OpenAI partners with Pine Labs to boost payments with AI
OpenAI (yep, the folks behind ChatGPT) is partnering with Pine Labs to weave AI into payment systems across India.
Announced at the India AI Impact Summit, this move makes Pine Labs OpenAI's first ChatGPT payments partner in the country.
The goal? Let AI handle tasks like settlements and invoicing—making things smoother for everyone.
Pine Labs will use OpenAI's tech to upgrade its services
Pine Labs, which already connects nearly a million merchants in 20 countries, will use OpenAI's tech to upgrade its services.
Its subsidiary Setu has rolled out agentic bill-payments on ChatGPT and Claude—so now tracking payments or catching errors can be automated.
Over 100 million weekly ChatGPT users in India
India is a major market for OpenAI, with over 100 million weekly ChatGPT users.
This partnership helps both companies level up: Pine Labs reported a ₹47.86 million profit in the June quarter and faces rivals like Paytm and Razorpay, which have also rolled out AI-led merchant tools.