OpenAI’s ChatGPT is set to revolutionize online transactions by enabling UPI payments through a new partnership with RazorPay and the National Payments Corporation of India (NPCI). This pilot feature, known as Agnetic Payments, allows users to execute UPI payments using simple prompts. Additionally, users can order groceries from Big Basket, receiving a curated list of products and prices to make informed choices before purchasing.
Currently in testing, this integration is a significant step toward AI-powered conversational commerce in India, automating shopping and financial transactions. RazorPay will connect the AI chatbot with several banks, including Axis Bank and Airtel Payments Bank, to facilitate seamless transactions.
However, this innovation raises privacy concerns regarding sensitive financial data and accountability in case of errors. Users will need clear communication and understanding of this AI-driven process to mitigate risks and ensure responsible usage. This transformative feature promises to enhance the e-commerce landscape significantly.
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