Amazon has rolled out Venmo, the payment service of PayPal that allows users to send money to one another, as a payment option at checkout on its platforms.
Starting with its US-based customers, the feature will be available in the Amazon app and on amazon.com, giving users more options to pay for their order.
At the moment, the company accepts and supports credit and debit cards, store cards, HSA and FSA accounts, as well as EBT cards.
- Venmo has more than 70 million users as of 2021, mostly located in the U.S.
- In 2021, Venmo processed $230 billion in total payment volume, a 44% increase year-on-year.
- Venmo made approximately $850 million in 2021, an 88% increase on 2020 revenue.
- Venmo was acquired by Paypal in 2013 for $800 million.
- Venmo's net worth is estimated at $38 billion, up $23 million from 2018.
*All data are based on figures from company data, Statista, The Street, Fortune, Fast Company, and Techloy Research.