PayPal has partnered with OpenAI to integrate its digital wallet into ChatGPT, allowing users to make purchases through the AI tool. CEO Alex Chriss stated that this move will revolutionize e-commerce by providing a safe and secure checkout experience for PayPal’s 700 million weekly users.

The collaboration aims to enhance ChatGPT’s capabilities for shopping, with users able to buy from Shopify, Etsy, Walmart, and now PayPal merchants. Chriss believes that agentic commerce, facilitated by AI, will play a significant role in the future of shopping, positioning PayPal as a key player in this evolving landscape.

In addition to enabling payments through ChatGPT, PayPal will manage payment processing for merchants on the platform, reducing the risk of fraud for both consumers and sellers. Users can choose to pay with linked bank accounts, credit cards, or stored balances, with added protections like package tracking and dispute resolution.

Read more at CNBC: PayPal, OpenAI sign ChatGPT payments deal