Shares in PayPal surged over 10% following news of its partnership with OpenAI, which will allow the integration of its wallet into ChatGPT.
PayPal has announced that it will adopt the Agentic Commerce Protocol (ACP), an open standard co-developed with Stripe. This collaboration will enable millions of ChatGPT users to make instant payments using PayPal. Furthermore, PayPal will facilitate payment processing for merchants utilizing OpenAI Instant Checkout, connecting its extensive global merchant network to OpenAI and creating opportunities for tens of millions of businesses to sell within ChatGPT.
Through PayPal’s wallet, customers can utilize various funding options, including bank accounts, balances, and credit/debit cards, along with buyer and seller protections, post-purchase tracking, and dispute resolution services.
Alex Chriss, president and CEO of PayPal, stated, “By partnering with OpenAI and adopting the Agentic Commerce Protocol, PayPal will enhance payments and commerce experiences, enabling users to go from chat to checkout in just a few taps.”
In addition to commerce, this partnership will expand PayPal’s AI initiatives with OpenAI, providing access to ChatGPT Enterprise for its over 24,000 employees, supporting engineers with Codex, and increasing the use of OpenAI’s APIs.
This agreement marks a significant step forward in the evolution of agentic commerce, following OpenAI’s collaboration with Stripe and PayPal’s recent integration of Mastercard’s agentic payment platform.