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Venmo’s parent company, PayPal, announced that Amazon is expanding the ways customers can pay for their orders in the coming months. Starting in 2022, the e-commerce giant is finally allowing payments to be made through Venmo.
PayPal said this change should allow more than 80 million Venmo users to have a wider array of payment options when placing orders on Amazon. However, since Venmo is only available in the United States, the upcoming payment method will be an option for the region only.
Amazon currently lists more than 12 payment methods, but PayPal or other similar platforms are not included. While customers can find plenty of articles offering a workaround in using PayPal, the fact is Amazon does not have native support for the online payment platform. So the addition of Venmo is quite a significant development and opens the possibility for more similar payment options to be added in other regions.
Meanwhile, the addition of Venmo as a native payment method on Amazon is just one of the changes caused by the COVID-19 pandemic. In its announcement, PayPal highlighted a Venmo Behavior study that revealed 65 percent of its users confirmed they have increased their online purchases during the pandemic. The same research reportedly found that 47 percent of Venmo users were “interested” in using Venmo to pay for their online purchases.
Since the COVID-19 declared a pandemic in March 2020, local and national governments worldwide have declared various types of stay-at-home protocols. In some cases, especially in Europe, some regions went on a full lockdown to avert the fast spread of the novel coronavirus.
“We understand our customers want options and flexibility in how they make purchases on Amazon,” Amazon’s Director of Global Payment Acceptance Ben Volk said in a statement. “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.”
Similar to other platforms, Venmo users will be able to pay with their Venmo balance or with the funds from bank accounts linked to their Venmo accounts. PayPal did not provide an official starting date for Amazon’s Venmo support at the moment, but the company confirmed payments through Venmo will be available starting 2022 both on the desktop browser and mobile app versions of Amazon.
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