Fed's Waller: AI shopping changes what banks need to authenticate
Fed Governor Waller said on 30 September that AI-based shopping changes what banks must authenticate. Further analyses say banks and fintech companies must decide in real time whether an agent-initiated transaction is authorised.
Who is affected and how
- banking professional
- Fraud-detection and authentication models must distinguish between a transaction initiated by the customer and one initiated by their agent.
- fintech company
- Spending permissions granted to agents should be designed in tiers, with limits.
Sources
- Fed’s Waller Says AI Shopping Changes What Banks Need to Authenticatepymnts.com · Sep 30, 2026
- Fed’s Waller: AI Shopping Changes What Banks Must Authentica… - EUROPE SAYSeuropesays.com · Oct 2, 2026
- AI agents are entering the payments. So is the riskmoneycontrol.com · Oct 3, 2026
- AI Agents Enter Payments, Raising Real-Time Fraud Riskbtin.co.in · Oct 3, 2026
- Agentic Payments: What to Build Before AI Agents Move Moneysoftjourn.com · Oct 1, 2026
- Mastercard Expands Agentic Commerce Strategy as AI Agents Move Into Payments - Hedge Thinkhedgethink.com · Oct 2, 2026
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