Amazon announced that it will now allow customers to pay via Venmo on their platform. The company said that starting today, this option will be available to some customers and will be launched to all U.S. users on the Amazon website and mobile apps by next month’s Black Friday. To pay via Venmo, users will need to add their account first. When checking out on Amazon, users can choose “Select Payment Method” and then select “Add Venmo Account”. This will allow them to redirect to the Venmo application, where they can complete the authentication. Users can also select Venmo on that screen as their default payment method for shopping on Amazon. When paying with Venmo on Amazon, customers can complete the transaction using a Venmo balance, a linked bank account or a qualified debit card. “We want to provide customers with convenient, easy-to-use and secure payment options – there is no better time than a busy holiday season,” said Max Bardon, Amazon’s vice president of global payments, in a statement. “Whether it’s paying in cash, buying and paying later, or now paying through Venmo, our goal is to meet the needs and preferences of every Amazon customer. This e-commerce platform already offers different payment methods, such as credit and debit cards, from networks such as Visa, Mastercard, American Express, Diner’s Club and JCB.” A recent survey called Netfluential and Edison Trends PayPal and Venmo Research pointed out that Venmo users shop twice as frequently as average shoppers. So, this may be good for Amazon to increase the number of transactions on its platform. Amazon will report third-quarter 2022 results this week, with estimated revenues of $125 billion to $130 billion. It is worth noting that this quarter also includes its Prime Day sales
in July
