India’s payments regulator, the National Payments Corporation of India (NPCI), has teamed up with fintech company Razorpay and OpenAI, backed by Microsoft, to introduce AI-driven payments on ChatGPT, the companies announced on Thursday, Reuters has reported.
Currently in a pilot phase, the initiative will enable users to make purchases through ChatGPT, powered by India’s homegrown Unified Payments Interface (UPI).
The pilot aims to explore how UPI can empower AI agents to "autonomously complete transactions on behalf of users in a safe, secure, and user-controlled manner," according to a joint statement from the companies.
Axis Bank and Airtel Payments Bank are participating as banking partners for the trial. Tata Group-owned e-commerce platform Bigbasket is among the first platforms where customers can shop directly via ChatGPT.
Oliver Jay, managing director of international strategy at OpenAI, said, “We're excited to work with NPCI and explore how we can combine advanced AI with UPI, one of the world's most trusted real-time payment networks, to unlock a new era of effortless and secure commerce.”
UPI, India’s leading fast payments network, currently handles more than 20 billion transactions every month, underscoring the scale and reliability of the system supporting the pilot.
The companies said the trial will assess how AI-driven payments could be scaled across multiple sectors, marking a significant step toward integrating conversational AI with India’s digital payment ecosystem.
It also launched an IoT (internet of things) payments with UPI for enabling transactions directly from connected devices such as cars, smart TVs, and wearables, and 'banking connect', which is an interoperable net banking solution.
The body also introduced 'UPI Reserve Pay' which will allow users to securely block and manage credit limits for specific purposes across merchant and UPI apps.
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Currently in a pilot phase, the initiative will enable users to make purchases through ChatGPT, powered by India’s homegrown Unified Payments Interface (UPI).
The pilot aims to explore how UPI can empower AI agents to "autonomously complete transactions on behalf of users in a safe, secure, and user-controlled manner," according to a joint statement from the companies.
Axis Bank and Airtel Payments Bank are participating as banking partners for the trial. Tata Group-owned e-commerce platform Bigbasket is among the first platforms where customers can shop directly via ChatGPT.
Oliver Jay, managing director of international strategy at OpenAI, said, “We're excited to work with NPCI and explore how we can combine advanced AI with UPI, one of the world's most trusted real-time payment networks, to unlock a new era of effortless and secure commerce.”
UPI, India’s leading fast payments network, currently handles more than 20 billion transactions every month, underscoring the scale and reliability of the system supporting the pilot.
The companies said the trial will assess how AI-driven payments could be scaled across multiple sectors, marking a significant step toward integrating conversational AI with India’s digital payment ecosystem.
UPI takes centre stage at Global Fintech Fest 2025
The National Payments Corporation of India (NPCI) launched a slew of initiatives on Wednesday, including AI-based UPI HELP powered by its Small Language Model (SLM) that will assist in payments, mandates, and dispute resolution.It also launched an IoT (internet of things) payments with UPI for enabling transactions directly from connected devices such as cars, smart TVs, and wearables, and 'banking connect', which is an interoperable net banking solution.
The body also introduced 'UPI Reserve Pay' which will allow users to securely block and manage credit limits for specific purposes across merchant and UPI apps.
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