Mobile payment service Venmo (owned by the payment company PayPal which recently added support for cryptocurrencies) users will be able to pay for purchases on Amazon.
According to a press release from PayPal, the partnership with Amazon, one of the world’s largest online retailers, will enable more than 80 million US Venmo users to use Amazon’s online shopping service and mobile app next year using a Venmo account.
Venmo recently conducted a consumer behavior study, It found that 65% of people were more likely to shop online during the pandemic, and 47% of survey participants are interested in using Venmo when shopping online.
Venmo supported payments in BTC, ETH, LTC, and BCH since April, the PayPal-Amazon collaboration will drive the massive adoption of cryptocurrencies in payments.
Ben Volk, director of international payments development at Amazon, said that recently it has become important for shoppers to have multiple payment options when shopping.
Venmo Senior Vice President Darrell Esch added:
“Over the last year, we have focused on giving our Venmo community more ways to use Venmo in their daily lives, including the ability to pay with QR Codes and providing more shopping features like purchase protections, We’re thrilled to make it possible for our users and Amazon customers to pay with Venmo starting next year.”
The facility to pay with Venmo on Amazon will be ready in 2022.