EXCLUSIVE: 'We're Flying Without A Plane' — Mastercard's Warning On AI Chaos In Real-Time Payments

Benzinga_recent_news11-13

The digital payments boom is moving at lightning speed — and Mastercard Inc (NYSE:MA) says security hasn't kept up.At the Benzinga Fintech Day & Awards 2025, Jelena Hoffart, Director of Identity Value...

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We're flying without a plane,\" she said.\nConsumers now expect instant transactions through PayPal Holdings Inc‘s (NASDAQ:PYPL) PayPal, and Block Inc‘s (NYSE:XYZ) Cash App. But Hoffart cautioned that the industry hasn't built the real-time verification systems needed to secure those transfers. \"While we can kind of move money in real time… we do not have the infrastructure to verify consumers — let alone agents — in real time,\" she said.\nThat gap between transaction speed and authentication could open the door to AI-powered fraud, especially as digital agents start handling payments, logins, and charge disputes autonomously.\nRead Also: PayPal CEO Says Gen Z Is Ditching Credit Cards — And He’s Cashing In\nAs AI agents begin conducting financial activity on behalf of humans, Mastercard's challenge is verifying not only users, but also their bots. \"We have to go from a world where we're not only understanding who the human is… but making sure the bot's not co-opted,\" Hoffart said.\nFor investors, the takeaway is clear: fintech's next growth wave depends on identity innovation catching up with AI automation. Companies that solve for proof of humanness — and rebuild real-time verification — could define the next leg of the digital payments story.\nRead Next: \nPhoto courtesy of Corynn Egreczky.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.10","shortVersion":"4.35.10","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2583307233","isCrawlerRequest":true}