PayPal becomes the first payment wallet provider on ChatGPT

company paypal and OpenAI have signed a contract to PayPal digital wallet in ChatGPT be integrated and users can make their purchases through this artificial intelligence tool. This agreement, which was announced today, increased the value of PayPal’s shares in pre-market transactions to 14 percent increased

According to PayPal CEO Alex Kreis, the deal will mean access to services such as order tracking and dispute resolution, according to CNBC. Starting next year, PayPal ecosystem users and sellers will be able to transact directly through ChatGPT. Users can have a safe and secure shopping experience by selecting the “Buy with PayPal” option, and sellers can offer their inventory on this platform.

Cooperation between PayPal and OpenAI in ChatGPT

This move makes PayPal a key player in OpenAI’s plans to expand ChatGPT’s e-commerce applications. With more than 700 million weekly active users, people can easily find the products they want with the help of this artificial intelligence and have an experience similar to a personal shopping assistant. Previously, OpenAI announced that users would be able to shop from Shopify and Etsy sellers, and recently a similar partnership with Walmart was implemented to develop e-commerce.

Chris described this move as a “new approach to shopping” and emphasized that business with artificial intelligence agents will play a major role in the future. Also, with the aim of becoming the backbone of payments in the age of artificial intelligence, PayPal has recently started partnerships with Google and artificial intelligence company Perplexity.

PayPal will take full responsibility for transaction management, seller routing and back-end operations for ChatGPT sellers, so they don’t need to register separately with OpenAI. All sellers and customers are verified by PayPal to increase the level of security and trust in transactions and reduce the risk of fraud. Users can make their payments through their bank account, credit card or wallet balance and benefit from comprehensive support, order tracking and fast dispute resolution.

In addition, PayPal has announced that it will expand the use of OpenAI enterprise artificial intelligence products for its employees to speed up product development cycles. This move strengthens PayPal’s position as one of the digital payment leaders in the artificial intelligence ecosystem and creates a safe, seamless and secure experience for users and merchants.