OpenAI introduces ChatGPT Wallet for AI-powered purchases

The feature, developed in collaboration with American Express, Mastercard, and Visa, allows cardholders to retain their existing rewards and protections. Users will securely input their card details once, and their dot agent can then identify items for purchase, requiring user approval for each transaction via a security check.

OpenAI emphasized that the AI agents will not directly access user card details. Instead, payment networks will provide a unique “payment token” for each transaction, containing a specific card number, security code, and expiration date.

“Our goal here is to really focus on merchants and our network partners and start building out a really great foundation that’s safe and easy to use,” stated Chaya Nayak, OpenAI’s product lead for monetization and payments, in a CNBC interview.

The launch of ChatGPT Wallet coincides with increasing consumer interest in using personal AI assistants for tasks like scheduling, travel booking, and daily errands. OpenAI revealed the dots agents at its developer conference in September, shortly after Meta’s Muse gained popularity on the App Store.

While purchases through ChatGPT Wallet could potentially generate revenue for OpenAI, the company is currently foregoing transaction fees to prioritize building relationships with merchants and establishing a secure platform for shoppers. OpenAI has been expanding its AI-driven commerce initiatives over the past year, following previous attempts like the “Instant Checkout” feature, which was later discontinued, and a revamped shopping experience introduced in March.

Nayak explained that ChatGPT Wallet represents an evolution of OpenAI’s previous shopping-related efforts, particularly in product discovery. “We think that this is the next step, where if someone found something they’re really excited to buy, then we want to be able to get them through to that endpoint.”