PhonePe has entered into a new collaboration with OpenAI to bring ChatGPT directly to users across its consumer and merchant platforms. The company said the partnership aims to speed up the adoption of generative AI in India and strengthen the ecosystem for both organisations.
With this integration, users will be able to access ChatGPT through the PhonePe app, PhonePe for Business and the Indus Appstore. PhonePe believes this will help people discover everyday uses for AI such as planning travel, exploring shopping options and finding quick information. The company added that the tie up is expected to enhance the overall platform experience by delivering more relevant and smarter responses to users.
India is seeing rapid growth in generative AI usage and both companies view this partnership as an important step in bringing consumer facing artificial intelligence tools to a wider audience. Rahul Chari, Founder, Whole time Director and Chief Technology Officer at PhonePe, said “At PhonePe, we have spent years building the foundational layers for digital services at population scale. This strategic alliance demonstrates that collaborations between innovative companies in this space can help expand the reach of cutting edge technology to the broader population. We are excited to partner with OpenAI to begin this journey.”
Oliver Jay, Head of International at OpenAI, said “Our collaboration with PhonePe is a significant milestone in our mission to make AI more accessible to people throughout India. India is a global hub for innovation, and PhonePe’s deep understanding of the country’s fabric and its user base make them the ideal partner. This partnership will demonstrate the immense value of consumer AI across India, helping millions of users enhance their daily lives.”
The partnership has been announced at a key time for the Bengaluru based fintech as it prepares for a public listing in India. PhonePe confidentially filed its draft prospectus with the market regulator in September and is reportedly aiming for a one point five billion dollar initial public offering that could value the company at around fifteen billion dollars.
The company, backed by a global retail group, has been scaling its payments and digital services network. PhonePe reduced its net loss in the financial year twenty five to one thousand seven hundred twenty seven crore rupees from one thousand nine hundred ninety six crore rupees in the previous year. Its operating revenue rose forty percent to seven thousand one hundred fourteen point eight crore rupees.
As of March thirty first twenty twenty five, the platform had more than sixty one crore registered users and a merchant network covering over four point four crore merchants across the country. Its offerings now include consumer payments, merchant payments, lending, insurance distribution and new platforms such as Share Market, Pincode and the Indus Appstore.
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