AvenuesAI launches agentic platform PayCentral for AI-driven payments
Fintech firm AvenuesAI has launched a payments platform named PayCentral, enabling AI agents to complete transactions autonomously without human initiation.
Indian fintech company AvenuesAI has introduced PayCentral, an agentic payments platform designed to allow artificial intelligence agents to execute transactions independently. The platform aims to streamline payment processes by removing the need for manual human intervention in each transaction.
"This platform allows AI agents to transact directly with one another without requiring a person to manually initiate every payment," stated Vishal Mehta, chairman and managing director of AvenuesAI, during the company's earnings call. AvenuesAI views AI as the next frontier in payments, intending to reduce friction between commercial intent and transaction completion.
The launch comes as India's Unified Payments Interface (UPI) network is reportedly developing a Unified Agent Protocol, which could permit AI agents to make payments. AvenuesAI's PayCentral is positioned to enhance merchant onboarding and is reportedly showing faster growth in international markets compared to India.
The platform facilitates communication between AI agents for tasks such as completing transactions, generating payment links, processing refunds, or managing subscriptions. This functionality differentiates it from some other agentic payment solutions that may require human oversight or operate within defined limitations.
Beyond payments, AvenuesAI is also developing on-premise AI solutions, including Small Language Models (SLMs), through its subsidiary PhroneticAI. This strategy focuses on keeping sensitive enterprise data within client infrastructures and expanding the company's offerings into enterprise AI solutions.