In a game-changing move for digital shopping in India, Razorpay, the National Payments Corporation of India (NPCI), and OpenAI have joined forces to roll out AI-powered payments directly on ChatGPT. This pilot project, dubbed “Agentic Payments,” lets users handle everything from browsing products to making UPI payments through simple chats with the AI. Announced yesterday, it promises to make online commerce faster and more intuitive, blending cutting-edge AI with India’s robust UPI network. So, here are all the details about this new move.
How The AI-Powered Payments Pilot Works?
The AI-powered payments system empowers users to complete full shopping journeys right inside ChatGPT. You chat with the AI assistant, which guides you from discovering items to comparing prices and paying up, all without leaving the app. Razorpay handles the secure payments, NPCI powers the UPI backbone, and OpenAI’s smart language models drive the natural flow.
Also Read: What is UPI Circle? Set it Up in GooglePay, PhonePe and Paytm
Key partners and features include:
- Banking allies: Axis Bank and Airtel Payments Bank, leveraging UPI Circle for family-linked payments and UPI Reserve Pay for quick fund setups.
- Early merchant: BigBasket, where users can order groceries effortlessly.
- User controls: Real-time order tracking and easy cancellation options to keep you in charge.
Here’s an example for reference regarding the AI-powered payments: You tell ChatGPT, “Get ingredients for a biryani recipe for four people from BigBasket.” The AI scans the catalogue, suggests options with prices, and confirms your picks. Once you approve, it processes the payment via Razorpay’s gateway, all done in seconds.
Looking Ahead: Expanding AI-Driven Commerce
This AI-powered payments system doesn’t stop at basics. The team plans to test personalised shopping chats and smooth checkouts tailored to your habits. Down the line, they aim to branch into other sectors like fashion or electronics.
A big focus? Letting AI agents handle transactions on their own, but only with ironclad security and your full consent. “We’re excited to pioneer AI-powered payments that put users first,” said a Razorpay spokesperson. As the pilot gathers feedback, expect wider rollout soon, boosting India’s AI-powered payments ecosystem and making UPI even more versatile.
This innovation arrives at a perfect time, with UPI transactions hitting record highs. It could spark a wave of AI-integrated shopping apps, drawing global eyes to India’s fintech scene. Stay tuned for updates on this ChatGPT revolution.
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