On Monday, PayPal announced that Amazon.com will be adding a Venmo option to checkout for users in the U.S., starting next year.
Starting some point in 2022, Amazon shoppers will be able to link their accounts to popular mobile payment services for purchases made through both Amazon.com and the company’s mobile shopping app.
Source: BizToc.com
In a statement announcing the decision, Amazon’s Director of Global Payment Acceptance Ben Volk said, “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.”
While revealing the new partnership, the company cited a recent in-house “behavior study” that notes, “65% of Venmo users said they increased their online purchasing behaviors amidst the pandemic and 47% are interested in paying with Venmo when checking out with merchants.”
“Today’s announcement is solely about enabling Venmo customers in the U.S. to pay with Venmo at checkout. We look forward to continuing to grow this relationship but have nothing more to share at this time,” the company said in a statement.
Although details of how this will progress haven’t been revealed, if you’ve got a US Venmo account, PayPal says you’ll be able to use it to make purchases at both Amazon’s website and its mobile app starting in 2022, and you’ll be able to use either your Venmo balance or a linked bank account to pay.
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