Can you use Venmo on Amazon? The answer, finally, is yes! Amazon recently announced it will offer its customers the ability to select Venmo as a payment option in time for the holiday shopping season. Rollout has already begun for many Amazon accounts, and all U.S. customers will have this new payment option available by Black Friday.
Shopping on Amazon with Venmo is a simple and hassle-free way to pay, and takes very little time and effort to set up. Customers just add their Venmo account as a payment method to their Amazon account with a few taps, then select Venmo at checkout. They can also select Venmo as their default payment method to make all future transactions a breeze.
Venmo has all the security and safety Amazon customers are used to in their payment options. The transactions are protected by Amazon’s back-end technology and its A-to-z Guarantee, and now it includes the Venmo Purchase Protection policy.
Customers love choices when it comes to where and how to shop. Adding Venmo as a way to pay gives them a new chance to manage their money on their own terms, in a way that they can trust.
But what does this mean for Amazon sellers?
Adding Venmo to Amazon means customers have a new option for payment, making it even easier for them to complete a purchase. Easier purchases means more purchases, which translates to more sales and profits for sellers. And with both Venmo and Amazon being app-enabled, this also means easier purchases on-the-go.
Recent research by Netfluential and Edison Trends showed customers are 19% more likely to complete a purchase with Venmo over traditional payment methods. The same research found that the use of Venmo and digital wallets increased both shopping frequency and unplanned purchases, and helped close the sale against competitors.
The adoption of Venmo as a payment method also allows Amazon sellers to serve a younger, more tech-savvy community of customers, who more frequently shop from a smart device compared to a computer or even laptop. This, in turn, will help sellers broaden their potential customer base and allow them to reach more of their target audience.
The launch of this new payment method is a move that will help the Amazon seller community as well as its customers. It’s a refreshing change compared to other moves that actively hurt sellers, like the increases in FBA seller fees through the holiday season, or that may give customers an unbalanced advantage, like the “Helpful Content” algorithm.
For the new generation of consumers, accessibility is key, and adding Venmo to their dossier is just another way Amazon is meeting that requirement.
Venmo and Amazon’s new partnership is another announcement in a series of recent offerings that can help sellers thrive.
Check out how Carbon6 can help you make the most of these and all other potential sales boosts with our comprehensive suite of tools. From inventory management to ranking improvements, we’ve got something for every seller looking to grow, scale, and optimize their business.