David Vance

<a href="https://bitcoinworld.co.in/amazon-ends-venmo-payment-option-for-purchases/" title="Amazon Ends Venmo Payment Option For Purchases" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">Amazon will no longer allow users to pay with Venmo beginning Jan. 10, according to a notice sent to users.</li> 
 <li style="font-weight: 400">The company announced last October it would accept Venmo at checkout.</li> 
 <li style="font-weight: 400">Shares of PayPal, which owns Venmo, slid on Thursday.</li> 
</ul> 
Retail giant, Amazon.com Inc., has decided to cease the use of PayPal Holdings Inc.’s Venmo payment service for purchases on its platform, just over a year after introducing the option. 
Venmo can no longer be added as a payment method in Amazon wallets, and customers who already have it enabled will not be able to use it after January 10, according to a notice from Venmo.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 venmo and amazon broke up <a href="https://t.co/d0NF7snIvZ">pic.twitter.com/d0NF7snIvZ</a> 
 — sami<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f98b.png" alt="🦋" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2728.png" alt="✨" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@queeerjoy) <a href="https://twitter.com/queeerjoy/status/1732585058077212717?ref_src=twsrc%5Etfw">December 7, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The <a href="https://help.venmo.com/hc/en-us/articles/10529670624531-Using-Venmo-on-Amazon-">notice</a> mentioned “recent changes” without providing further details. Amazon customers will still be able to use Venmo debit and credit cards. It reads,&nbsp; 
“Due to recent changes, Venmo can no longer be added as a payment method,” Venmo’s notice on its website reads. “Venmo will remain available to users who currently have it enabled in their Amazon wallet until 01/10/24. ” 
PayPal and Amazon launched their partnership in October 2022, with PayPal aiming to monetize Venmo more effectively and Amazon seeking exposure to a younger customer base, according to Evercore Inc. analysts led by David Togut.&nbsp; 
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They believe the discontinuation is likely due to a lack of adoption, as consumers did not choose Pay with Venmo as their preferred checkout method.&nbsp; 
PayPal, based in San Jose, California, has experienced a slowdown on some of its platforms as consumers return to in-store shopping and reduce spending due to inflation.&nbsp; 
The company is restructuring its senior management under new CEO Alex Chriss and creating three new business units focused on consumers, small businesses, and large enterprises.&nbsp; 
An Amazon spokesperson confirmed the change and said shoppers will still be able to use “nearly a dozen other payment methods.” The company didn’t elaborate on why it is removing Venmo as a payment method. 
A Venmo spokesperson said in a statement that the company and Amazon agreed to disable the payment service as an option, adding: “We have a strong relationship with Amazon and look forward to continuing to build on it.“ 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/amazon-q-raises-eyebrows-over-confidential-data-disclosure-and-hallucinations/" aria-label="“Amazon Q Raises Eyebrows Over Confidential Data Disclosure And Hallucinations” (Edit)">Amazon Q Raises Eyebrows Over Confidential Data Disclosure And Hallucinations</a> 
PayPal shares dropped due to the announcement from 1.8% to $58.46 at 1:15 p.m. in New York, making it one of the day’s five worst performers in the S&amp;P 500 Financials Index. The shares have declined 18% this year, compared to a 4.3% increase for the S&amp;P 500 Financials Index. 
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Amazon Ends Venmo Payment Option For Purchases

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