOB shows how AI can help consumers complete everyday tasks — from transportation to lifestyle services — securely and seamlessly. In this use case, an AI agent booked a ride to Singapore’s Changi Airport through hoppa, a global mobility provider. The booking and agentic transaction was facilitated by CardInfoLink’s AI agent, which connects to hoppa’s taxi and airport limousine network.  

The transaction used tokenized credentials authenticated with Mastercard Payment Passkeys to ensure strong consumer verification and data protection.   

Minsook Cho, Country Manager, Singapore, Mastercard, said, “As the nation advances its AI agenda, Mastercard’s first live agentic transaction shows how innovation can be brought into everyday services responsibly and securely with Agent Pay. Together with likeminded partners like DBS and UOB, Mastercard is supporting the vision for AI‑powered commerce by building trusted foundations.”  

Powered by Mastercard Agent Pay

Mastercard Agent Pay provides the safeguards needed for secure AI‑initiated purchases. Each transaction uses a Mastercard Agentic Token, uniquely issued to each agent for enhanced security. Consumer consent is explicitly captured and purchase confirmation is secured via Mastercard Payment Passkeys. 

Mastercard will continue to work with partners to expand the use cases for secure, authenticated agentic transactions across further industry segments including transportation, travel, entertainment, and retail. 

Building the Future of Trusted AI‑Powered Commerce

Looking ahead, Mastercard is accelerating the growth of agentic commerce across Asia Pacific through additional efforts:

• Establishing a regional AI Centre of Excellence in Singapore to drive innovation and strengthen governance for AI led transactions.  

• Building deeper collaborations with leading large language model providers and AI agents across the region.  

• Deploying dedicated agentic commerce teams across the region to support financial institutions and merchants as they transition to agent-led experiences  

This milestone builds on Mastercard’s growing leadership in agentic commerce across Asia Pacific, following earlier authenticated agentic transactions completed in Australia, New Zealand and India. 

Together, these deployments demonstrate the accelerating adoption of secure, AI‑initiated payments across the region — and Mastercard’s continued progress in establishing trusted, scalable foundations for agent‑powered commerce.

Ananya Sen, Group Head of Regional Consumer Products, DBS Bank, said: “At DBS, we have long been at the forefront of digital innovation, particularly in how customers transact. We view agentic commerce as an important development in the future of payments, especially in an AI-enabled economy. As transactions become increasingly autonomous, robust safeguards, transparency and customer authorization are paramount. Our collaboration with Mastercard demonstrates how these principles can be embedded responsibly from the outset.”

Pratik Bhattacharjee, Head of Group Cards and Payment Products at UOB, said: “As a leading ASEAN bank, UOB remains committed to meeting our regional customers’ evolving needs. Our partnership with Mastercard reflects our proactive approach to consumer trends, delivering innovative, secure, and seamless AI-powered banking experiences. Combining innovation and strong governance, this collaboration provides a trusted, future-ready framework for agentic payments, setting new standards as AI becomes a key element in the future of commerce.” 

FF NEWS TAKE: This authenticated transaction framework, supported by major banks DBS and UOB, unequivocally moves the needle for trusted transactions in Asia Pacific. By establishing clear safeguards like dedicated Agentic Tokens and Payment Passkeys, Mastercard has validated the commercial viability of AI-initiated purchases. The next crucial phase to observe is how quickly this technology scales across high-volume use cases like retail and travel, supported by the new Singapore AI Center of Excellence. Success hinges on accelerating merchant adoption of this secure payment protocol.