Cards on Chain: Inside Rain's Stablecoin Payments Stack, live from Money 20/20 USA 2026

In the latest episode of The Payments Shed Podcast, filmed live from Money20/20 USA 2026 in Las Vegas, Jason Heister is joined by Pooja Shah, Head of Product at Rain, for a special Walk & Talk exploring how stablecoins are transforming card issuing, why traditional settlement infrastructure is holding businesses back and how Rain is building a new generation of global payments infrastructure. For decades, card programmes have operated around settlement cycles that can leave significant amounts of money sitting idle while transactions clear. Pooja takes us inside the float problem and the opportunity for stablecoin-powered settlement, explaining how Rain enables card transactions to settle on chain every day, including weekends. The conversation then turns to cross-border payments and the challenge of moving money globally. As Rain expands its presence into Asia-Pacific, they explore where stablecoin settlement can overcome the limitations of traditional banking infrastructure and why businesses operating across multiple markets are increasingly looking for alternatives to conventional payment rails. A major focus is the emerging world of agentic commerce. As AI agents begin making purchases and managing transactions on behalf of consumers and businesses, new questions are emerging around authorisation, spending controls and security. Pooja discusses Rain's approach to scoped cards for AI agents, exploring how businesses can give autonomous systems the ability to transact without sacrificing control. Jason and Pooja also unpack Rain's expanding product ecosystem, from card issuing and digital wallets to global money movement and rewards. With Rain announcing Mastercard alongside its existing Visa capabilities, they discuss what dual-network support means for partners looking to launch and scale payment products across different markets. The discussion also explores why loyalty and rewards are becoming part of the payments infrastructure itself. Following Rain's introduction of native rewards capabilities, Pooja shares the thinking behind bringing loyalty directly into the platform and what this could unlock for fintechs and enterprises looking to build more compelling customer experiences. Plus, Pooja takes on The Payments Shed's legendary Shelf of Shame, sharing the one outdated settlement practice she'd happily banish from the payments industry. Recorded live on the exhibition floor at Money20/20 USA 2026, this special Walk & Talk explores the convergence of stablecoins, card networks and agentic commerce, and why the next generation of payment infrastructure could look very different from the systems we've relied on for decades. *** The Payments Shed Podcast is sponsored by Cyclops. Cyclops helps payments companies offer crypto acceptance, stablecoin settlement and payouts through one unified infrastructure platform. Find out more: ⁠https://cyclops.finance/⁠ *** The Payments Shed Podcast is sponsored by Salesloft. Salesloft uses agentic AI to turn buyer, conversation, deal and forecast data into clear actions that help revenue teams sell smarter. Find out more: ⁠https://www.salesloft.com⁠ *** The Payments Shed Podcast is sponsored by Mastercard Open Finance. Mastercard Open Finance enables businesses to use consumer-permissioned financial data to create more connected and personalised financial experiences. Find out more: ⁠https://www.mastercard.com/global/en/... *** The Payments Shed Podcast is partnered with PCN. PCN is a global boutique recruitment agency connecting leading talent and businesses across fintech, cybersecurity, SaaS, e-commerce and Salesforce. Find out more: ⁠https://teampcn.com/⁠ *** Disclaimer: Views expressed are those of The Payments Shed Podcast hosts and guests, not their respective employers. Nothing discussed constitutes investment, legal, tax or financial advice.