Venmo will now not be a direct fee choice on Amazon.com Inc.’s web site starting in mid-January, the businesses mentioned.
Amazon
AMZN,
rolled out a Venmo fee choice final fall, giving customers the power so as to add their Venmo accounts to their Amazon profiles and use that for transactions. Now that choice will likely be going away on Amazon’s web site and cell app beginning Jan. 10.
“Customers can still use nearly a dozen other payment options, such as debit cards, credit cards, checking accounts, or installments to pay for their orders,” Amazon mentioned in a press release Thursday.
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A spokesperson for PayPal Holdings Inc.
PYPL,
which operates Venmo, mentioned that the 2 corporations “have agreed to disable Venmo as a payment option to pay on Amazon at this time.” Customers can add their Venmo credit score or debit playing cards to their Venmo wallets to pay on Amazon, the spokesperson mentioned.
“We have a strong relationship with Amazon and look forward to continuing to build on it,” PayPal’s assertion continued.
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PayPal is seeking to refocus its enterprise below its new management. Chief Executive Alex Chriss mentioned on its newest earnings name that the corporate has been “doing too many things.”
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Shares of PayPal ended Thursday’s session down 1.8%, whereas shares of Amazon closed up 1.6%.
Source web site: www.marketwatch.com
