US-based Rain has launched Agent Vaults, an embedded payment product that lets AI agents spend, receive and send money from a balance their owner funds, within rules the owner sets, The Paypers reports. For each purchase Rain issues a scoped virtual Visa or Mastercard card, accepted at 175 million merchant locations across 200 countries and territories, with the amount, merchant and expiry fixed at issuance and checked at authorization. According to the announcement, merchants do not need to make changes, the agent cannot raise its own limit, and agents can also send money to bank accounts in more than 80 countries.
Vaults can be funded by bank transfer (ACH, Fedwire, FedNow, SEPA and FPS), card or stablecoins, and funds must be in the vault before a card is issued. The balance is held as stablecoins in a non-custodial wallet, and Rain settles with the card networks in stablecoins. The vault sits inside the partner's app with the partner's name on statements, while Rain stays invisible to end users. CEO and co-founder Farooq Malik said the setup lets businesses and consumers load a balance, set rules and let agents pay through a single integration.
Rain, a Visa and Mastercard Principal Member, says it is enabling programs for Visa Intelligent Commerce and Mastercard Agent Pay, and its scoped cards will carry the networks' agent credential signaling user consent. Rain argues the existing options, raw card numbers with no usage limit or third-party wallets carrying another company's branding, leave a gap. It is working with agent developers, marketplaces and payment platforms, though The Paypers names no partners or pricing.
