All U.S. customers will be able to use Venmo to check out by Black Friday, the day after the Thanksgiving holiday that's typically one of the busiest for shoppers, the two companies said in a statement Tuesday. The move comes almost a year after the firms said they would pursue such a partnership.
"We want to offer customers payment options that are convenient, easy to use and secure," said Max Bardon, vice president of Amazon worldwide payments. "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."
Venmo's parent company, PayPal Holdings, is pushing to improve returns on the wallet. The company has looked to gin up acceptance of the platform as well as offer new services such as the ability to buy, sell and hold cryptocurrencies.
PayPal shares jumped 4.8% to $87.30 at 9:32 a.m. in New York.
Amazon, for its part, has been adding new capabilities to make it easier for consumers to make transactions on its site. The company last year agreed to add the buy now/pay later provider Affirm Holdings to its list of payment options.
