AI Adoption: Financial Infrastructure Firm Stripe to Help Monetize OpenAI’s Products, Enhance Fintech Platform with GPT-4

Stripe, a financial infrastructure platform for businesses, announced OpenAI has chosen Stripe to power payments as it “moves to commercialize its groundbreaking ChatGPT and DALL·E generative AI technologies.”

Stripe is also “incorporating OpenAI’s new natural language technology, GPT-4, into its products and services.”

Peter Welinder, vice president of product and partnerships at OpenAI, said:

“We’re excited to work with Stripe to monetize our flagship products. Beyond payments, Stripe is helping us with everything from recurring billing and tax compliance to automating our financial operations.”

As noted in the update, OpenAI is working with Stripe “to commercialize its generative AI technology.”

Using Stripe’s suite of products, OpenAI was able “to launch a global payments system for multiple product lines in a matter of weeks.”

Highlights of the collaboration include:

  • Stripe Billing and Stripe Checkout are powering ChatGPT. Plus, OpenAI’s premium subscription offering of ChatGPT. Using Checkout’s prebuilt hosted payments page,
  • OpenAI offers one-time purchases, monthly or usage-based subscriptions, and reaches global customers with more than 25 payment methods.
  • Stripe Billing offers DALL·E users a flexible, pay-as-you-go option to purchase DALL·E credits, which enable customers to generate new images.
  • Link, an evolution of Stripe’s Remember Me product, lets OpenAI users pay 40% faster on average by autofilling saved payment details. OpenAI is now part of the Link network, which allows tens of millions of users to check out faster with networked payment details saved across hundreds of thousands of businesses.
  • Stripe Tax supports OpenAI to meet its tax compliance obligations as it expands into global markets.
  • Revenue Recognition helps OpenAI stay on top of its finances—including managing disputes and refunds at scale—so it can accurately close its books each month.
    Seventy-five percent of the leading generative AI companies have signed up with Stripe to go to market quickly, scale with compliance in mind, and bring their products to many more users worldwide. They include OpenAI, Runway, Diagram, and Moonbeam.”

David Singleton, chief technology officer at Stripe, said:

“As these new AI companies proliferate, we’re helping them with smart monetization strategies that get their products into more hands. Personally, I’m excited to easily buy more DALL·E credits and continue my forays into AI-assisted painting.” 

As mentioned the announcement, Stripe has long “used artificial intelligence to enhance its products and experiences for users, including to help users manage fraud and increase conversion rates.”

Last year, Stripe worked with Microsoft’s Azure OpenAI team “to implement GPT-3 for Stripe Support, which is helping agents identify quicker resolution paths for the many users they interact with each week.”

After joining the GPT-4 beta in January, Stripe identified “a range of ways to use the technology to streamline operations and help users get the information they need, faster.”

One of the first outputs of this effort “is GPT-powered Stripe Docs.”

This enhancement to Stripe’s high-quality documentation will “allow developers to pose natural language queries within Stripe Docs to GPT-4, which will answer by summarizing the relevant parts of the documentation or extracting specific pieces of information.”

This lets developers “spend less time reading and more time building.”

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.”

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