Pine Labs and Google Cloud Partner to Expand Agentic Commerce

Fintech company Pine Labs announced on Thursday a partnership with Google Cloud to expand "agentic commerce," where AI agents perform product searches and purchases on behalf of users. This collaboration aims to assist both large enterprises and small and medium-sized businesses in adapting to future commerce landscapes where AI agents increasingly handle purchasing processes.

Pine Labs will utilize Google Cloud's Gemini AI to build tools for customer engagement, merchant payments, and operations. A key development includes an AI-powered ad agent designed to create and place advertisements across Google Search, YouTube, and Pine Labs' own point-of-sale systems. This agent is intended to help small businesses enhance customer reach without manual marketing efforts.

The company is also developing a multi-agent platform called "Jarvis," built on Gemini Enterprise. Jarvis will enable merchants to create programs, run system diagnostics, and manage customer support, including through the company's gift card platform.

Pine Labs emphasizes the need for merchants to adapt to these evolving technologies. This includes making product catalogs machine-readable, maintaining real-time inventory management, and enabling automated payment systems. The company is also developing the P3P payment protocol, which will facilitate payments within AI-driven commerce flows, initially via UPI and later expanding to other payment methods.

With AI agents projected to become mainstream by 2030, this partnership is positioned to help Indian merchants navigate the changing digital commerce environment and remain competitive.