Sionic and Agentix partner on pay-by-bank tech

Deprecated: Creation of dynamic property SERPZILLA_context::$_page_obligatory_output is deprecated in /home/businesshouse/businessz.xyz/wp-content/uploads/.serpzilla/serpzilla.php on line 1654

Account-to-account payments are moving into a new phase through a partnership between Sionic, a bank-to-bank payments provider, and Agentix, a technology firm that builds AI-driven shopping agents.

How the system works

The collaboration lets an AI shopping agent complete payments directly from a user’s bank account using Sionic’s Bank Perks. This digital representation of a checking account is stored in Apple Wallet or Google Wallet. In physical stores, the system can create a one-time QR code or support tap-to-pay transactions.

Agentix supplies merchant inventories in a machine-readable format through its Agent to Agent service. Sionic’s AI agent uses this data to find products and finish transactions. While most agentic commerce services depend on credit cards, this system relies on Instant Bank Pay, which settles payments in seconds.

“At first, Instant Bank Pay and its Fraud Detection Service will be available as a software-as-a-service model through cloud partners,” said Ronald Herman, Sionic’s founder and CEO. “Shoppers can set up and customize their agent without waiting for bank or merchant approval.”

Fraud protection and cost structure

The Fraud Detection Service, created by Sionic and Google, reviews transactions in milliseconds before they reach payment networks. Users must confirm each purchase before the payment goes through.

The service costs nothing for consumers. Merchants pay a fee for instant cash deposits, which Herman said is usually 60% lower than credit card processing fees. The system is already operational, though its adoption will depend on how quickly merchants add it to their checkout processes.

Direct bank payments could change how online and in-store transactions work, especially as AI agents become more common in e-commerce. For now, it serves as an alternative to card networks, but the lower costs for merchants may speed up its growth.

Hussain Punjani, Agentix’s CEO, stated that the service will help merchants create a new revenue channel while giving them and financial institutions an edge. The partnership shows how payment providers are trying to avoid traditional card networks, though broad use will likely take time.

Using bank accounts instead of credit cards may attract consumers who avoid debt or prefer spending only available funds. Its success will also depend on how easily it fits into existing shopping habits and whether users trust AI agents with their money. The approach aligns with recent trends in the auto repair market, where similar payment models are gaining traction.

Sionic and Agentix designed the system to integrate smoothly with digital wallets.