Razorpay, the National Payments Corporation of India (NPCI), and OpenAI have collaborated to introduce Agentic Payments on ChatGPT and investigate AI-powered commerce on a national level.

This feature, now in the pilot phase, enables users to buy and pay all within one chat interface. Agentic Payments seeks to offer a smooth method for executing transactions without exiting the AI setting.

The initiative is supported by Razorpay's banking collaborators, Axis Bank and Airtel Payments Bank, and is based on UPI advancements like UPI Circle and UPI Reserve Pay. It provides secure, instant UPI transactions for AI-driven shopping experiences.

Bigbasket, a company under Tata, is one of the initial retailers enabling customers to shop via AI-driven experiences on ChatGPT.

Harshil Mathur, CEO and Co-founder of Razorpay, stated, “Through Agentic Payments, we are evolving AI assistants from basic discovery tools into comprehensive shopping agents."

For the first time in India, every consumer can access a personal shopping assistant that not only identifies the best products at optimal prices but also ensures a smooth completion of the entire buying process.

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“This is India's unique conversational payment experience integrated with UPI, fueled by Razorpay and featuring innovations such as UPI Circle and UPI Reserve Pay, delivering exceptional AI capabilities to Indian users in an unprecedented manner,” he stated.

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A ChatGPT user might request, “Assist me in ordering ingredients for a Thai-style vegetable curry serving four from Bigbasket. The AI agent would review Bigbasket’s catalogue, show product choices, and, with a single confirmation, complete the order using Razorpay’s payment system. Users would maintain complete control with immediate tracking and instant cancellation, guaranteeing a secure, user-focused shopping experience."

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In this initiative, Razorpay, NPCI, and OpenAI will investigate AI-driven payment applications, such as customized and secure AI commerce via conversational shopping and checkout processes. The initiative will evaluate how these advancements can permeate various commerce sectors and autonomous applications utilizing UPI, where AI agents might be equipped with payment credentials in the future to independently carry out transactions for users securely and in a regulated way