In a first-of-its-kind initiative, Razorpay, the National Payments Corporation of India (NPCI), and OpenAI have joined forces to launch Agentic Payments, a conversational payment solution that allows users to shop and pay directly within chat platforms like ChatGPT. The project is currently in a pilot phase.
The collaboration combines Razorpay’s payment infrastructure, NPCI’s Unified Payments Interface (UPI) network, which processes around 20 billion transactions monthly, and OpenAI’s conversational AI technology to enable seamless in-chat payments. Users can now discover products, select items, and complete purchases without leaving the chat interface or switching between apps.
Agentic Payments will function through Razorpay’s banking partners, including Axis Bank and Airtel Payments Bank, leveraging new UPI features such as UPI Circle and UPI Reserve Pay for secure, real-time transactions. The first integration is with BigBasket, enabling users to order groceries through ChatGPT.
For instance, a user can ask the AI to suggest ingredients for a recipe, browse product options from BigBasket, confirm selections, and complete the payment—all within the chat. Additionally, users can track and manage their transactions in real time, streamlining the digital shopping experience.
The pilot also plans to explore further use cases, such as personalized checkout experiences and automated payments initiated by users, aiming to make conversational commerce more intuitive and efficient.
Industry Implications:
This initiative marks a significant step in merging AI-driven conversational platforms with digital payment infrastructure, reducing friction in online transactions and offering a more interactive and convenient user experience. It also positions India at the forefront of global digital payments innovation, with UPI’s versatility and AI’s personalization capabilities driving adoption.
Final Take:
By integrating conversational AI with secure digital payments, Razorpay, NPCI, and OpenAI are creating a new paradigm for e-commerce and financial transactions, making everyday payments faster, smarter, and more accessible.
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