Credit card issuer Synchrony partners with OpenAI
In this photo illustration, the stock market information of Synchrony Financial displayed on a smartphone while the logo of Synchrony Financial seen in the background.
Igor Golovniov | Lightrocket | Getty Images
Editor’s note: A previous version of this story, based on information provided by a Synchrony Financial executive, mischaracterized the collaboration between Synchrony and OpenAI. Details, quotes and characterizations attributed to Synchrony and the executive have been removed. A corrected version is below.
Synchrony Financial, the credit card issuer for brands including Amazon, Walmart and Lowe’s, on Monday announced a collaboration with OpenAI allowing the artificial intelligence company’s models to power the card company’s consumer portals.
“AI is creating an opportunity to reimagine the entire commerce experience, from how customers discover products to how they pay, earn rewards, and build loyalty,” said Kaylin Voss, vice president of Americas and Industries at OpenAI, in a press release.
“Synchrony is approaching that opportunity from both sides: bringing OpenAI into the experiences it creates for customers and partners, while deploying our most advanced models and tools across its own enterprise,” she said.
By using OpenAI’s models, Synchrony hopes it can remain relevant in a future where AI agents help to research and purchase items. The partnership, which is in its early stages, is a step toward enabling Synchrony customers to have smoother online shopping experiences.
Separately, Synchrony said it is launching a ChatGPT plugin that lets consumers browse its marketplace deals, promotional financing and partner offers, and that it is deploying OpenAI’s latest models internally to speed up product development.
The moves come as OpenAI prepares for its massive potential initial public offering, adding pressure on the company to turn ChatGPT into a broader platform for online commerce.
