Amazon Customers Can Pay With Venmo Starting Next Year
Amazon Customers Can Pay With Venmo Starting Next Year
Amazon and Venmo are partnering up to allow customers to pay for Amazon purchases with their Venmo accounts starting sometime next year.
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Starting next year, Amazon will allow customers to pay for Amazon purchases with Venmo. Amazon has infamously not allowed third-party payment options such as Google Pay, Apple Pay, or PayPal on the platform. Instead, Amazon has traditionally only used its in-house system to process payments for purchases in apps, online at Amazon.com, and even in physical locations for Amazon Go.
Venmo has over 80 million users in the U.S. and is a popular peer-to-peer payment service. For some, Venmo is like having cash as it allows users to quickly and securely send money from one person to the next. And with Venmo balance, that money is immediately available as soon as it’s received — no waiting several days for the bank to process the funds. Of course, users can fund their Venmo accounts via a bank account.
Today, Amazon and Venmo (owned by PayPal) are coming together to create a more streamlined purchase system. According to the press release, Amazon customers will be able to use Venmo at checkout starting sometime next year. At this time, details are scarce, and no exact date has been given. However, outside of Affirm, which loans customers money to make monthly payments via credit, Venmo is the first major payment processor to work with Amazon.
The More, The Merrier
Now that Venmo is in the works and Affirm is fully integrated, Amazon should allow other payment processors to work on the site. Similar to how Amazon Pay works on third-party websites, Amazon should be allowing mobile payment solutions such as Google and Apple Pay on the platform to allow for even faster checkout times. Of course, this isn’t always feasible as payment processors charge a fee for every transaction. Support for other peer-to-peer services such as the Cash app would be a nice bonus, too.
Regardless, Venmo support is an excellent first step in allowing additional payment options at the checkout. While Amazon’s checkout system is no doubt easy, fast and secure, other options such as Affirm are great additions. More ways to pay will only give folks more reasons to shop on Amazon versus other online retailers. Amazon already offers super speedy shipping on more items you can count in more areas than you can name. Adding more payment options will just add to Amazon’s already massive lead in the e-commerce space. Next thing you know, you’ll be able to buy your next house on Amazon with one click.
Link Source : https://screenrant.com/amazon-customers-pay-venmo-when/
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