Payment giant PayPal announced that it has reached a groundbreaking agreement with artificial intelligence leader OpenAI. PayPal will integrate its digital wallet into ChatGPT, allowing users to easily purchase goods and complete payments through this AI tool.
Agreement Details: PayPal ecosystem fully integrated with ChatGPT
The agreement, officially finalized last weekend and effective next year, will enable both parties in the PayPal ecosystem—consumers and merchants—to leverage the power of ChatGPT. PayPal users will be able to click the "Buy with PayPal" button directly on the ChatGPT platform for a secure and seamless checkout experience, while PayPal merchants will be able to list their inventory on the ChatGPT platform, expanding their sales channels.
In this regard, PayPal CEO Alex Chriss said in an interview: "We have hundreds of millions of loyal PayPal wallet holders. Now they can click the 'Buy with PayPal' button on ChatGPT and enjoy a secure and smooth checkout experience." He further emphasized: "This is a brand new way to shop. It is hard to imagine that agency commerce will not be an important part of the future." Chriss also pointed out that PayPal provides more than just transaction convenience. Instead, it creates a trustworthy transaction environment through its largest global network of verified merchants and consumer base.
PayPal launches agent-based merchant service
At the same time, PayPal also announced the official launch of Agentic Commerce Services today (28th), which aims to help merchants attract customers and ensure long-term success in the new era of AI-driven shopping. Officials pointed out that the service is built on PayPal's payment infrastructure and initially includes two major features: Agent Ready agent payment solution and Store Sync catalog and order management. It allows merchants to seamlessly connect product information, inventory and fulfillment to the AI platform to achieve fraud protection and ensure smooth checkout.
PayPal shares rose 13% in pre-market trading.
According to Google Finance data, PayPal's stock jumped 13% before the US market opened, reaching $79. At the time of writing, PayPal's market capitalization was reported at $67.1 billion.
