Amazon’s New Feature Will Allow US Customers To Pay With Venmo

Customers will soon be able to use their Venmo accounts to pay for items on Amazon because of a new feature.

Starting on Tuesday, a limited number of Amazon.com customers will have the option to pay with Venmo, the e-commerce giant announced in a news release. It will be accessible across the country by Black Friday, the day after Thanksgiving.

Although Venmo is mostly recognized for peer-to-peer transactions, it has been extending its range of offerings to include payments to businesses.

Amazon's decision to expand its payment options comes as the business has had to postpone plans to expand its warehouse due to slow sales. Retailers are giving additional discounts to clear out their overstocked stores and entice inflation-stricken customers as a result of their increased trepidation about the holiday shopping season.

For the first time ever, Amazon staged its second most significant sales event of the year earlier this month only for Prime members. Although the retail giant remained silent about the amount of money it made from the event, some estimates suggested lower sales.

Some Amazon customers have access to the Venmo option, and the company claims that everyone in the US will have it available in the coming weeks.

According to the report, the additional payment option may inspire that sizable audience to use Venmo more frequently overall, especially for shopping.

This allows Amazon access to customers who don't frequently utilize traditional payment methods.

Additionally, as PayPal increasingly utilizes Venmo as a catch-all platform, Amazon is making this move. Venmo allows users to manage their cryptocurrency, pay for Lyft rides, and even cash checks.