🐘 India🇮🇳: OpenAI, fintech Razorpay, and the National Payments Corporation (NPCI) launch UPI payments directly within ChatGPT

🐘 India🇮🇳: OpenAI, fintech Razorpay, and the National Payments Corporation (NPCI) launch UPI payments directly within ChatGPT

The AI-powered solution, called “Agentic Payments”, marks a major step forward in financial automation.
The project is currently in its pilot phase.

➡️ Key features:

👍 Conversational interface for conducting digital transactions.

👍 Reduced risk of human error in payment processing.

➡️ Background: UPI —the Unified Payments Interface— has, in just 9 years, become the undisputed leader in digital payments. Today, 83% of India’s digital transactions are processed through UPI, whose compatibility ensures complete interoperability among payment providers.

➡️ “Agentic Payments” will leverage Reserve Pay, a new UPI feature that allows users to pre-reserve funds for specific merchants before completing a purchase.

➡️ Financial partners include Axis Bank and Airtel Payments Bank, while Bigbasket, the e-commerce platform of the Tata Group, will be among the first merchants to offer direct purchases from within ChatGPT.

#news #India #fintech #payments #AI

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