Synchrony partners with OpenAI to enable ChatGPT shopping with store cards

Synchrony Financial, a major credit card issuer for brands like Amazon and Walmart, has partnered with OpenAI to enable shoppers to make purchases directly within ChatGPT using their store cards. This initiative marks one of the first significant efforts by a U.S. consumer lender to integrate financing and payments into an AI chatbot, aiming to streamline the shopping experience.

The collaboration is part of a broader trend toward "agentic commerce," which seeks to revolutionize online shopping. Traditionally, when consumers discover products through AI agents, they are redirected to the retailer's website to finalize their purchases. OpenAI is working to change this dynamic by establishing partnerships with payment processors such as Visa and Stripe, allowing for in-chat transactions. Maran Nalluswami, Synchrony's chief strategy officer, emphasized the need for their cards to be seamlessly integrated into the ChatGPT platform to facilitate smooth transactions.

However, significant hurdles remain before this vision can be realized. Nalluswami noted that integrating Synchrony's private-label store cards into ChatGPT will take several months as negotiations with brand partners progress. Additionally, many consumers are hesitant to share credit card information with AI systems or allow them to complete purchases. There are also unresolved questions regarding how fees will be distributed among Synchrony, retailers, and OpenAI for transactions made within the chatbot.

In addition to its partnership with OpenAI, Synchrony is exploring similar integrations with other AI platforms, including Anthropic's Claude and Google's Gemini. The company is also launching a ChatGPT plugin that allows users to browse marketplace deals and promotional financing. These developments come at a crucial time for OpenAI, which is preparing for a potential initial public offering, increasing the urgency to transform ChatGPT into a comprehensive online commerce platform.