For a long time now, users have been annoyed that the largest platforms in online shopping cannot find each other. But that is now changing: The PayPal payment service is getting a foot in the door for the first time on Amazon, PayPal has announced it on Monday.
PayPal is by far the most popular service when it comes to paying for products and services online. Only on the dominant trading platform, Amazon does not get any further here. Not surprising – PayPal has long been part of its competitor eBay. Now that this is finally history, new options seem to be slowly but surely opening up.
When PayPal presented its not exactly rosy balance sheet, they could at least show a corresponding glimmer of hope: The core service at Amazon is still not usable for payments, but at least one has now been able to conclude a contract for the subsidiary brand Venmo. The payment service, which is limited to the US market, will also be able to be used for purchases on Amazon from next year.
Venmo was originally started to facilitate smaller transactions among friends. The standard application here was the joint restaurant visit, during which one paid the collected bill and the individual sums were then settled via the Venmo app. However, the service has long outgrown this and three-digit billion amounts have long been shifted over the platform per quarter.
For PayPal, this means at least that the door to the large Amazon platform has been pushed open a little. One can assume that one day the core service will also be integrated if the cooperation with Venmo proves itself. Ultimately, this should also be of interest to Amazon, because the group is doing everything else to make shopping on its platform as easy as possible and thus attract the largest possible proportion of all orders.
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