Razorpay Partners with OpenAI to Power ChatGPT Ads for Indian Brands

Indian payments company Razorpay is working with OpenAI to enable businesses in India to advertise inside the ChatGPT platform, relying on its platform Razorpay Engage, which handles building product catalogs, structuring data, running campaigns, and tracking their performance.

Rahul Kothari, Chief Operating Officer at Razorpay, explained that the Engage platform manages the full onboarding and operation phase for ChatGPT ads for participating brands, reducing technical complexity for companies looking to enter the new channel.

The list of participating brands in the initial program includes Traya, Tanishq, Fastrack, Tata Neu, Shaadi.com, Palmonas, Axis Max Life, and NMIMS, which are brands active in the jewelry, fashion, insurance, matrimony, and education sectors.

The Indian model represents the features of an emerging market that may be repeated in other markets, as it connects a global chat platform with a local intermediary that understands shopper behavior and payment channels. The model shows that brands entering the channel does not depend solely on buying ad space, but on the readiness of their data and their ability to update it regularly. The challenge focuses on the ability of brands to build structured product data suitable for display within conversations, which is provided by the intermediary platform, according to the company.

What do these terms mean?

Digital Payments: Online money transfer and payment services. Product Catalog: An organized file carrying product names, prices, and descriptions to display them on platforms. Structured Data (Feeds): A unified, machine-readable format to feed platforms with product information.