[ChatGPT vs Bard] All about Payment Links explained by AI [1]
AI‘s perspectives on Payment Links 😎
When OpenAI launched ChatGPT in late 2022, it ignited a craze for generative AI. People are experiencing a mixture of excitement and fear due to ChatGPT’s remarkable performance in various fields such as writing, programming, design, and more, matching that of humans. As a result, both established tech giants and startups are enthusiastically adopting the ChatGPT trend and introducing services that make use of generative AI. In a recent development, Google unveiled Bard, a conversational AI service built upon LamDA, its highly advanced language model.
PIP, the leading global provider of Web3 payment solutions, has incorporated AI technology into various internal tasks since the launch of ChatGPT. Our team of experts in programming, finance, design, and content creation has been leveraging the power of ChatGPT, Bard, and other generative AI tools in their day-to-day work.
On this occasion, we posed a series of questions about PIP’s products to ChatGPT and Bard. How perceptive will these two generative AIs be in terms of the development and utilization of our products? And how divergent are their perspectives? In this Medium article, we delve into an inquiry about one of PIP’s products: Payment Links.
First, we provided ChatGPT and Bard with information about Payment Links. We provided them with a description on the PIP website’s Doc section so that they could understand what Payment Links are. We then asked them five questions to determine if they have any insights or information that could help make Payment Links a more popular payment service.
Q. Tell me three top companies or startups that have offered innovative and creative payment solutions or services to the public since the 1990s? These companies should have a good reputation for their innovative payment features, user-friendly interfaces, and successful fundraising efforts.
After identifying these companies, I would like you to analyze the three best features of their payment solutions. Payment Links would like to borrow these features to improve our customer’s satisfaction.
ChatGPT and Bard’s answers to this question were like below.
Both ChatGPT and Bard mentioned PayPal, Square, and Stripe, which are well-known names within the payment services space. PayPal and Square are listed companies on the NASDAQ, while Stripe is a private company (PIP aims to be the Stripe of Web3 payment services).
ChatGPT cited ease of use, security, platform integration, and customization as features of each payment platform. These are features that most payment solutions have today. Platform integration refers to the level of how easy it is for online stores and platforms to connect each payment service to their websites.
Similarly, Bard listed three features for each payment service. There’s not much difference from what ChatGPT mentioned, but it’s worth noting that it mentioned global reach as one of features of Paypal. According to Bard, PayPal currently supports payments in 200 countries. This global reach is something that Payment Link already has. It’s a wiring service based on blockchain and cryptocurrency.
Q. Tell me where and for whom Payment Links would be most useful and valuable? Please provide answers for each of the following [items]:
[items] =
-Which countries
-Types of industries
-Types of business
-Types of demographics
ChatGPT and Bard’s answers to this question were like below.
ChatGPT says countries with limited access to conventional financial services may find Payments Link to be useful. For instance, it mentioned developing countries in Africa, Asia, and Latin America. Bard responded similarly a slightly different twist: that Payments Link would be useful in countries with strict capital controls.
When it comes to the types of industries, ChatGPT said that Payment Links would be beneficial for any industry that requires cross-border transfers, including e-commerce, freelancing, international payments, and tourism. The idea of tourism brings to mind the idea of “online local tours” — for example, what if a local in the United States could let people know their local festivals, foods, customs via the internet, complete with some photos and videos, and get paid with the Payment Link?
Bard created brief answers for e-commerce, travel, non-profits, and more with additional details at the bottom of the same questions.
A couple of details stand out: Payment Link will help people in countries with strict capital controls. This might be an idea that probably arises out of the fact that cryptocurrencies are more difficult for governments to control. The payment link may also apply to the tourism enterprise. Some travelers don’t want to give out their credit card payment information, and Bard’s idea is to let them use Payment Link to pay for their trip.
Finally, when it comes to types of demographics, ChatGPT said it would be especially useful for those having little access to banking services, prefer to transact in cryptocurrency, or work in industries where cross-border payments are common. When we asked the same question, Bard had a similar answer: Payment Link would be useful for people living in developing countries or for those poor and concerned about the security of their personal information.
Q. Tell me 5 global venture capital firms that have invested in major financial payment services since 2000s. Then share some business advice for Payment Links in order to increase chances of fundraising from these venture capital firms in the light of investment principles of these venture capitals firms.
ChatGPT and Bard’s answers to this question were like below.
A few tips from ChatGPT stand out. It says that Payment Link must be different from existing payment solutions by highlighting its ease of use and value, such as its global reach and escrow features. Also, it advises that rewards or discounts would drive users to use Payment Link. In addition, building strategic partnerships with banks, financial institutions, and payment service providers would matter.
For Bard, big markets matter. It tells me that the global payment processing markets are growing to $3.9 trillion by 2025. It also advises me to build ‘traction’. Venture capitals are more likely to invest in companies that have achieved a certain level of performances, so you need to be able to show that you’ve generated revenues or acquired customers. In addition, Bard says you need to ensure that you have a strong team and that you have the road maps, resources and capacity to implement your growth plans.
Of the two AI services’ advice, Bard seems to be the more realistic. It seems to recognize that venture capitalists are, after all, buying equities of promising company at a lower prices up front, and then selling the equities when the company’s value increases in the future.
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😎If you’re interested in PIP products, check out the links below
- PIP official website: https://www.getpip.com/
- Social Pay: https://www.getpip.com/pip-extension
- PipMe: https ://pip.me
- Pay Button: https://www.getpip.com/pip-button
- Payment link: https://www.getpip.com/payment-links
- Invoice: https://www.getpip.com/invoice
- Checkout: https://www.getpip.com/checkout
