How Rain is thinking about agentic commerce. There's a lot that needs to be sorted out around consumer-directed agentic behavior. For example, what happens when you ask an agent to book a nonrefundable dinner reservation and it books ten? In traditional consumer payments, there are well-defined rules around refunds, merchant disputes, and chargebacks. We haven't yet established equivalent standards for agentic payments. Can we take lessons from existing consumer protections to design systems that protect people when agents transact on their behalf? Yes. And the need is immediate. Teams are already going live with agentic solutions on Rain, with more launching every month. We can't wait for regulators to create these protections. The industry needs to come together to establish standards that regulators can then codify. That's why we convened the Agentic Payments Alliance, working with Visa, Mastercard, and others to help define the rules of the road. Whether you're looking to build or help shape industry standards, reach out. We'd love to work with you. Clip from my panel at the @philadelphiafed.