Venmo (Service of PayPal, Inc.) is just another partner in Amazon’s continuous campaign to dominate online retail. The world’s most valuable retailer is teaming up with PayPal to offer a new checkout option to customers in the United States next year. Customers in the United States will be able to use their Venmo accounts to make purchases on Amazon.com and the Amazon mobile shopping app. Amazon Pay was introduced to India last year, while Zip Pay was launched in Australia in 2019 to allow customers to “buy now, pay later” (the same option available in India’s Amazon site).
“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,” said Darrell Esch, Senior Vice President and GM, Venmo. “We’re thrilled to make it possible for our users and Amazon customers to pay with Venmo starting next year.”
“We understand our customers want options and flexibility in how they make purchases on Amazon,” said Ben Volk, Director of Global Payment Acceptance, 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.”
The bigger problem is how widely the service will be used by Amazon users who have traditionally had minimal difficulty relying on card payment. It currently accepts credit or debit cards, store cards, checking accounts, HSAs or FSAs, and EBT cards as payment methods. However, it is worth noting that PayPal is not currently natively accepted as a payment option on the service, thus the addition of Venmo is a significant gain for the company.
