The American multinational e-commerce store, Amazon has been reported that it is adding a Venmo payment method during checking out, according to PayPal. The new payment method will be offered to its users in the United States in the near future.
Amazon shoppers will be allowed to add Venmo as their payment option next year, after checking out from Amazon.com and its mobile application, both.
“We understand our customers want options and flexibility in how they make purchases on Amazon,” said Ben Volk, the Director Global Payment Acceptance. “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.” He added.
The deal is said to be equally lucrative for both the parties, provided the multiplying revenue of the e-commerce giant and the fact that Venmo alone has 80 million users in the United States.
PayPal made an announcement for its US users that customers would soon be given access to checkout at numerous online stores using cryptocurrencies. Venom, on the other hand allowed its consumers to purchase cryptocurrency from the cashback they receive from its credit card purchases.