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 and SK Telecom will work together to create a standard specification for 'Agent Pay,' where an AI agent will manage everything from product recommendations to purchasing and payment. They plan to develop an integrated payment infrastructure that allows transactions to be completed without leaving the SK Telecom AI agent's chat interface.
Additionally, they will establish a compensation and dispute resolution system to address potential issues arising from AI agent errors or system malfunctions.
A Shinhan Card representative stated, "In 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 safe next-generation payment environment."
* This article has been translated by AI.
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