Shinhan Card is collaborating with SK Telecom to establish standards for 'AI Payment,' where artificial intelligence (AI) will handle everything from product recommendations to transactions.
On September 10, Shinhan Card announced its participation as a financial partner in the SK Telecom consortium for the 'Everyone's AI' project, which is promoted by the Ministry of Science and ICT.
The Everyone's AI initiative aims to support citizens in accessing domestic AI models for free. Shinhan Card, in partnership with SK Telecom, will develop the 'Agent Pay' standard, allowing AI agents to manage everything from product recommendations to purchases and payments. The plan includes creating an integrated payment infrastructure that enables transactions without leaving the AI agent's chat interface.
Additionally, a compensation and dispute resolution system will be established to address potential issues arising from AI agent errors or system malfunctions.
A Shinhan Card representative stated, "As we enter the era of 'agentic commerce,' where AI directly participates in the payment process, the role of card companies in protecting customer assets will become increasingly important. We aim to collaborate with SK Telecom to establish AI payment standards and create a secure next-generation payment environment."
* This article has been translated by AI.
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