Amazon shoppers will be able to add their Venmo account as a payment method for their Amazon account and even set it up as their default payment option. The integration has been almost a year in the making, with Amazon and Venmo parent company PayPal first announcing their plans in November 2021.
“We want to offer customers payment options that are convenient, easy to use and secure — and there’s no better time for that than the busy holiday season,” said Max Bardon, VP of Amazon Worldwide Payments in a statement. “Whether it’s paying with cash, buying now and paying later, or now paying via Venmo, our goal is to meet the needs and preferences of every Amazon customer. We’re excited to continue to offer customers even more options when it comes to how and when they want to pay for their order.”
Convenience and multiple options continue to be transaction differentiators for online retailers of all stripes. Over the past few years, Amazon has vastly expanded the range of payment types it accepts, including:
- The launch of its own payments service, Pay with Amazon;
- The ability to pay with cash by adding money to Amazon account balances at participating retailers;
- Buy now, pay later partnerships with Affirm and Afterpay; and
- Expanded acceptance of Supplemental Nutrition Assistance Program (SNAP) payments.
The deal also is a boon for Venmo, which is steadily building its reach beyond its peer-to-peer payment roots with integrations at retailers both large and small. “We know that the Venmo community of nearly 90 million users value the safety, security, ease and familiarity that paying with Venmo helps to bring to the checkout experience,” said Doug Bland, SVP and General Manager, Head of Consumer at PayPal in a statement. “The ability to pay with Venmo on Amazon continues our ongoing commitment to offer the community more ways to spend, send, receive, and manage their money with Venmo.”