The benefit of that approach, he said, is that Cap One has agreed to extend its commitment with Mastercard for its credit card portfolio. “It’s a strong signal the Mastercard network is valued [as] we continue to invest in the network,” Miebach said. Agentic commerce, on the other hand, involves technology that could soon benefit consumers in a big way, Miebach argues, by enabling faster and more targeted commerce. “It’s hard to predict how this is going scale, but that [agentic commerce] train is leaving the station,” Miebach predicted. In the U.S. market, volume totaled $825 billion ($438 billion credit and prepaid), up 4%.