Visa brings payments to ChatGPT as AI agents start buying for you
AP News • • business
Key Points:
- Visa has integrated its payment network with ChatGPT, enabling the AI chatbot to independently shop and complete transactions for users at any merchant accepting Visa.
- This collaboration allows users to link their Visa cards to ChatGPT, facilitating seamless purchases initiated by AI agents, with Visa providing payment authorization and fraud monitoring.
- The move differs from OpenAI's previous Instant Checkout feature, which was limited to select merchants and faced adoption challenges due to high fees; financial terms for the new partnership were not disclosed.
- Visa plans to implement safeguards such as spending limits and approval steps to prevent unauthorized purchases and minimize fraud risks associated with AI-initiated transactions.
- Competitors like Mastercard are also exploring AI-powered shopping capabilities, focusing on enabling AI agents to procure services on behalf of businesses.