Securing Payments and Agentic Commerce with Colin Luce

Whenever my mum comes to the US and we go to a restaurant, she never lets her credit card out of her sight - insisting on following the waiter all the way to the register.

They always look baffled, but she might actually be onto something! In-person fraud rates in the US are much higher than in Europe.

Why is card fraud so prevalent?
We share our 16-digit card numbers everywhere - is that safe?
How do merchants actually protect this data?

To dig into all of this, I spoke to Colin Luce, CEO at Basis Theory, and it turns out there's a quiet power struggle happening.

Visa and MasterCard want merchants to rely on their tokens and delete the original card data.

Merchants don't trust what comes next.

Once you give up that data, you can't switch processors, you can't negotiate, you take whatever pricing the networks decide.

We also discussed in the podcast:

- Why agentic commerce isn't really a payments revolution
- Why MasterCard are getting rid of the PAN
- Whether consumers care about card fraud
- How your Stripe token is useless with Adyen