Why Everyone in Payments Is Talking About Agentic AI (And Your Business Should Too)

The payments industry is buzzing with excitement about something that sounds like science fiction but is happening right now. Agentic AI isn't just another tech buzzword: it's fundamentally changing how businesses handle payments, and frankly, it's pretty mind-blowing when you see it in action.

Unlike the AI tools you might already use that wait for your commands, agentic AI takes initiative. These digital agents can independently manage, authorise, and execute payments on your behalf, making financial decisions without constant human oversight. Think of it as having a super-smart financial assistant that never sleeps, never makes calculation errors, and can process thousands of transactions faster than you can say "approved."

What Makes Agentic Payments Different?

Here's where it gets interesting. Traditional payment systems are like having a really efficient conveyor belt: they move things along quickly, but you still need someone to put items on the belt and take them off at the other end. Agentic payments are more like having a personal shopper who knows exactly what you need, when you need it, and how much you're willing to pay.

Picture this scenario: Your AI agent notices your regular coffee shop has a massive queue (thanks to the morning rush), so it automatically orders your usual flat white from the café next door, pays using your preferred card, and sends you a notification when it's ready for pickup. No app-opening, no manual ordering, no standing in queues. The agent just sorted it out because it understood your preferences and priorities.

This isn't hypothetical: this level of autonomous decision-making is already being tested by major companies across Australia and globally.

The Big Players Are All In

When you see companies like Visa, Stripe, and Google making serious moves in this space, you know something significant is happening. Visa recently launched their Digital Credential Innovation Hub specifically to explore new identity frameworks for agent-driven transactions. That's corporate speak for "we're betting big on AI agents handling payments."

Stripe has been quietly developing secure infrastructure for AI-to-merchant payments, while Google has revealed plans for what they're calling an "agentic" checkout flow. Jack Forestell, Visa's global head of product, recently compared the potential impact to the revolutionary changes brought by e-commerce and mobile payments. That's quite a statement when you consider how those technologies completely transformed how we do business.

The momentum is undeniable, and Australian businesses are starting to take notice too. RivaTech Consulting has been working with local fintech companies to understand how these changes might impact their operations and what they need to prepare for.

Why Businesses Are Getting Excited

Always-On Operations

One of the most compelling benefits is that these systems never sleep. While your human staff needs breaks, weekends, and holidays, agentic payment systems operate 24/7 without missing a beat. For businesses dealing with international clients or operating across multiple time zones, this means payments can be processed instantly regardless of when the request comes through.

Handling the Small Stuff at Scale

Traditional payment infrastructure often struggles with high-frequency, low-value transactions. The processing costs and latency just don't make sense for microtransactions. Agentic payments solve this by enabling real-time, event-triggered micropayments. Think IoT devices, usage-based pricing models, or platforms handling thousands of small transactions daily: suddenly all these become economically viable.

Learning and Adapting

Perhaps most impressively, these systems get smarter over time. They learn from patterns, adapt to user preferences, and can predict financial needs. An agent might notice that your business always needs to pay certain suppliers earlier in the month when cash flow is tighter, and start suggesting or even automatically scheduling payments to optimise your working capital.

Real-World Applications That Make Sense

Smart Procurement

Imagine setting your AI agent to find and purchase office supplies with specific parameters: "Keep our printer paper stocked, but never pay more than $50 per ream, and always choose suppliers with same-day delivery." The agent monitors inventory, tracks prices across suppliers, and executes purchases automatically when conditions are met.

Accounts Receivable Revolution

This is where Australian businesses are seeing immediate value. Much of accounts receivable work is repetitive and manual: perfect for automation. Cash application reconciliations, which involve matching invoice data to payment data, are already being transformed. AR software providers are now developing agents that can handle these processes completely autonomously.

Subscription and Billing Management

For businesses with complex subscription models or variable pricing, agentic AI can manage the entire billing lifecycle. It can adjust prices based on usage patterns, handle payment failures with intelligent retry logic, and even negotiate payment terms with customers based on their history and preferences.

The Challenges You Need to Know About

Let's be realistic: this technology isn't without its complications. When AI agents make autonomous purchasing decisions, questions arise about accountability. Who's responsible when something goes wrong? What happens if the agent misinterprets a situation and makes an inappropriate payment?

Regulatory Complexity

The autonomous nature of these transactions creates new liability frameworks that traditional payment systems haven't had to address. Australian financial regulations are still catching up to these developments, which means businesses need to tread carefully and stay informed about changing compliance requirements.

Fraud Prevention Concerns

Industry experts are genuinely worried about fraud risks. The autonomous nature of agentic payments could potentially create new attack vectors that traditional fraud prevention systems aren't designed to handle. It's like having a really smart employee who could potentially be tricked by an even smarter criminal.

Why Australian Businesses Should Act Now

The shift toward agentic AI in payments isn't just a nice-to-have feature: it's becoming a competitive necessity. Businesses that understand and prepare for this technology now will have significant advantages over those that wait.

The technology is democratising convenience that was once only available to large corporations with dedicated finance teams. Small and medium businesses can now access the same level of automated financial management that previously required expensive infrastructure and specialist staff.

Companies moving fastest in this space are positioning themselves to capture significant competitive advantages. They're reducing operational costs, improving customer experiences, and freeing up human resources for higher-value activities.

Getting Started: Practical Steps

If you're considering how agentic AI might fit into your business, start by identifying repetitive payment processes that consume significant time and resources. Look for areas where delays in payment processing create bottlenecks or customer friction.

Consider beginning with low-risk, high-volume transactions: like recurring supplier payments or subscription billing. These provide good learning opportunities without exposing your business to significant risk.

Most importantly, stay informed about regulatory developments and ensure you have proper oversight mechanisms in place. Agentic AI should enhance human decision-making, not replace human judgment entirely.

The payments industry is evolving rapidly, and agentic AI is leading that evolution. For Australian businesses, the question isn't whether this technology will become mainstream: it's whether you'll be ready when it does.

Understanding and preparing for agentic payments now means you'll be positioned to leverage these powerful tools as they become more widely available, giving your business the efficiency gains and competitive advantages that early adopters always enjoy.