PayPal (opens in new tab) has announced that it is teaming up with Amazon to allow users of its ecommerce platform (opens in new tab) to pay with Venmo (opens in new tab) at checkout.
Beginning next year, users of Venmo's money transfer (opens in new tab) service will be able to use their linked bank accounts and Venmo balance to make purchases on Amazon's website and in the Amazon mobile app.
Director of global payment acceptance at Amazon, Ben Volk praised the new partnership between the two companies, saying:
“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.”
More ways to use Venmo
According to a recent Venmo Behavior study (opens in new tab), 65 percent of Venmo users said they bought more products online during the pandemic with almost half (47%) interested in paying with the service during checkout out with merchants.
To this end, the company has enhanced its offerings to expand the ways in which Venmo can be used both in-person and online according to the company's SVP and GM, Darrell Esch who highlighted the addition of QR codes (opens in new tab) and other new features in a press release, saying:
“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. We’re thrilled to make it possible for our users and Amazon customers to pay with Venmo starting next year.”
The ability to pay with Venmo on Amazon's website will be available in 2022 and new users can download the company's app from the Google Play Store or Apple App Store in the meantime.
Looking for more ways to accept payments online? Check out our roundups of the best payment gateways (opens in new tab), best shopping cart software (opens in new tab) and best credit card processing services (opens in new tab)