Stock Markets August 13, 2026 05:06 AM

Merchants Move to Guard Customer Loyalty as AI Chatbots Begin Steering Purchases, Adyen Says

Payments firm rolls out enterprise tools and boosts retention capabilities as AI agents threaten to reroute consumer relationships

By Derek Hwang
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Adyen warns that the rise of AI-powered shopping assistants could displace merchants in the customer journey, prompting retailers to strengthen direct ties with buyers. The payments processor is expanding its platform, acquiring loyalty and billing software, and shifting capital spending to support increased infrastructure needs tied to AI-driven commerce.

Merchants Move to Guard Customer Loyalty as AI Chatbots Begin Steering Purchases, Adyen Says
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Key Points

  • AI chatbots are starting to handle product recommendations, merchant selection and payments, raising concerns among retailers about losing direct customer relationships and repeat business - affecting retail and payments sectors.
  • Adyen has launched a platform for enterprise merchants and AI-agent payments and acquired loyalty firm Talon.One and billing provider Orb to strengthen retention-focused services - impacting payments infrastructure and enterprise SaaS markets.
  • Adyen is accelerating capital expenditure on computing and storage capacity because of higher prices and supply constraints, with about two-thirds of capex directed to private cloud systems that run core services - relevant to cloud infrastructure and payments operations.

Payments firm Adyen is urging merchants to reinforce direct customer relationships as AI chatbots increasingly handle core parts of the shopping experience, potentially hollowing out retailers' direct access to repeat buyers, company co-CEO Pieter van der Does said on Thursday.

Historically, customers have themselves initiated product searches, logged into retailer websites or apps, and completed transactions through merchants' channels. Van der Does described a scenario in which AI shopping assistants could assume that sequence - recommending items, selecting merchants and even triggering payments independently - which would reduce the role of retailers in the buyer-seller link.

Van der Does recounted a conversation with a merchant this week that still receives 70% of its sales through direct channels and is intent on preserving that share as shoppers increasingly start their searches via chatbot interfaces. "Loyalty becomes way more important," he said, stressing that merchants are watching for any loss of customer connection as large language models and AI agents gain prominence.


To respond to this shift, Adyen has developed a new platform aimed at enterprise merchants and payments initiated by AI agents. The company processes payments for high-end retailers including Herme8s and Hugo Boss, and has recently moved to bolster its retention and billing offerings through strategic acquisitions - buying loyalty software specialist Talon.One and billing provider Orb.

These moves are intended to provide merchants with stronger tools to retain customers and to adapt to commercial models being introduced by AI software providers, which may charge on a usage basis rather than via fixed subscriptions. "AI is really impacting our merchants," van der Does said. He framed Adyen's role as extending beyond payment processing to helping merchants maintain direct links to customers so they are not disintermediated or reduced to demand that originates solely through language models.


Market analysts took note of Adyen's traction with AI customers. JPMorgan said the company's signing of OpenAI as a customer, mentioned in its half-year update, was an unexpected positive that indicated Adyen is gaining ground among AI firms.

AI is also changing the infrastructure demands on payments providers. Adyen said it will bring forward planned spending on computing and storage capacity from next year due to higher prices and supply constraints. Van der Does noted that roughly two-thirds of the company's capital expenditures are allocated to private cloud systems that run its core services.


As merchants adjust to AI-driven discovery and purchasing, Adyen is positioning itself to offer an expanded set of tools centered on loyalty, billing and enterprise-grade support for AI-agent payments. The company's actions reflect an expectation that retailers will seek technology partners to preserve direct customer engagement as the commerce landscape evolves.

Risks

  • Merchants risk disintermediation if AI agents begin to control product discovery and completing transactions, which would affect retail revenues and loyalty programs - a risk for retailers and payments providers dependent on direct channels.
  • Rising infrastructure costs and supply constraints are forcing Adyen to advance spending on computing and storage, introducing execution and cost pressures on the payments provider - a risk to the financial and operations planning of payments companies.
  • Changes in commercial models from AI software providers - such as shifting from fixed subscriptions to usage-based fees - could alter merchant cost structures and the economics of customer acquisition and retention - a risk for retail margins and SaaS business models.

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