/PRNewswire/ –On April 2, a special taxi booking operation was successfully carried out in Hong Kong, China. After entering booking information into the AI assistant developed by technology company Evonet, the tester quickly received a list of available taxis and prices from ride-hailing platform Hoppa, as well as a recommended booking option.
As an international card system with a global presence, UnionPay has officially released the Agentic Payment Open Protocol (APOP) framework, its solution for agent-based payments leveraging the capabilities and neutrality of its platform.
Four essential capabilities underlying the trust mechanism and interaction model for agentic payments
The APOP framework aims to establish a unified trust mechanism and interaction paradigm. By connecting the different players in the agentic payments ecosystem through reliable routing, it allows an agent, a merchant, a financial institution and a compatible technology platform to integrate on a plug-and-play basis, then easily and securely participate in the complex processes of agentic payments. Specifically, the framework builds on four core capabilities.
First, it supports the management of the agent identity lifecycle, from registration and updating information to deregistration. Second, by providing end-to-end intent management covering generation, registration and verification, the APOP framework establishes a trust mechanism that places user intent at the center. Third, it helps streamline user identity management. The framework enables single sign-on (SSO) between participants such as agents, merchants and financial institutions, allowing credentials to be shared while maintaining privacy and security. Fourth, the APOP framework offers a comprehensive set of payment authorization services, including activation authentication for agentic payments, payment debit, and user consent verification.
Global industry players collaborate to create an open and secure agentic payment ecosystem
The APOP framework applies the principle of openness and interoperability. Leveraging UnionPay’s global acceptance network, it aims to develop industry-wide standards and create an inclusive framework enabling interoperability between institutions, platforms and use cases in mainland China and abroad.
In addition, four other fundamental principles feature prominently in the design of the APOP framework. First, compliance and controllability. Agentic payments must meet existing regulatory requirements, to ensure the business framework aligns with evolving regulatory trends. Second, security is a priority. Through agent identity verification and intent management, the framework ensures that agentic payment processes are understandable, traceable and can be fully reconstructed. Third, the greatest reliability. The framework has clearly defined the responsibilities, rights and risks of all stakeholders, to provide a solid basis for conflict resolution. Fourth, wide compatibility. Multiple access solutions are offered to enable participants to integrate into the ecosystem in a cost-effective and transparent manner, while maintaining a high level of scalability.
According to Dong Junfeng, Chairman of China UnionPay, the company will continue to uphold its vision of “Trusted Ties, Shared Success”, working closely with industry partners to actively seize the transformation opportunities brought by AI. By leading a joint effort, UnionPay aims to set new directions for agent payments that are secure, controllable, inclusive, efficient and characterized by global connectivity, elevating the payments industry to new heights in the AI era.