Synchrony Partners with OpenAI to Advance In-App Shopping Payments via ChatGPT

Deep Tide TechFlow reports that on August 17, according to CNBC, credit card issuer Synchrony Financial is collaborating with OpenAI to allow consumers to use its store-branded credit cards for direct purchases within ChatGPT. Synchrony issues credit cards for brands such as Amazon, Walmart, and Lowe's. The partnership aims to integrate financing, payment, and rewards functionalities into the shopping process of AI chatbots. Synchrony Chief Strategy Officer Maran Nalluswami stated that fully integrating general-purpose credit cards into ChatGPT is expected to take 6 to 12 months, while private-label cards specific to certain retailers may take even longer. Currently, after discovering products through AI agents, consumers typically still need to navigate to brand websites to complete transactions. Synchrony is also in discussions with other AI platforms, such as Anthropic's Claude and Google's Gemini, for similar collaborations.