Hi Friends,
Back in January 2017, when BHIM was just launched and mobile wallets were still
in their early days, I wrote a blog post titled "A Matter of Time". In it, I
predicted that mobile wallets would evolve with intelligent algorithms capable of
automatically moving funds across bank accounts to chase the best yields, much
like high-frequency algo-trading in the stock market.
Here is the exact excerpt from my 2017 post that feels incredibly timely today:
"So, just wait to find out which Mobile Wallet comes up with the
following 'innovations' FIRST:
Wallet based algorithm will move funds across different bank accounts
for best yield, constantly searching for best interest rates offered by
banks on Fixed Deposits.
This will happen automatically, much like algorithm-based share trading,
taking advantage of price differences...
No rocket science here considering availability of 'BEST PRICE' apps for
thousands of goods and services.
And since computing power of mobiles are doubling every 18 months
(Moore's Law), nothing will stop algo-trading through a Mobile Wallet, as well!"
Fast forward to June 2026 — and we are already seeing the next leap.
According to a recent report in The Times of India, Pine Labs has launched
India’s first agent-to-agent payment capability using an extension of UPI’s
standing mandate framework.
This allows AI agents to autonomously decide when to strike deals and execute
payments based on predefined conditions — without needing repeated human
authentication.
Key highlights from the article:
- Users can authorize a one-time mandate that is delegated to an AI agent.
- The agent can monitor prices (e.g., buy gold when it falls to a target level, or electronics at Vijay Sales when the price hits your set target).
- It builds on UPI mandates to enable “agentic commerce” — where AI agents can browse, negotiate, and pay on behalf of users.
- Controls include spending limits, identity verification, and audit trails.
This is precisely the kind of intelligent, automated financial decision-making I
envisioned in 2017 — just applied even more powerfully through AI agents
rather than simple rule-based algorithms.
What started as predictions around mobile wallets optimizing Fixed Deposit yields
and chasing best prices has now evolved into full-fledged autonomous AI
agents handling negotiations and timed executions via UPI.
We are witnessing the convergence of:
- UPI’s robust infrastructure
- AI’s decision-making capabilities
- Standing mandates that remove friction
The future I hinted at — where your digital wallet (or now, your AI agent)
constantly works in the background to get you the best deals and yields — is no
longer science fiction. It’s here.
The party that fully integrates these AI agents into everyday wallets first
will be the clear winner. The rest will play catch-up.
I invite you to read my original 2017 post here:
It’s fascinating how quickly “a matter of time” turns into “it’s happening now.”
What do you think?
Will we soon see AI agents managing our entire savings and
investment portfolios via UPI mandates? Drop your thoughts in the comments.
With regards,
Hemen Parekh
(P.S. You can also chat with my Digital Avatar at www.hemenparekh.ai)
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