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Amazon is pretermit Venmo as a payment selection next month , the PayPal owned nomadic defrayal service announced on itswebsite . The prescribed announcement come as Amazon apprize user last nightvia emailthat Venmo will no longer be accept on Amazon.com starting January 10 , 2024 . Amazon will still , however , accept Venmo debit entry and credit menu .
“ Due to recent changes , Venmo can no longer be added as a payment method acting , ” Venmo ’s notification on its internet site reads . “ Venmo will remain available to users who currently have it enabled in their Amazon wallet until 01/10/24 . ”
PayPal spokesperson Joshua Criscoe told TechCrunch in an email that “ Venmo and Amazon have agreed to incapacitate Venmo as a defrayal selection to make up on Amazon at this time . Customers can persist in to add their Venmo debit card or credit wit to their Venmo wallet to pay on Amazon . We have a strong relationship with Amazon and look forrard to carry on to build on it . ”
Since the news was announced , PayPal ’s share have neglect by around 2 % .
The reversal comes just over a yr after Amazon announced that it would startallowing customersto make defrayal through Venmo on its website . At the meter , the online retail giant said it need to declare oneself customers payment alternative that were convenient and easy - to - use .
For Venmo , the deal mean that the company could move beyond P2P payment and get its tax income through dealing fee through retail leverage . Although the consolidation did n’t wave out until October 2022 , PayPal announced that it had reached a deal with Amazonback in 2021that would allow drug user to give with Venmo . It then took a year for the integration to revolve out .
Amazon spokesperson Alyssa Bronikowski told TechCrunch in an e-mail that “ client can still use nearly a twelve other payment pick , such as debit entry cards , acknowledgment board , match accounts , or installments to pay for their orders . ” Amazon offers differentpayment methodsfrom networks like Visa , Mastercard , American Express , JCB , Discover and more .
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Venmo gets a new way to split expenses among groups
