Amazon to Accept Payments Via Venmo
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Main page Technologies, Amazon

PayPal has just announced it has teamed up with Amazon to allow customers to pay for their purchases via payment service Venmo.

This new feature will be launched for US users in 2022. The new feature will be available on both Amazon's website and mobile app.

According to PayPal's financial results for the third quarter, the company, which owns Venmo, increased its payment volume by 36% to $60 billion.

Notably, the service has previously added the ability to buy and sell Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

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Amazon's deal comes after eBay discontinued PayPal as its primary means of payment. The marketplace's transaction volume fell 45% in the last quarter and accounted for 3% of the payments giant's revenue.

PayPal CEO Dan Schulman has called the partnership with Amazon an important moment in Venmo's monetization efforts, as the company "no longer has an operating contract with eBay."

In July Amazon denied rumors the company plans to add Bitcoin payments. However, it promised to investigate cryptos.

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