Episode 88

Agentic Commerce: Who's Actually Liable? | Global Payments

What does it actually mean when an AI agent completes a purchase on your behalf? I sit down with Anatole Baboukhian, Executive Lead, Corporate Responsibility & Strategic Advocacy, and Lucy Anderson, Head of Asia Solutions, SMB Product; colleagues at Global Payments on opposite sides of the business, policy and product. We start with a plain english definition of agentic commerce and where it fundamentally changes from how we pay today. From there we talk through consent, trust, and the liability question every fintech founder needs an answer to before they build. We had a ton of fun, talk about Taylor Swift and bill payments!

What you’ll learn:

  • Agentic commerce splits into two models: instructed vs. fully autonomous
  • KYB still isn't solved. KYA (Know Your Agent) is next, and it's harder: identity, mandate, scope
  • Liability isn't one framework: it depends where in the chain the failure happens
  • Boring, high-friction use cases (utility switching, ticket buying) will win before exciting ones (travel)
  • Why Marketing is about to need a second audience: agents, not just people

TIMESTAMPS

00:00 – What agentic commerce actually means

01:27 – The two use cases nobody separates

07:19 – What regulators are really asking

09:32 – KYC → KYB → KYA: the trust gap nobody's closed

16:42 – The three-layer KYA framework: identity, mandate, scope

18:44 – Why the "boring" use cases will win first

21:49 – Taylor Swift tickets vs. switching your utility provider

26:15 – Marketing to agents, not people

28:43 – Fraud, inclusion, and vulnerable consumers

32:38 – Liability: why there's no single framework

44:18 – Who will actually build these agents

49:25 – The one piece of advice for every fintech founder

👉 Connect with Lucy and Anatole:

LinkedIn: https://www.linkedin.com/in/anatole-baboukhian/

LinkedIn: https://www.linkedin.com/in/lucykanderson/

👉 Connect with Monica:

LinkedIn: https://www.linkedin.com/in/monicamillares/

Website: https://fintech-product-ai-lab.lovable.app/

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.

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About your host

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Monica Millares

Monica advocates for financial safety for all. She is the Product Principal at BigPay, where she leads Product and Design. As part of the founding team, Monica led building BigPay’s product from zero to one, to multi product line, and international expansion. Her leadership shaped the culture and ways of working to grow from startup to scaleup. BigPay has over 1.4 million customers, and has presence in Malaysia, Singapore and Thailand.

Monica has almost 20 years’ experience in Financial Services. Prior to BigPay, she was one of the first joiners in UK’s challenger Tandem Bank, where she focused on building credit cards from scratch. Previously she worked in leading Financial Services brands like Visa, Barclays, and a Mexican Development Bank.

She sits on the Board of PayEd, and is recognised as Singapore’s #Fintech65 Product Leaders and Women in FinTech. She’s been multiple times speaker at the prestigious conference Money2020 and shared stage with JP Morgan, Standard Chartered Bank, Konsentus, and Money2020’s Rise Up. Her commitment to innovation and financial inclusion resonates in her podcast “Purpose Driven FinTech” where she explores how FinTech’s can have 10x more impact.

Monica has a background in Engineering and a Master’s Degree on Analysis, Design, and Management of Information Systems from the London School of Economics.