Shares dropped after Citrini Research published a thought experiment, but the Kobeissi Letter argues the outlook may be too pessimistic.<\/p>\n
Shares of major credit card companies fell on Monday, Feb. 23, after a thought experiment report from Citrini Research raised concerns about how artificial intelligence (AI) could change the payments industry \u2013 however, a separate note from The Kobeissi Letter pushed back, saying the disruption risks are overstated.<\/p>\n
According to market data shared by Bearly AI in a post on X<\/a>, Visa dropped about 4.4%, Mastercard fell 6.3%, American Express slid 7.9%, and Capital One declined roughly 8% on Feb. 23 after Citrini\u2019s note was published on Feb. 22. <\/p>\n Notably, by Tuesday afternoon, shares were mostly steady or slightly higher. Visa was around $306, flat on the day, while Mastercard traded near $497, up about 0.5%. American Express was also little changed at $321, and Capital One rose about 4% to around $197.<\/p>\n The situation underscores how quickly viral narratives can move markets and how sensitive both stocks and crypto are to FUD (fear, uncertainty, and doubt). It also shows investors are still unsure how much AI will disrupt the industry.<\/p>\n Citrini Research described a scenario in which AI programs make purchases on their own and seek the cheapest way to send money. In that case, stablecoins could replace credit cards for some transactions.<\/p>\n \u201cWhat follows is a scenario, not a prediction,\u201d the note emphasized. \u201cThis isn\u2019t bear porn or AI doomer fan-fiction. The sole intent of this piece is modeling a scenario that\u2019s been relatively underexplored.\u201d<\/p>\nAI Agent Payments<\/h2>\n