PayPal announced a major partnership with OpenAI on Tuesday. The deal enables ChatGPT users to check out instantly using PayPal. The news pushed PayPal shares up 13% in premarket trading. The company aims to connect millions of global merchants with ChatGPT. Users will access shopping options directly through conversations.
New Era of Agentic Shopping Tools
Agentic AI shopping tools are growing quickly in online retail. These systems can research, compare and buy products for customers. They understand user preferences and recommend suitable products. They also set budgets and evaluate product reviews. Moreover, they track prices over long periods. Therefore, shoppers will enjoy faster and smarter purchasing decisions.
Seamless From Chat to Checkout
PayPal says this partnership will simplify the shopping journey. Customers can move from product discussion to payment in seconds. PayPal CEO Alex Chriss highlighted the goal of improving convenience. He said the companies will adopt the Agentic Commerce Protocol. He added that the partnership will deliver strong commerce experiences. The features will support both shoppers and merchants worldwide. PayPal expects more users to adopt its services through this integration.
Merchants Gain Direct Access to ChatGPT Users
The collaboration will allow merchants to list products in ChatGPT. This creates a new digital storefront within the AI system. Businesses can reach buyers who interact daily with ChatGPT. Consequently, merchants could see increased sales and engagement.
Financial Results Coming Soon
PayPal will also announce quarterly results for the period ending September 30. The company expects strong momentum from new AI partnerships.
