Amazon has announced its new partnership with PayPal.
The new partnership will allow Venmo’s more than 80 million users in the US to use the service for purchases on Amazon’s website and via its mobile shopping app in 2022.
The news comes as a recent Venmo behaviour study revealed that 65 per cent of Venmo users said they increased their online purchasing behaviours during the pandemic, while 47 per cent are interested in paying with Venmo when checking out with merchants.
PayPal also announced in March that US shoppers can now complete purchases at millions of businesses using cryptocurrencies, while Venmo offers new features that allows consumers to buy cryptocurrency using cash-back from Venmo credit card purchases.
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“Over the last year, we have focused on giving our Venmo community more ways to use Venmo in their daily lives, including the ability to pay with QR Codes and providing more shopping features like purchase protections,” Venmo senior vice president Darrell Esch said.
“We’re thrilled to make it possible for our users and Amazon customers to pay with Venmo starting next year.”
Amazon director of global payment acceptance Ben Volk added: “We understand our customers want options and flexibility in how they make purchases on Amazon,”
“We’re excited to team-up with Venmo and give our customers the ability to pay by using their Venmo accounts, providing new ways to pay on Amazon.”
