Amazon Rolls Out a New Venmo Payment Option for U.S. Customers
Kanesa David — October 26, 2022 — Business
References: amazon & retaildive
Amazon is now allowing its customers to complete their holiday purchases with a new payment method: Venmo. By implementing Venmo, Amazon is broadening its potential customer base for U.S.-based residents. Consumers can choose Venmo as their payment method on Amazon’s website and its mobile app just in time for Black Friday, and the service itself is “protected by the back-end technology Amazon has built, as well as Amazon’s A-to-z Guarantee.”
Additionally, Venmo Purchase Protection will apply to eligible purchases, so you can stock up on gifts without worrying about fraudulent charges.
“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. 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,” Max Bardon, vice president of Amazon Worldwide Payments, said in a statement. “We’re excited to continue to offer customers even more options when it comes to how and when they want to pay for their order.”
Image Credit: Amazon
Additionally, Venmo Purchase Protection will apply to eligible purchases, so you can stock up on gifts without worrying about fraudulent charges.
“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. 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,” Max Bardon, vice president of Amazon Worldwide Payments, said in a statement. “We’re excited to continue to offer customers even more options when it comes to how and when they want to pay for their order.”
Image Credit: Amazon
Trend Themes
1. Expanded Payment Methods - As companies like Amazon broaden their accepted payment methods to include services like Venmo, there is an opportunity for disruptive innovation in the payment processing industry.
2. Mobile Payment Integration - The integration of mobile payment services like Venmo into online retailers like Amazon presents an opportunity for disruptive innovation in the mobile payment industry.
3. Purchase Protection - Services like Venmo Purchase Protection, which protects eligible purchases from fraudulent charges, could become a key differentiator for payment processing companies and present an opportunity for disruptive innovation in the ecommerce industry.
Industry Implications
1. Ecommerce - The integration of Venmo as a payment option for Amazon, as well as other ecommerce retailers, presents an opportunity for disruptive innovation in the ecommerce industry.
2. Payment Processing - The expansion of accepted payment methods to platforms like Venmo presents an opportunity for disruptive innovation in the payment processing industry.
3. Mobile Payment - The integration of Venmo into platforms like Amazon presents an opportunity for disruptive innovation in the mobile payment industry.
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