OpenAI has introduced a new e-commerce feature called Instant Checkout, allowing users to purchase products directly through its ChatGPT chatbot. Initially, this feature supports single-item transactions from U.S. Etsy sellers, and it is available to all ChatGPT users, including those on free, Plus, and Pro subscriptions. The company plans to expand the feature to include over one million Shopify merchants, such as notable brands Skims and Glossier, in the near future.
Upon the announcement, Etsy's stock increased by over 13%, while Shopify shares rose by more than 5%. OpenAI's Instant Checkout will involve a transaction fee, although specific details about these fees have not been disclosed, as they are governed by confidential agreements with Etsy and Shopify. OpenAI has stated that the feature will not impose additional costs on users.
Michelle Fradin, the product lead for ChatGPT commerce, emphasized that the goal of ChatGPT extends beyond information provision; it aims to facilitate real-world transactions. Currently free for users, the Instant Checkout feature is powered by OpenAI's Agentic Commerce Protocol, developed in collaboration with fintech company Stripe. This framework allows seamless transactions for users already subscribed to ChatGPT, eliminating the need to re-enter payment information when making purchases.
OpenAI's push into e-commerce follows the introduction of product recommendations in April, enhancing user experience by allowing direct purchasing through the chatbot, thus streamlining the shopping journey. The company aims to further develop its e-commerce capabilities, including the potential for multi-item carts and broader regional availability. As ChatGPT continues to gain traction, with over 700 million weekly active users, the company is focused on converting user interactions into transactions.