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Razorpay Partners With OpenAI to Expand ChatGPT Ads in India
Payments firm Razorpay, preparing for a public listing, has teamed up with OpenAI to assist Indian businesses in advertising on ChatGPT, strengthening a collaboration that began last year focused on AI-driven commerce and payments.
Through this collaboration, Razorpay Engage, which is Razorpay's growth marketing platform, will offer brands the tools and operational framework necessary to create product catalogs, organize product feeds, initiate campaigns, and evaluate performance on ChatGPT Ads.
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Initially, the program will involve brands such as Tanishq, Fastrack (owned by Titan), Traya, Tata Neu, Palmonas, Shaadi.com, Axis Max Life, Rivaah by Tanishq, and NMIMS.
Razorpay announced that Engage will evaluate if a brand’s catalogue is suitable for ChatGPT Ads, organize product feeds, develop and oversee campaigns, and offer measurement and optimization.
“Instead of searching through a fixed set of options, people can describe what they need, explore possibilities, and refine their choices through conversation,” Nitin Bawankule, Head of Enterprise Sales, India, OpenAI, said in a statement. “Ads can help brands show up meaningfully in those moments, while preserving the trust people place in ChatGPT.”
Its platform incorporates an AI agent structured around ChatGPT Ads best practices to assist in managing campaigns across various consumer scenarios. Razorpay announced that its team will offer human supervision whenever necessary.
“Razorpay Engage handles the readiness and the running of ChatGPT Ads, so that businesses can test this new channel without having to build the expertise from scratch,” said Rahul Kothari, COO of Razorpay.
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OpenAI revealed the Indian launch in August, introducing advertisements for logged-in adult users on its Free and Go plans. Additionally, users categorized as Plus, Pro, Business, Enterprise, and Education were not included in the rollout.
OpenAI initiated testing of ChatGPT advertisements in the US in February, and by the close of August, they reported that ChatGPT Ads had achieved a $1 billion annualized revenue run.
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Through this collaboration, Razorpay Engage, which is Razorpay's growth marketing platform, will offer brands the tools and operational framework necessary to create product catalogs, organize product feeds, initiate campaigns, and evaluate performance on ChatGPT Ads.
Reports on the rollout indicated that OpenAI intended to offer Ads Manager to Indian marketers with daily budgets beginning at Rs.725.
OpenAI asserts that advertisements are distinct from the responses given by ChatGPT. The existing advertising materials state that advertisers cannot change, rank, or impact ChatGPT's responses.
