CNN Business
—
Amazon is rolling out a new option for customers to pay with Venmo.
Starting Tuesday, select customers will see an option at checkout to pay for orders on Amazon
(AMZN).com and via the mobile app using the popular PayPal
(PYPL)-owned payment service rather than using their credit cards. The option will be available to US customers by Black Friday, according to Amazon
(AMZN).
To use the new option, customers can add their Venmo as a payment method on the Amazon account page and then select Venmo at checkout.
The move is the latest example of Amazon looking to expand its checkout payment options for customers. Last year, Amazon partnered with Affirm to offer a buy-now-pay-later function for some purchases over $50.
“We want to offer customers payment options that are convenient, easy to use, and secure — and there’s no better time for that than the busy holiday season,” Max Bardon, vice president of Amazon Worldwide Payments, said in a statement.
Launched in 2009, Venmo has evolved from a peer-to-peer payment app that lets users pay back friends for last night’s pizza into a payment system accepted by major businesses, including CVS and Uber.
The app, now with tens of millions of users, also offers a credit card and has entered into the crypto market by allowing users to buy and sell Bitcoin, Ethereum and other cryptocurrencies.
