Online shoppers can now pay for their Amazon purchases though their Venmo accounts thanks to a new partnership announced Tuesday (Oct 25).
Both Venmo and Amazon released joint statements announcing the partnership, stating that by joining forces, nearly 90 million active Venmo customers in the U.S. will have new way to check out easily and quickly for their Amazon purchases.
Venmo users in the U.S. will be able to start using their Venmo accounts at Amazon.com and the Amazon mobile app by Black Friday, Nov. 25, and the new feature is starting to rollout to select Amazon customers today.
“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 press release. “Whether it’s paying with cash, buying now and paying later, or now paying via Venmo, our goal is to meet the needs and preferences of every Amazon customer.”
With the new partnership, “The ability to pay with Venmo on Amazon continues our ongoing commitment to offer the community more ways to spend, send, receive, and manage their money with Venmo,” said Doug Bland, senior vice president and general manager, head of consumer at Venmo parent PayPal.
The ability to check out with a new digital payment option is revolutionary for the Amazon shopping experience, and opens the door for more payment innovation going forward.
According to a new PYMNTS research report, “Building A Better Online Checkout Experience: The Key Features That Matter To Customers,” 72% of customers are taking advantage of the flexibility to use a preferred payment method during e-commerce checkouts.
Read more: 90% of Shoppers Say Smooth Checkout Is Make or Break Experience
Retail shoppers, both in-person and via eCommerce, want an efficient solution in buying the items they want. Whether it’s a swift and friendly transaction at the cash register or a speedy one-click purchase online, new PYMNTS research shows the importance of making checkouts more efficient and consumer-friendly.