Stripe partners with OpenAI to enable Etsy purchases via ChatGPT

Stripe Inc. has announced a collaboration with OpenAI to let US shoppers buy products through ChatGPT.

The feature will first enable purchases from Etsy Inc., with plans to soon include Shopify Inc., the payment company said in a statement Monday.

Emily Glassberg Sands, Stripe’s head of data and AI, explained that the goal was for ChatGPT to act as a “digital personal shopper,” with purchases processed through Stripe’s payment technology. She noted that Stripe had long supported businesses in selling across the web, mobile apps, and in-person transactions, and added that the future lay in AI agents, which she described as the “new wave.”

The announcement had a major impact on markets. Etsy shares jumped more than 16%, their biggest increase since early 2022, while Shopify rose over 6%.

The deal marks an early move by OpenAI to bring its chatbot — which has 700 million weekly active users — into e-commerce. It follows a similar partnership earlier this month between PayPal Holdings Inc. and Alphabet Inc.’s Google, which are integrating payments and AI tools for online shopping.

These partnerships are seen as paving the way for “agentic” commerce, where AI chatbots act as autonomous agents to make purchases for consumers. Instead of visiting online stores directly, shoppers could rely on tools like ChatGPT, which function almost like digital storefronts. While this opens a new channel for sales, some merchants worry about losing direct contact with their customers.

Major retailers are also investing in AI shopping assistants. Walmart Inc., for example, has developed Sparky, which helps recommend products to consumers. Sands compared the current moment to the early days of online shopping. “I’m sure Chanel was peeved when online shopping started,” she said. “Eventually, they will have to come around to AI tools, too.”