PayPal signs deal with OpenAI to embed payment system into ChatGPT

ChatGPT users will soon have a new way to buy products using the generative artificial intelligence bot, thanks to a partnership between PayPal and OpenAI. 

PayPal, which owns the payment platform Venmo, announced Tuesday it is embedding its digital payment wallet into ChatGPT starting next year.

When users search for a product using the AI chatbot, they will now have the option to complete their purchase using PayPal. Shoppers will also be given a “pay another way” option, allowing them to pay using a credit or debit card or bank account.

Alex Chriss, president and CEO of PayPal, said in a statement that the OpenAI and PayPal partnership will help people “go from chat to checkout in just a few taps for our joint customer bases.”

The deal, reported first by CNBC, will also provide tens of millions of PayPal merchants — spanning apparel, fashion, beauty, home improvement and electronics — a new space to do business.

“This integration will make millions of products discoverable and purchasable through ChatGPT,” PayPal said in its statement.

At the end of 2024, the financial technology company had 434 million active consumer and merchant accounts.

OpenAI did not immediately respond to a request for comment.