PayPal stock jumped 13% after the company announced a partnership with OpenAI

_*:min-w-0"> PayPal struck a deal with OpenAI on Tuesday that places its payment system directly within ￰0￱ can now buy stuff they find through the popular AI tool without leaving the platform. _*:min-w-0"> The news sent PayPal’s shares soaring 13% ￰1￱ companies formed the agreement over the ￰2￱ year, PayPal customers will be able to shop through ChatGPT, and businesses using PayPal will be able to sell their products via ChatGPT. _*:min-w-0"> “We’ve got hundreds of millions of loyal PayPal wallet holders who now will be able to click the ‘Buy with PayPal button’ on ChatGPT and have a safe and secure checkout experience,” PayPal boss Alex Chriss said in an interview. _*:min-w-0"> OpenAI expands e-commerce ambitions _*:min-w-0"> This move places PayPal squarely in the middle of OpenAI’s major push to transform ChatGPT into a shopping ￰3￱ AI company wants its massive user base of more than 700 million people to use artificial intelligence like a personal shopper each week. _*:min-w-0"> OpenAI already made similar deals last month with Shopify and ￰4￱ weeks back, it also teamed up with Walmart for online shopping. _*:min-w-0"> “It’s a whole new paradigm for shopping,” Chriss said.

“It’s hard to imagine that agentic commerce isn’t going to be a big part of the future.” _*:min-w-0"> PayPal wants to become the go-to payment system for this new wave of AI ￰5￱ company also recently signed deals with Google and AI firm ￰6￱ also released its third-quarter earnings on Tuesday, along with details about the OpenAI partnership, following CNBC’s initial report. _*:min-w-0"> Technical integration and security benefits _*:min-w-0"> PayPal will do more than just process ￰7￱ company will handle technical tasks, such as routing merchants and verifying payments for PayPal sellers, using ￰8￱ businesses won’t need to sign separate deals with OpenAI. _*:min-w-0"> Chriss pointed out that PayPal has already checked both shoppers and businesses, which cuts down on fraud ￰9￱ can pay using their bank accounts, credit cards, or PayPal balances.

They’ll get purchase protection, package tracking, and help with disputes. _*:min-w-0"> “It’s not just that a transaction can happen,” Chriss said. “It’s that this is a trusted set of merchants, the largest merchant network in the world from PayPal, that are verified, with the largest set of verified consumers in a consumer wallet.” _*:min-w-0"> PayPal also said it will use more of OpenAI’s business AI tools to help its own workers get things done faster and speed up making new products. _*:min-w-0"> When OpenAI rolled out its Instant checkout feature earlier, it also partnered with ￰10￱ deal lets users tap into saved payment cards and bank details when buying from Etsy sellers through Stripe’s Link service. _*:min-w-0"> Stripe calls Link a wallet and says it has 200 million users, but the service can’t store money and doesn’t have a phone app for ￰11￱ financial technology experts don’t think it’s a real wallet yet.

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