Now Reading: Razorpay teams with OpenAI, NPCI for ChatGPT storefronts
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Razorpay teams with OpenAI, NPCI for ChatGPT storefronts
Razorpay is working with OpenAI and the National Payments Corporation of India (NPCI) to let merchants set up ChatGPT-native storefronts and complete purchases through UPI features such as UPI Reserve Pay and…
The Story in Brief
Razorpay is working with OpenAI and the National Payments Corporation of India (NPCI) to let merchants set up ChatGPT-native storefronts and complete purchases through UPI features such as UPI Reserve Pay and UPI Circle, Inc42 reports. The fintech company claims its technology can reduce a Shopify merchant’s storefront setup time from ten weeks to about thirty minutes. It is currently working with around 50 brands and several ecommerce marketplaces experimenting with agentic commerce.
Razorpay says its architecture keeps payment credentials away from AI models and requires user authorisation for every transaction. The challenge, Inc42 notes, is winning consumer trust at scale. Rival Cashfree has launched a competing product called Cashfree Here, highlighting a broader race among payments firms to own the conversation layer that precedes a transaction.
The Indian Opinion
The narrative that AI assistants will soon replace ecommerce apps downplays how far Indians are from handing a chatbot their wallet. Razorpay’s cautious architecture, payment credentials never touch the AI model, acknowledges the trust gap. The real test is not how fast merchants can set up storefronts but how many consumers will actually authorise a purchase inside ChatGPT. Watch whether adoption exceeds curiosity among users who already use UPI daily. Will they let a bot complete the transaction?
Sources (2): inc42.com, inc42.com (2)
This story was synthesised by AI from the 2 sources linked above.
