Announcing its third-quarter revenue, PayPal said that retail giant Amazon will introduce a Venmo checkout option for users in the U.S.
This means that Amazon shoppers now have the advantage of linking their accounts to Venmo for various purchases made on Amazon’s website or mobile app.
Commenting on the partnership, Ben Volk, Director of Global Payment Acceptance at Amazon, said: ‘We understand our customers want options and flexibility in how they make purchases on Amazon. We’re excited to team up with Venmo and give our customers the ability to pay by using their Venmo accounts, providing new ways to pay on Amazon.”
The partnership has led to speculation about a possible cryptocurrency payment on Amazon, as the company has previously expressed an interest in virtual currency payments and Venmo has recently expanded its reach into cryptocurrency transactions.
PayPal, however, rejects such speculation, saying that the partnership currently excludes transactions with cryptocurrencies.
The company said: “Today’s announcement is solely about enabling Venmo customers in the U.S. to pay with Venmo at checkout. We look forward to continuing to grow this relationship but have nothing more to share at this time.”