Payment giant Visa has embedded its network within ChatGPT’, allowing the chatbot to shop independently and complete transactions on behalf of users, in a move that marks a significant expansion in AI-powered commerce.
This link means that AI agents can not only recommend products, but also complete purchases at any merchant that accepts Visa’. Previous attempts at this type of technology were limited to a single retailer or a small group of registered merchants.
OpenAI will provide technology that allows agents to interact, make decisions, and initiate purchases through ChatGPT. Visa, the world's largest payment network outside of China, will handle payment authorization and fraud monitoring.
Jack Forestell, the company's chief product and strategy officer at “, said that as AI representatives become active participants in the economy, Visa’'s focus is to ensure transactions are reliable, secure, and flawless.
How did it work?
Speaking at a company event in San Francisco’ on Wednesday, Forestell gave an example of a customer asking ChatGPT’ to find wireless headphones for under $150 (€136). The chatbot would find a suitable pair and buy it on behalf of the client.
Users will connect their Visa card to ChatGPT’ to make shopping possible; take security measures to protect consumers and minimize fraud, including spending limits, necessary approval steps, and a list of approved vendors.
Forestell said Visa’ will handle disputes using the same rules that it enforces in other transactions, such as making sure the consumer intends to buy and whether the seller processes it correctly.
This is not OpenAI’'s first attempt at e-commerce. The company launched Instant Payment ’ late last year, allowing ChatGPT’ to scan the internet for specific items. However, this feature was open to errors and %It was not widely adopted by sellers who opposed the 4’ transaction fee and was deprecated in March.
Visa and OpenAI have not disclosed the financial terms of the new regulation or detailed any fees for merchants or customers.
Will people trust that?
Forestell acknowledged that it would take time for consumers to fully trust AI representatives to make their purchases. Because agents send notifications before completing a purchase, most early transactions still require human approval.
“I think we're at a point where most people are pretty comfortable with shopping in general, ” said, and “ added that switching to autonomous buying requires a completely different level of trust.
Visa’'s biggest competitor, Mastercard, is also developing its own AI shopping features, albeit on a smaller scale.
Its offer targets businesses rather than consumers and allows AI representatives to purchase services such as advertising on behalf of a company.
