In mid-January, Venmo will no longer be available as a direct payment option on Amazon.com Inc.’s website and mobile app, according to a joint statement from the two companies.
Amazon introduced the Venmo payment option last fall, allowing users to link their Venmo accounts to their Amazon profiles for easy transactions. However, starting from January 10th, this payment option will no longer be supported.
Amazon assured customers that they still have almost a dozen other payment alternatives to choose from, including debit cards, credit cards, checking accounts, and installments.
A spokesperson for PayPal Holdings Inc., the operator of Venmo, emphasized that the decision to disable Venmo as a payment option on Amazon is mutual. Nonetheless, customers can still add their Venmo credit or debit cards to their Venmo wallets as an alternative way to pay on Amazon.
PayPal expressed its commitment to maintaining a strong relationship with Amazon and continuing to strengthen their partnership in the future.
PayPal’s recent change in leadership has prompted a refocusing of the company’s business strategies. CEO Alex Chriss acknowledged that PayPal had been spreading itself too thin during their latest earnings call.