PayPal on Tuesday announced a partnership with AI giant OpenAI to allow ChatGPT users to check out instantly using the payments firm, sending its shares up 13% in premarket trading.
It will also connect its global merchant network to OpenAI, allowing users to sell within ChatGPT.
Agentic AI shopping tools are emerging as the next big shift in online retail, as the artificial intelligence system can autonomously research, compare and purchase products for consumers.
These tools act as digital assistants by understanding user preferences, setting budgets, evaluating reviews and tracking prices over time.
"By partnering with OpenAI and adopting the Agentic Commerce Protocol, PayPal will power payments and commerce experiences that help people go from chat to checkout in just a few taps for our joint customer bases," PayPal CEO Alex Chriss said in a statement.
The company will also announce results for the quarter ended September 30 on Tuesday.
