Amazon and Venmo announce partnership to expand payment options for US users – Bits Media

American users of the mobile payment service Venmo, owned by the payment company PayPal and which added support for cryptocurrencies, will be able to pay for purchases on Amazon.

According to a PayPal press release, partnership with Amazon, one of the largest online retailers, next year will allow more 80 million Venmo users in the US use the service to make purchases on Amazon and its mobile application, using your Venmo account. Venmo recently conducted a study on the purchasing power of users. It turned out, what 65% people have become more likely to shop online during the pandemic, but 47% survey participants are interested in using Venmo to pay for purchases.

Considering, that since April Venmo began to support payments in BTC cryptocurrencies, ETH, LTC и BCH, Cooperation between PayPal and Amazon will contribute to the mass adoption of cryptocurrencies in the payment industry. Amazon Global Payments Development Director Ben Volk (Ben Volk) reported, that recently it has become important for customers to have several payment options when making purchases. Venmo Senior Vice President Darrell Ash (Darrell Esch) added:

“Over the past year, we have focused on, to give Venmo customers more ways to use the service in their daily lives. They now have the opportunity to pay for purchases using QR codes, as well as many additional functions, aimed at safe shopping. We are very happy, that starting next year our users and Amazon customers will be able to pay for them using Venmo.", – said Ash.

In August, Venmo added the ability for credit card holders to convert their monthly credit card cash back into one of its supported cryptocurrencies.