Synchrony Taps OpenAI for In-Chat Purchases with ChatGPT Integration
Synchrony Financial, a leading credit card issuer for brands like Amazon and Walmart, has partnered with OpenAI to integrate its store cards into ChatGPT. This move allows shoppers to buy products directly inside the chatbot using their store cards.
The partnership is one of the first major moves by a US consumer lender to bring financing, payments, and rewards directly into an AI chatbot. According to Maran Nalluswami, Synchrony's chief strategy officer, 'What happens today is the transaction doesn't cleanly happen yet at the provider like OpenAI.' He explained that Synchrony wants to ensure its cards are loaded up in the right spots to complete transactions.
However, there's still work ahead before agentic commerce becomes a reality. Nalluswami said it will take months for Synchrony to get its private-label store cards embedded into ChatGPT while negotiating with brand partners. Consumers remain cautious about handing over credit card information to AI or allowing agents to complete purchases.