The Venmo emblem displayed on a smartphone.
Pavlo Gonchar | SOPA Photos | LightRocket through Getty Photos
Amazon notified customers late Wednesday it’ll quickly cease accepting Venmo as a cost technique.
The corporate stated it’ll now not let customers pay utilizing Venmo starting Jan. 10, in keeping with a discover despatched out to Amazon clients. Amazon will nonetheless settle for Venmo debit and bank cards, the discover states. Venmo introduced the transfer in a separate discover posted to its web site.
“As a result of latest modifications, Venmo can now not be added as a cost technique,” the corporate stated. “Venmo will stay out there to customers who presently have it enabled of their Amazon pockets till 01/10/24.”
Shares of PayPal, which owns Venmo, slid greater than 1% in early buying and selling Thursday.
The transfer is an abrupt reversal. Amazon introduced final October it could add Venmo as a cost technique at checkout, giving customers extra choices to pay for his or her purchases. Venmo is a well-liked cost service that lets customers immediately ship cash to at least one one other.
An Amazon spokesperson confirmed the change and stated customers will nonetheless be capable to use “almost a dozen different cost strategies.” The corporate did not elaborate on why it’s eradicating Venmo as a cost technique.
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