Starting next year, you'll be able to use the money anybody Venmos you to buy products directly from Amazon — so long as you live in the US. PayPal has announced that it has struck a deal with the e-commerce giant to allow US customers to pay with Venmo at checkout. It doesn't have an exact date for the feature launch, but when it does become available, you'll be able to pay either with your Venmo balance or your linked bank account.
Amazon typically only accepts credit/debit cards and gift cards for payment, and you can't even purchase from the website using PayPal itself. But when Venmo payments arrive next year, you'll be able to check out using the option not just on the Amazon website itself, but also on the mobile app. Ben Volk, Director of Global Payment Acceptance at Amazon, said in a statement: "We understand our customers want options and flexibility in how they make purchases on Amazon. 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."
We'll likely hear more about the payment option the closer we get to its availability. PayPal made its announcement alongside the release of its third quarter earnings results for 2021, wherein it reported a $6.18 billion net revenue that's 13 percent higher than the same period last year. The company said it's off to a solid start in the fourth quarter but that growth rates still remain slightly below its expectations.