Starting next year, you’ll be able to use the money anybody Venmos you to buy products directly from Amazon — so long as you live in the US. PayPal has announced that it has struck a deal with the e-commerce giant to allow US customers to pay with Venmo at checkout. It doesn’t have an exact date for the feature launch, but when it does become available, you’ll be able to pay either with your Venmo balance or your linked bank account.
Amazon typically only accepts credit/debit cards and gift cards for payment, and you can’t even purchase from the website using PayPal itself. But when Venmo payments arrive next year, you’ll be able to check out using the option not just on the Amazon website itself, but also on the mobile app. Ben Volk, Director of Global Payment Acceptance at Amazon, said in a statement: “We understand our customers want options and flexibility in how they make purchases on Amazon. We’re excited to team-up with Venmo and give our customers the ability to pay by using their Venmo accounts, providing new ways to pay on Amazon.”
New research from The Strawhecker Group analyzes key trends and consumer attitudes.
Download a free infographic covering several findings from the full report.
Consumers have increasingly adopted Buy Now, Pay Later (BNPL) services for multiple reasons; a desire for financial flexibility, a way to avoid incurring credit card debt, or to purchase items outside of their budgets. However, despite its popularity, consumer debt and missed payments have led to calls for additional research and regulation. Read the press release.
To take a closer look, The Strawhecker Group (TSG) conducted a survey of over 1,500 U.S. consumers in early 2021 with the goal of understanding domestic attitudes and perspectives on the use of BNPL services. The complete findings, a selection of BNPL provider profiles, and market landscape details can be found in the firm’s new report Buy Now, Pay Later: An Analysis of Key Trends and Consumer Attitudes.
Highlights of this extensive 81-page report include:
- Buy Now, Pay Later Background
- Key Players in the Buy Now, Pay Later Space
- Buy Now, Pay Later Consumer Survey
- Concluding Thoughts: The Future of Buy Now, Pay Later