Stripe partners with OpenAI to process ChatGPT subscription payments

Patrick and John Collison, the co-founders of Stripe.

Financial services company Stripe has been chosen by OpenAI to power payments as it moves to commercialise ChatGPT.

The advanced AI chatbot owner will soon offer a subscription to ChatGPT, with the Limerick-founded company controlling all payments for the premium service.

Announcing the partnership, Stripe also revealed that they would be incorporating OpenAI's new natural language technology GPT-4, into its products and services.

“We're excited to work with Stripe to monetize our flagship products,” said Peter Welinder, vice president of product and partnerships at OpenAI. 

“Beyond payments, Stripe is helping us with everything from recurring billing and tax compliance to automating our financial operations.”

So far, over 75% of generative AI companies have signed up with Stripe to process payments and bring products to users worldwide, including OpenAI, Runway, Diagram, and Moonbeam.

“As these new AI companies proliferate, we’re helping them with smart monetization strategies that get their products into more hands," said David Singleton, chief technology officer at Stripe.

Last year, Stripe worked with Microsoft’s Azure OpenAI team to implement GPT-3 for Stripe Support, which is used to help agents identify quicker resolution paths for people they interact with each week.

Speaking on the company incorporating GPT-4, Eugene Mann, product lead for applied machine learning at Stripe said, "Like the introduction of email, smartphones, or videoconferencing, GPT-4 has the potential to fundamentally rewire and improve how businesses run,” 

“By integrating GPT-4, Stripe is giving our users the most advanced tools to help them build and grow online.”