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Hello everyone. I'm Allison,
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and I work on the agentic commerce product team.
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And I'm Marvin.
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I work with businesses as they explore agentic commerce solutions.
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Now, at this point of the day,
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you probably already know that AI is changing the way people are finding
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and buying products. Now, true story,
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I'm very lucky to be going on vacation to Spain next week.
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And normally I would spend a couple of weeks researching cities,
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building an itinerary,
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and spending way too long trying to figure out what to wear. This time,
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I used an LLM and in the matter of a few prompts,
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I had a multiday itinerary built for me,
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a packing list that even incorporated the latest weather forecasts,
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and it even gave me wardrobe suggestions, so I got a new dress for the occasion.
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For consumers, agentic commerce is here.
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People are discovering and finding new products and services via AI or agentic
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channels every day. But for many businesses,
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this still feels inaccessible. So today, we're here to change that.
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Over the next 30 minutes, we're going to cover three things. First,
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we'll look at where the industry's at today.
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Then we'll do a deep dive into the Agentic Commerce Suite for agents and
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businesses. And third,
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we'll have a panel discussion with three brands that are already building with
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the stack. Woo, Ashley Furniture and Tapestry,
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the company behind Coach and Kate Spade.
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Let's start with the industry landscape. At Stripe,
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we're very fortunate to have a front row seat across the entire ecosystem of
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players. We're working with buyers, agents, and sellers.
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And we observed a couple key learnings on each. Actually,
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we've seen it ourselves.
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Monthly Stripe sign-ups from users who've found us by agents have tripled over
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the past year. On the agent side,
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agentic commerce capabilities are getting embedded into more and more surfaces.
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LM chats, website assistants, agentic browsers, or even in-ad shopping.
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Some just focus on discovery and then redirect to a business side for checkout.
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However,
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many already start to experiment with embedding native checkout capabilities.
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Now on the seller side,
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we're seeing different levels of agentic activity vary by vertical. Now,
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taking a step back,
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we see agentic commerce as a spectrum between fully human-led buying and
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fully agent-led buying. Let's walk through my dress as an example.
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Level 1 is no more forms. I can tell the agent exactly what I want,
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and it buys it for me. Level 2 is descriptive search.
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I don't have to tell the agent what I want.
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I can actually just describe it and it'll recommend and buy something for me.
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Level 3 is persistent memory.
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The agent knows my preferences and can actually recommend products based on
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that.
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Delegating decisions means I can actually just give the agent a budget and it
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can execute the task end to end. And Level 5,
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invisible anticipation. Weeks before my trip,
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a dress shows up magically on my doorstep,
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and it's because the agent knows I needed it and knows that I would like the
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dress. If some of these feel far-fetched to you today,
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that's because most consumer use cases are largely still at Levels 1 and 2,
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but we're already starting to see B2B software use cases emerge at Levels 3
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and 4.
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The industry is evolving quickly and it varies by vertical.
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And so what does this mean for you? You need a tech stack that evolves with it.
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That's why Stripe is building the Agentic Commerce Suite or ACS.
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It allows to connect buyers, agents,
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and sellers on any surface with minimal effort.
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For sellers,
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it gives you the ability to sell via multiple channels with a single
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integration. On the agent side,
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it gives you the ability to embed native checkout capabilities,
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allowing customers to convert directly within the surface.
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ACS solves for agentic needs across the transaction lifecycle. Discovery,
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checkout, fraud, and of course, agentic payments. So let's walk through each.
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Let's start with discovery. Since before any transaction can take place,
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your agent needs to know what products to sell and when to recommend them.
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That's why product catalog data is so important.
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Humans can look at a dress on the left and assume it's black, it's loose,
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it's probably good for warm weather.
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But agents perform best when they interpret data, not visuals.
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They'll see the data on the right and their knowledge is only as good as the
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quality of the catalog behind it. Now,
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the challenge is that data is often messy or even incomplete.
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Catalogs have different fields, different attributes, and different formats,
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and agents use different specs to interpret it.
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ACS simplifies this complexity.
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Sellers can upload a single catalog that can be distributed to any ACS agent.
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We make this as easy as possible. You can upload a CSV, use our Import API,
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or coming soon,
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connect your commerce platform or catalog syndication partner directly.
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And as you can see on the screen,
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ACS can translate a single field like description into any agent's
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preferred format. Marvin's going to show us what this looks like.
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Let's say I'm a business owner of Gaultee, a company selling outdoor equipment.
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And right now I'm looking at my Stripe Dashboard,
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specifically the Agentic commerce tab. And as you can see,
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I'm already selling via agentic channels. In this case, Elementara,
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our demo agent for today. And there are two things I want to do. First,
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I want to request access to a new agent,
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and I want to take a look at the feed and make sure it's still up to date.
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So I really want to sell via Copilot,
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and because I've already prefilled all my profile information,
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I can request access with the single click of a button.
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And now I'm just waiting for the Copilot team to approve my application.
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Let's take a look at the feed.
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It seems like we are right now not sending the information for our latest tents
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and backpack yet. So let's change that.
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I'm switching over to a feed tap and click upload CSV.
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Select the latest file and upload.
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As you can see, I can manually upload the catalog via the Dashboard.
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We also support SFTP and as of today, the API.
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Once the product catalog is updated,
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all the agents that I have enabled will automatically receive the updates and
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will be able to show the latest product information.
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So let's switch over to Elementara and make sure it actually shows up.
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So let me look for the latest products.
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Please.
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So nice.
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And here we go.
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The backpack intent now show up all with information that you as the merchant
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provide. So product description, pricing, even the imagery.
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That's all information you provide and you're not reliant on the agent scraping
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your website for the most up-to-date information. Back to you, Allison.
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Now, once your products are discoverable, the next step is checkout.
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Now we see a future where more and more checkouts are shifting from a seller's
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site to an agent's interface.
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ACS provides agents with the delegated checkout API,
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which embeds checkout natively within your own product experience.
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It's built upon Stripe Checkout elements,
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which leverages over a decade plus of experience optimizing checkouts for buyer
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conversion because we know that matters. Now, importantly,
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sellers still get to retain control where it matters.
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Sellers remain the merchant of record. They control the shipping and tax logic.
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They own the order fulfillment and management,
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and of course they select payment method options shown at
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checkout. In fact,
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ACS dynamically shows these payment methods, again,
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optimizing for buyer conversion. And today,
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ACS supports all major card types and their agentic network tokens,
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including Visa, Mastercard, and American Express. Buy now,
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pay later platforms like Klarna and Affirm, wallets like Apple Pay and GPay,
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and of course, one click checkout with Link.
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Doing the checkout, all the important information like pricing, availability,
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and shipping fees is shared directly between the agent and the seller.
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So let's see that in action. Allison,
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I think we should buy something from Galtee. What do you think we should buy?
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I could do some camping. Let's do yellow tent. Go.
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Go with the tent. When I click buy,
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the agent is now going to render a payment sheet. And as you can see,
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I can, as a customer, select my preferred payment method.
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It's important to note that the seller ultimately has control over which payment
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methods actually show up. So the agent technically needs to support them,
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but then you can configure in your dashboard your preferred settings for your
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agentic to checkout.
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All the information that's shared in the checkout form is now real time between
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agent and seller. So when I update my shipping information,
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that's an update that's immediately communicated to the seller so they have the
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latest information.
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We can see the total is now updated and because my information is prefilled,
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I can pay Galtee with a single click.
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Galtee remains the merchant of record for this transaction.
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So I purchase in Elementara, but thanks to the dedicated checkout API,
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the merchant itself retains full control and the agent
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now is just responsible for displaying the right surface. Over to you, Allison.
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Looks like I have to go camping in Spain then. Now,
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once the buyer finishes checkout or completes checkout,
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our fraud and payment systems get to work under the hood. Now,
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in traditional payments,
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a seller collects the buyer's payment information and processes that payment.
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But with the agentic payments,
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the agent collects the buyer's payment information,
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but the seller still processes that payment, not the agent.
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That's why ACS is built on our new payment primitive, the Shared Payment Token.
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SPTs manage that handoff of payment credentials between agent and seller,
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and it doesn't just pass the payment credential.
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It actually helps control how that payment credential is used.
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It can be scoped to a specific seller, a specific time duration,
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and a specific amount. Now, we love our agents,
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but we don't want them to go rogue with our money.
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So let's look at how SPTs are used as part of an agentic payment.
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First, when the buyer submits the payment information,
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the agent can create the payment method.
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Once the payment method is created, the agent can create the SPT,
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and you can think about the SPT as an object that's basically permissioning
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access to the underlying payment method.
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Once the SPT is created, the agent can send it to the seller.
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If Radar is used, additional fraud signals can be included in the SPT.
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Now, on the seller side,
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the seller can decide if they want to approve or decline the transaction.
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If they approve the transaction,
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they can create the Payment Intent and charge the underlying payment method
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without ever actually seeing it.
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This is all natively built into our processing solutions,
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and if Radar is used,
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businesses can get access to a built-in fraud prevention trend on Stripe's
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overall transaction data.
The good news is that so far,
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we haven't seen any material increase in fraud when it comes to agentic
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channels. In part,
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that's because humans are still in the loop for a lot of these flows. However,
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the steps that you've seen outlined as part of this process really allows to
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future-proof the stack so that we can prevent any new fraud patterns that might
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arise in the future.
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So that's the Agentic Commerce Suite in a nutshell.
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Now let's spend a minute on what this means for you.
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Now we're very fortunate to be building our agentic commerce products alongside
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highly innovative partners across both agents and sellers.
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Now we're already working with many agents to bring these new commerce
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experiences to life from AI leaders like OpenAI, Google, Meta,
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and Microsoft, to even newer startups like Wizard, an AI native shopping agent.
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Now, starting today,
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we're excited to say that all US businesses looking to embed commerce
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capabilities into their own product experiences can sign up for access via their
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Stripe Dashboard.
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And industry-leading retail brands like Etsy, Best Buy, Fanatics, or Quince,
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and many more are already integrating with ACS. Similar to agents,
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ACS is now available for US sellers via the Dashboard,
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so you can configure checkout settings and upload your product catalog.
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Once you've completed those steps,
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you can join an agent's waitlist and connect directly as they become more
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broadly available.
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Now let's hear from the people who are actually building these integrations
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themselves. Join me in welcoming to the stage, Beau from Woo,
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Kyle from Ashley Furniture, and Mandeep from Tapestry.
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Great. Thank you all for being here today. Let's dive right in.
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Kyle, I'm going to start with you in the middle.
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Ashley Furniture is an 81-year-old company,
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yet you guys have been a pioneer in AI and agentic commerce.
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What kicked off the investment at Ashley and what's the broader strategy or
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vision?
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Sure.
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I'm pretty confident in saying there's absolutely no one that's in this room
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that thought,
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"I wonder what's happening with agentic commerce?" So let me go look at an
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80-year-old company in the furniture vertical based out of Arcadia,
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Wisconsin. If you did, I'm not calling you a liar,
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but I would say you're probably stretching the truth. However,
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our founder has a saying, "Don't belong for the ride." And by that,
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he means companies get successful and they rest on their laurels and that
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slowly degrades their business.
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And his view is you always have to meet the consumer where
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they want to shop, not the easy path that we want to take.
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And that has guided our company from the time that this company was founded.
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I'm going to humbly, but not really humbly brag,
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that Furniture Today publishes a list of the top 100 furniture
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companies and they've been doing it for a number of years.
Ashley Furniture has
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been number one on that list for 16 consecutive years.
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And the reason why we are is because of that mantra.
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It's a relentless pursuit of excellence in meeting our
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consumers where we are. And the final thing I would say on it,
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and I was asked at lunchtime today, knowing everything that I know now,
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would we have jumped into it as quickly as we did a few months ago?
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My answer to that is absolutely unequivocally yes.
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We walked into this knowing that most people are probably not going to buy a
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$6,000 sectional using an LLM or this early in the
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lifecycle. We knew that.
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And I probably should tell you the results reflect that.
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We haven't sold a ton even though we were live by Black Friday,
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but the learnings that we're taking out of this are absolutely critical and
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phenomenal for us so that ultimately we can continue to not be
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along for the ride and be able to meet our consumers where they want to be met
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when they're ready to start buying furniture.
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I love that. I love that. And Beau, switching to you,
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so Woo is actually an ecommerce platform.
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You guys work with thousands of merchants across product types,
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cross verticals, and a lot are actually SMBs.
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So same question to you.
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What really kicked off the investment there and what are you hearing from your
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merchants, particularly the SMBs?
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Yeah. So for us as a platform,
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we sort of see it as our responsibility to enable our merchants to be where
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their customers are, to run their businesses effectively.
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And so we're always keeping an eye out on,
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what do we need to do to support that?
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And we obviously have been keeping track of agentic commerce as this sort of
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emerging trend and hearing a lot from our merchants saying,
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"How do we get on this? What does this mean for us?
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How do we participate in this?" And so we knew that we had to get involved there
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and actually enable them.
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They're looking to us to provide the solutions so that they can get access to
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this new distribution and sales channel. And from their perspective,
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the biggest thing we're hearing initially is they're seeing some of their
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organic traffic disappear because it's shifting to LLMs.
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And so they're wondering, well,
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how do we either get that back or be a part of where it is now?
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So that sort of discovery and distribution mechanism is really important for
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them. And as their platform provider,
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we're sort of in the position to say, "Well,
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here are all of the emerging protocols.
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Here are the systems that you need to be a part of.
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" And we can set that up in a way that they can just hit a button and turn it
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on.
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I'm hearing this theme of "meet the consumers where they are." So Mandeep,
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I want to actually move to you and in the spirit of that,
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so let's talk about brand. You want to meet consumers where [they] are,
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but inevitably there's also some risk in not being able to control the surface
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that they are seeing.
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So how do you preserve brand identity in a world of agentic commerce?
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Okay. Well, I'm going to make an assumption.
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How many of you here are wearing a Tabby bag or a Brooklyn bag or a
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Coach or a Duo bag? If you are, you're one of my favorite people,
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those are our brands. You know them, Coach and Kate Spade.
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So I think in this agentic world,
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standing out,
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telling your story is going to become even more important.
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I do not believe that people are just going to buy
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a Tabby or a $400 bag just by looking
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at it on an LLM. They want to go...
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And there is a much richer story that brands need to tell.
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So my take is it becomes even more important. Now,
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we are very consumer obsessed.
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So we believe if you are one of them who wants to buy on one click,
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then we want to be there for you. And that is what customer obsession means.
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Great. And speaking of brands, Kyle, I want to come back to you for a second.
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Again, Ashley is a furniture brand,
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which is a very different buying experience than let's say a handbag.
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How do you think about the products and SKUs that are the best fit for
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agentech commerce? Are all products and SKUs a good fit?
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You've got to look at it through a couple of different lenses because it's not
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one-size-fits-all. First of all,
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you got to look at where we are in time with agentic commerce,
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particularly for us from furniture perspective. As I said earlier,
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no one's probably right now going to buy a $6,000 sectional just with the
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state of how an LLM transaction goes down.
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So when we looked at what we wanted to go forward with,
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we went for smaller AOV items,
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more consumables that the consumer would be interested in,
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and we wanted to see what the reaction would be and whether or not they would
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transact. And they have for the smaller dollar ones.
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The other lens though of where we are today is you got to look at this from a
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product discovery perspective, and that was already mentioned.
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The referral traffic that we're seeing on the website is through the roof.
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And so even though from a transactional perspective,
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we were looking at an assortment that was somewhat stripped down and a little
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bit cheaper.
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That doesn't mean you can stop paying attention to the overall assortment that
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you have because you have to make sure that it's discoverable. If not,
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you're going to be left behind.
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And then when you go forward in time where we think agentic commerce is going,
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that's where we're going to start to hit the sweet spot for people like us in
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that there will be additional tools that will complement the LLM and be built
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into them. So things like a room builder.
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I want to upload a picture of my living room and now I want to see what a
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couch looks like inside that living room.
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Then we can start to see where people will become more and more and more
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comfortable.
They'll either purchase it there or it may even be a tool to get
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them into one of our brick-and-mortar stores across the nation. So either way,
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there's a little bit more that has to happen for a retailer like us
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before agentic commerce truly unlocks its full potential.
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I love that learning because I think it's a good reminder that you
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even, I should say, especially in the early days,
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you don't have to start with the full catalog.
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You can definitely start with the pieces that make the most sense. Now,
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Beau, I want to go to you. We've talked a little bit about discovery,
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but of course there's the full transaction lifecycle. So how do you think about,
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what are the technical or most challenging technical pieces of agentic commerce
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and how do you think about where to allocate your valuable technical resources
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versus maybe partnering with a third party?
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Well, so we do a lot of partnering, including with Stripe and-.
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That was a little bit of layup.
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Yeah, a little bit.
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And obviously Stripe is sort of very central to parts of the actual
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transaction process in particular. So a lot of those,
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I think that's actually some of the gnarliest technical pieces of exactly how do
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we navigate these transactions. There's,
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I think things like Kyle mentioned,
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the catalog and ingestion of all of the product attributes and that sort of
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thing. That's not particularly complex, frankly.
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It's like a scale challenge,
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but we've been doing all sorts of content syndication and things like that for
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decades on the web at this point.
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I think what's uniquely difficult there is just how real-time it needs to be.
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So it's one thing to ingest the full catalog or even a partial catalog of a
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complex merchant, but if you go search in an LLM today,
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you'll find a lot of content or catalog materials that's actually two,
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three years old.
And so then when it comes time to go to an actual purchase,
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that doesn't cut it. In fact,
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down to the second might not cut it if there's a flash sale or inventory update
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or something like that. So getting that real actual live data,
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I think is the unique part of the technical challenge there.
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And then all the way through on the other end,
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I think agentic commerce opens up all sorts of new and different attack
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vectors and fraud vectors that are going to be, again,
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probably not uniquely technically challenging,
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but at a different scale and a different velocity than we've really seen before.
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Absolutely. Now, Mandeep, I want to flip to you.
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Let's have a little bit of real talk.
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You guys have been hearing about agentic commerce all day at Sessions,
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but there's other people, I'm not saying anyone in this room,
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who are saying it's overhyped. What do you have to say about that?
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Is agentic commerce overhyped?
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No, I think again, if you are consumer obsessed,
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if consumer, you want to be where the consumer is. I mean,
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900 million weekly active users for ChatGPT and other
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LLM engines, I mean, is that hype? That is something that you decide.
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So you have to be, like I said, where your customers are.
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Discovery is the starting point, right? And it was mentioned here,
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if they want to research about your product,
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then you need to have that data that there was a slide here
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where you showed this is what agent sees. So no,
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it's not hype because that's where they are researching, right?
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A simple tip for you, if you want to know more about yourself,
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go to ChatGPT and tell me, ask it, tell me about myself,
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the brutal truths based on everything that I've worked with you. I did it,
401
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I didn't like it, but anyway, that was aside.
Coming back to it,
402
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but people are using it.
403
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People do want to discover products and so on and so forth. And from there,
404
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we don't believe it's a hype. In fact, if you want to buy a Mother's Day gift,
405
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we just launched our gift concierge on Kate Spade site.
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So if you go to katespade.com or katespadeoutlet.com and on the hamburger menu,
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you can find the gift concierge because we believe,
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I believe that's how people are going to shop.
409
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It's going to go from keyword-based to conversation-based.
410
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You guys talked about how it'll be more personalized. So no,
411
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it's not a hype. I think it's real.
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And Beau, I actually want to come back to you for a second.
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Along those lines, let's talk about some risks.
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What worries you the most about the future of agentic commerce,
415
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particularly again as a platform,
416
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but also on behalf of the long tail of merchants you represent?
417
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Yeah. So I mentioned fraud. I think that's a pretty obvious risk. As a platform,
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we've had completely open APIs and we give our merchants a lot of access to
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all of their data, all of their customization and everything.
420
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And something that we stayed away from historically is
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APIs that enable actual transactions.
422
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And it was always because the technology wasn't really there,
423
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but also because there was this sort of known potential vulnerability there
424
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or potential security risk.
425
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So I think that's probably the big one that stands out as a platform of like,
426
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"Hey, as an industry,
427
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we need to make sure that this is all super secure and that that doesn't get in
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the way of the experiences that we're trying to create." And then on behalf of
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the merchants,
430
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I would actually say we've talked a little bit about sort of brand,
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voice and representation of the merchant.
And I have a lot of our
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merchants, actually most of our merchants,
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they choose our platform because it's customizable,
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because they can really choose how they portray themselves on the web.
435
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And I fear that we lose some of that as we switch to these agentic transactions
436
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and agentic experiences and everything becomes kind of commodified down to just
437
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"ask a question,
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perform a transaction." And I think that's ultimately not good for merchants.
439
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They might sell some things,
440
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and that's great for some folks who are selling like commodity goods,
441
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but we have merchants who are selling really unique, interesting,
442
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bespoke products. They're often very niche.
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A part of their whole sort of modus operandi is having a really
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loud brand voice and that gets diluted in this environment.
445
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I think it comes back to something Mandeep was saying earlier just around brand
446
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and identity. It's beyond just the surface that you're going to see it now.
447
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It's really about a holistic consumer experience in and off that platform.
448
00:28:04.490 --> 00:28:05.450
Yeah.
449
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Okay. We have a couple minutes left.
450
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So I wanted to end with a couple fun rapid fire questions.
451
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So maybe we'll start with you Mandeep and just work our way down the line.
452
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Based on your experience,
453
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what's your best piece of advice for a new seller and the audience looking to
454
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start with agentic commerce?
455
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I think, find a partner like Stripe.
456
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I didn't plant that.
457
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No, on a serious note though,
458
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I think you need someone when we started partnering with them,
459
00:28:40.070 --> 00:28:43.110
it was like how quickly they built this product,
460
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how quickly they innovated with us. I think there is something to it.
461
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So find partners who can bring that innovation to you.
462
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Love it. Kyle?
463
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I would say from a piece-of-advice perspective,
464
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understand as you go forward in an agentic world,
465
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the normal ecomm levers of conversion-AOV,
466
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traffic-are really starting to change.
467
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Traffic is going to be more curated, but it'll be less.
468
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There are going to be differences on AOV because the agent is probably going to
469
00:29:16.970 --> 00:29:20.870
try and take apart your bundles and the promos are going to be a little bit
470
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different. You still have levers to pull,
471
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but just recognize some of the business landscape that you're used to today to
472
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drive your ecomm business is going to change and the sooner you get in to
473
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understand that, the better off you're going to be.
474
00:29:36.190 --> 00:29:40.310
I would say definitely get in there soon and use these tools,
475
00:29:40.390 --> 00:29:43.870
understand how they work, experience AI for yourself.
476
00:29:44.810 --> 00:29:49.310
And I'd say don't be scared of this as something that's
477
00:29:49.370 --> 00:29:51.510
completely alien or completely new.
478
00:29:52.310 --> 00:29:56.190
I think a relatively simplistic way of looking at it is this is just another
479
00:29:56.270 --> 00:30:00.570
channel. Yes, it's a different channel. Yes, some of the dynamic are different,
480
00:30:01.030 --> 00:30:01.870
but it's just another channel.
481
00:30:02.490 --> 00:30:05.570
And so just think about it as a new way to sell your products.
482
00:30:06.310 --> 00:30:07.270
What do they need to look like?
483
00:30:07.330 --> 00:30:09.090
How do they need to be distributed into this channel?
484
00:30:09.730 --> 00:30:11.870
And what are the sort of purchasing dynamics that happen there?
485
00:30:12.250 --> 00:30:15.350
Great. Okay. Last question. One-word answers.
486
00:30:16.230 --> 00:30:17.990
What's one product or service?
487
00:30:18.050 --> 00:30:21.190
What's the one product or service you're most excited to buy agentically?
488
00:30:23.090 --> 00:30:23.923
Our own product.
489
00:30:27.230 --> 00:30:28.090
Always be selling.
490
00:30:28.250 --> 00:30:30.670
The Empire bag. That's what I'm looking forward to buying.
491
00:30:32.310 --> 00:30:35.890
Okay. For me, I like to think that I'm an attentive husband,
492
00:30:36.410 --> 00:30:40.790
but every time my wife has a birthday, Christmas, anniversary,
493
00:30:41.070 --> 00:30:44.390
I twist myself into knots to try and figure out what to buy her.
494
00:30:45.050 --> 00:30:49.860
My agent today is my 16-year-old daughter. She gives me some advice,
495
00:30:49.940 --> 00:30:54.240
but she always somehow manages to rat me out that that was my idea.
496
00:30:54.800 --> 00:30:57.940
I am looking forward to an agent that will never miss a birthday,
497
00:30:58.120 --> 00:31:02.820
will never miss an anniversary and knows what my wife wants and can scour the
498
00:31:02.860 --> 00:31:03.720
world to find it.
499
00:31:07.740 --> 00:31:08.900
I'm a lover of cocktails,
500
00:31:09.160 --> 00:31:13.620
so I'm looking forward to having an agent that can find me obscure Italian amari
501
00:31:14.200 --> 00:31:16.620
and basically just get them for me on a subscription.
502
00:31:17.400 --> 00:31:21.320
I love it. Thank you guys so much for being with us today.
503
00:31:21.400 --> 00:31:22.000
Thank you.
504
00:31:22.000 --> 00:31:24.430
To everyone else, thank you for joining. We'll see you around.