
OpenAI working on payment checkout system within ChatGPT: Report
Merchants that fulfill orders through the payment system will pay a commission to OpenAI, the report said.
The move would allow OpenAI to tap a new source of revenue, taking advantage of the heavy user traffic on ChatGPT, in addition to its traditional subscription model.
The checkout feature is still in development, but OpenAI and partners such as e-commerce platform Shopify have been presenting early versions of the system to brands and discussing financial terms, the report said.
OpenAI declined to comment and Shopify did not respond to a request for comment.
The two companies had announced a partnership earlier this year, shortly after the AI startup launched an enhanced shopping feature to better display products and reviews, the report added.
The Sam Altman-led company currently displays suggested products on ChatGPT through links that take users to online retailers' websites.
OpenAI said earlier this year that its annualized revenue run rate surged to $10 billion as of June, up from $5.5 billion in December 2024. The company, however, lost around $5 billion last year.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


New Indian Express
an hour ago
- New Indian Express
‘No AI tools for judicial verdicts': Kerala HC brings out landmark guidelines
KOCHI: Taking note of the excessive use of Artificial Intelligence (AI) tools by members of the District Judiciary, the Kerala High Court has issued guidelines stating that judges must not use AI tools to arrive at any findings, grant reliefs or issue orders or judgments under any circumstances. This is the first instance in the country where a High Court has framed specific guidelines for the use of AI tools in the District Judiciary. As per the policy, most AI tools, including ChatGPT and DeepSeek, are cloud-based technologies. In such platforms, any input provided by users may be accessed or used by the service providers to further their interests, including fine-tuning their models. Submitting information such as case facts, personal identifiers, privileged communications or uploading any other documents related to litigation to these AI tools may result in a serious breach of confidentiality, it stated. 'Hence, the use of all cloud-based services should be avoided, except for approved AI tools,' the HC said. It stated that the increasing availability of and access to AI tools are making a profound impact on diverse fields, including law. While AI tools can be beneficial, their indiscriminate use might result in negative consequences, including violation of privacy rights, data security risks and erosion of trust in judicial decision-making. 'Therefore, the judicial officers and the staff of the District Judiciary are advised to exercise extreme caution while using AI tools,' th stated.


Time of India
5 hours ago
- Time of India
Housing societies in dilemma over NA tax in absence of govt resolution
1 2 3 4 5 6 Pune: Nearly ten months after the state cabinet announced abolition of non-agricultural (NA) tax for urban housing societies, confusion prevails over it due to absence of a formal govt resolution (GR) in this regard. The managements of housing societies across the state said they are not sure whether they should continue paying the tax till official guidelines are issued in this regard. The state cabinet, under Eknath Shinde-led govt, had approved scrapping of the NA tax in October 2024, ahead of the state assembly elections. The move was aimed at providing relief to societies in urban areas like Pune and Mumbai, where residents have been paying both property tax and NA tax. Housing societies have now approached the state government to issue a formal GR in this respect. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune "We have informed the housing societies that the NA tax has been scrapped. However, many have received payment notices post-October. There is widespread confusion on the issue. We urge the govt to issue a GR in this regard immediately," said Suhas Patwardhan, chairperson, Maharashtra State Housing Federation. The NA tax, which dates back to the British era, is levied on properties situated on agricultural land within the municipal corporation or council limits, excluding those located in designated gaothan areas. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it legal? How to get Internet without paying a subscription? Techno Mag Learn More Undo The abolition was a long-standing demand of housing society federations. Despite the cabinet decision, lack of an official GR has left societies in a dilemma. Some have stopped paying tax based on the cabinet announcement, while others continue to pay to avoid potential penalties. Senior revenue department officials acknowledged the delay, attributing it to the timing of the assembly elections. "The law and judiciary department deferred the issue of GR last year, citing code of conduct during elections. Later, it was left to the new govt to issue the GR," a revenue department official told TOI. A senior official confirmed on Saturday that the GR is likely to be taken up in the next cabinet meeting and could be notified before August 15. "We understand the practical difficulties societies are facing. Clear directives will be issued through the GR shortly, which would give clarity to those who have paid NA tax and those who have not," the official added. In the meantime, housing societies remain divided in their approach. "We are aware that the tax has been scrapped, but without an official GR, we are hesitant to stop payment," said a senior committee member of a housing society in Kondhwa. "We have not received any directive from the state govt. Until the GR is issued, we cannot provide clear instructions to officials or societies," said a senior district administration official. The housing federation said that the issue affects thousands of housing societies and called on the govt to issue a resolution in this regard without any further delay. "This is a critical issue for middle-class homeowners. The longer the delay, the more confusion it will create. The govt must act swiftly," said Patwardhan. Pune: Nearly ten months after the state cabinet announced abolition of non-agricultural (NA) tax for urban housing societies, confusion prevails over it due to absence of a formal govt resolution (GR) in this regard. The managements of housing societies across the state said they are not sure whether they should continue paying the tax till official guidelines are issued in this regard. The state cabinet, under Eknath Shinde-led govt, had approved scrapping of the NA tax in October 2024, ahead of the state assembly elections. The move was aimed at providing relief to societies in urban areas like Pune and Mumbai, where residents have been paying both property tax and NA tax. Housing societies have now approached the state government to issue a formal GR in this respect. "We have informed the housing societies that the NA tax has been scrapped. However, many have received payment notices post-October. There is widespread confusion on the issue. We urge the govt to issue a GR in this regard immediately," said Suhas Patwardhan, chairperson, Maharashtra State Housing Federation. The NA tax, which dates back to the British era, is levied on properties situated on agricultural land within the municipal corporation or council limits, excluding those located in designated gaothan areas. The abolition was a long-standing demand of housing society federations. Despite the cabinet decision, lack of an official GR has left societies in a dilemma. Some have stopped paying tax based on the cabinet announcement, while others continue to pay to avoid potential penalties. Senior revenue department officials acknowledged the delay, attributing it to the timing of the assembly elections. "The law and judiciary department deferred the issue of GR last year, citing code of conduct during elections. Later, it was left to the new govt to issue the GR," a revenue department official told TOI. A senior official confirmed on Saturday that the GR is likely to be taken up in the next cabinet meeting and could be notified before August 15. "We understand the practical difficulties societies are facing. Clear directives will be issued through the GR shortly, which would give clarity to those who have paid NA tax and those who have not," the official added. In the meantime, housing societies remain divided in their approach. "We are aware that the tax has been scrapped, but without an official GR, we are hesitant to stop payment," said a senior committee member of a housing society in Kondhwa. "We have not received any directive from the state govt. Until the GR is issued, we cannot provide clear instructions to officials or societies," said a senior district administration official. The housing federation said that the issue affects thousands of housing societies and called on the govt to issue a resolution in this regard without any further delay. "This is a critical issue for middle-class homeowners. The longer the delay, the more confusion it will create. The govt must act swiftly," said Patwardhan.


Time of India
6 hours ago
- Time of India
HDFC & ICICI Bank report strong earnings with record profits in Q1
File photo MUMBAI: HDFC Bank and ICICI Bank reported strong earnings growth for the quarter ended June 2025, supported by a rise in both interest and non-interest income. However, both lenders flagged margin pressures and adopted a cautious stance in certain retail segments. HDFC Bank declared a 1:1 bonus issue and an interim dividend of Rs 5 per share. The bank's standalone net profit rose 12.2% year-on-year to a record Rs 18,155 crore, up from Rs 16,175 crore in the year-ago quarter. The increase was driven by a 103.7% jump in other income and a lower tax outgo, even as provisions rose fourfold. Total income grew 18.5% to Rs 99,200 crore, supported by a 6.1% rise in interest income. Earnings from investments rose 20.1%, while income from balances with RBI and interbank funds surged 41.7%. As of June-end, ad- vances stood at Rs 27.8 lakh crore, up 8%, while deposits rose 16% to Rs 27.6 lakh crore. ICICI Bank posted a 15.4% year-on-year growth in standalone net profit to Rs 12,768 crore, compared with Rs 11,059 crore a year earlier. Profit growth was backed by a 10.1% rise in interest income and a 21.5% increase in other income. Operating profit rose 17% to Rs 18,746 crore, while provisions grew 36.2% to Rs 1,815 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo Advances rose 11.5% to Rs 13.6 lakh crore, and deposits increased 12.8% to Rs 16 lakh crore. The board also approved acquisition of ICICI Prudential Pension Funds Management Company for Rs 203.5 crore, making it a wholly owned subsidiary, pending regulatory approvals. HDFC Bank CFO Srinivasan Vaidyanathan said loan growth is expected to match the industry in FY26 and improve by FY27, led by consumption-driven lending. Mortgages grew 7%, and overall retail lending rose 9.6%. ICICI's ED Sandeep Batra said personal loan and credit card growth slowed to 1% due to calibrated risk management but asset quality remained stable. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now