When we buy something on Amazon, we usually need a credit or debit card to complete the transaction. Apparently in 2022 the e-commerce site will start accepting Venmo as well. The parent company of Venmo, PayPal, announced the news at an investor meeting this Monday.
Amazon will accept payments via Venmo
Venmo is one of the only ones third party applications which Amazon has added to its payment methods and is effectively a kind of alternative bank account for users. It is no coincidence that this is a service offered by PayPal, which is not yet accepted by Amazon, at least not directly.
Details on the partnership with Amazon are scarce right now, but if you have a US Venmo account, you will be able to see one official communication by PayPal, which explains that users will be able to use this payment system to make purchases on both the Amazon website and its mobile app, starting in 2022.
The company did not provide a more specific time frame or other information on how those transactions might work, simply stating that PayPal is still negotiating with Amazon regarding the details. In short, it seems that to find out how well Venmo will be integrated with the Amazon ecosystem we will have to wait a little longer.
In the meantime, it is worth noting that Venmo has recently implemented support for cryptocurrencies, which raises an interesting question: will we be able to pay for Amazon purchases via crypto? The prospect is undoubtedly interesting, even if in truth it is to be considered rather unlikely, at least for the moment.