ChatGPT can now make payments for you using PayPal
What's the story
PayPal has announced a strategic partnership with artificial intelligence (AI) giant OpenAI. The collaboration will see the integration of PayPal's services into OpenAI's ChatGPT, allowing users to make instant payments through the AI chatbot. The announcement has already led to a 13% surge in PayPal's shares during premarket trading.
Network integration
PayPal to connect its global merchant network with OpenAI
Along with the ChatGPT integration, PayPal will also connect its global merchant network with OpenAI. This move will allow users to sell products directly within the ChatGPT platform. The development is a part of a larger trend in online retail where AI systems are being used as digital assistants for researching, comparing, and purchasing products on behalf of consumers.
CEO statement
PayPal CEO's vision for the future of online shopping
PayPal's CEO Alex Chriss commented on the partnership, saying, "By partnering with OpenAI and adopting the Agentic Commerce Protocol, PayPal will power payments and commerce experiences that help people go from chat to checkout in just a few taps for our joint customer bases." The statement highlights how this collaboration could revolutionize online shopping by making it more seamless and efficient.