Amazon announced that it is introducing Venmo (PR42 profile) as a payment option at checkout. It will launch the feature in the Amazon app and on amazon.com starting Tuesday before it becomes available to U.S. users on Black Friday, Nov. 25, according to Amazon. Amazon thus wants to offer its users a wider range of payment options.
Customers have to add their Venmo account as a payment method to their Amazon account and then select Venmo as a payment option at checkout.
Venmo is a mobile social payment service operated by Venmo, LLC, a U.S. entity owned by payment giant PayPal. Venmo is a social payment platform aimed at friends and family who wish to split bills, e.g., for movies, dinner, rent, or event tickets, etc. Account holders can transfer funds to others via a mobile phone app. In 2021 The company handled $230 billion in transactions and generated $850 million in revenue.