Visa lets ChatGPT spend your money directly on actual stuff
Because giving a hallucinating chatbot a direct pipeline to your bank account is exactly what our financial system needed. What could possibly go wrong?
OpenAI previously attempted to launch an Instant Checkout feature last year, but merchants hated the developer fees and killed it within months. Now, the AI company is teaming up with Visa to bypass those hurdles by directly linking user credit cards to ChatGPT.
Under this partnership, OpenAI handles the agent brainpower while Visa manages the boring stuff like fraud prevention and transaction authorization. To prove how flawless this is, Visa chief product officer Jack Forestell suggested a scenario where a user asks the chatbot to find and buy wireless headphones under $150, and the AI just buys them instantly.
Naturally, traditional banks and retailers are sweating at the thought of automated bots going on unchecked shopping sprees with customer funds. To calm everyone down, Visa promised to implement spending limits, approved merchant lists, and their new token system called Visa Intelligent Commerce.
Not to be outdone, Mastercard is building its own AI shopper network, though they are starting smaller by letting corporate AI bots buy web services or ad campaigns. Meanwhile, security researchers at Ask Silver just discovered that ChatGPT already occasionally recommends fake, phishing websites when asked to find luxury goods.
Passing the wallet to a digital assistant that literally makes things up for a living is the ultimate peak of corporate laziness. Soon, the economy might just run entirely on bots buying useless junk from other bots, leaving humans to deal with the overdraft fees.
Source: AP News
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