If you’ve been using Venmo to shop on Amazon, you may be wondering about the recent change in Amazon’s payment policies. allintitle:when does amazon stop accepting venmo is a question many people in the USA are searching for, and we’re here to give you the most comprehensive, easy-to-read guide on this topic.
When Does Amazon Stop Accepting Venmo?
Amazon will stop accepting Venmo as a payment method starting January 10, 2024.
According to multiple sources, including Amazon, PayPal (Venmo’s parent company), and various news outlets, the ability to use Venmo for purchases on Amazon will end on January 10, 2024.
Who Will Be Affected?
- If you currently have Venmo linked to your Amazon wallet, you can still use it until January 10, 2024.
- After this date, Venmo will no longer be available as a payment method on Amazon.com or the Amazon app.
Why Is Amazon Discontinuing Venmo?
Amazon hasn’t provided an official reason, but there are a few possible explanations:
Amazon’s Focus on Its Own Payment System
Amazon has been expanding Amazon Pay, its own digital wallet service, which competes with Venmo. By encouraging customers to use Amazon Pay instead, Amazon can:
- Reduce reliance on third-party payment providers.
- Keep transactions within its ecosystem.
Fees and Business Agreements
Amazon and PayPal (Venmo’s parent company) may have had disagreements regarding:
- Transaction fees.
- Revenue-sharing models.
- Security policies.
Security and Fraud Concerns
Venmo is known for its peer-to-peer payment system, which has been targeted by scammers in the past. Amazon might prefer to limit potential fraud risks by removing Venmo as an option.
Encouraging Credit Card Use
Amazon earns money through credit card partnerships (like the Amazon Prime Visa), which offer cashback rewards and exclusive discounts to customers. By removing Venmo, Amazon might be pushing users to spend more using credit cards.
Alternative Payment Methods on Amazon
Since Venmo is going away, here are other ways you can pay on Amazon:
Debit & Credit Cards
- Visa
- Mastercard
- American Express
- Discover
Amazon Pay
- Amazon Pay lets you store your payment details securely and use them for faster checkouts.
Amazon Gift Cards
- You can buy Amazon gift cards online or at major retailers and use them as payment.
PayPal (Indirectly)
- Amazon does not accept PayPal directly.
- However, you can link a PayPal debit card or use PayPal to buy Amazon gift cards.
Buy Now, Pay Later (BNPL) Services
- Affirm (available on Amazon for select purchases).
- Installment plans with Amazon Store Card.
What This Change Means for Amazon Customers
The removal of Venmo as a payment method may impact certain customer groups differently.
Venmo-Only Users
- If you mainly use Venmo for online purchases, you’ll need to switch to another payment method.
- Consider transferring funds from Venmo to your bank account to use other payment options.
Cashback and Rewards Seekers
- Some people prefer Venmo because of cashback rewards on linked cards.
- If that’s you, look for an Amazon-branded credit card instead.
Young Shoppers & Budget-Conscious Users
- Venmo is popular among younger users who prefer split payments and easy money transfers.
- If you’re affected, you might need to adjust how you shop on Amazon.
FAQs:
Why did Amazon remove Venmo as a payment option?
Amazon has not given an official reason, but possible explanations include:
- Encouraging the use of Amazon Pay.
- Fee disputes with PayPal/Venmo.
- Security concerns.
- Promoting credit card usage.
Can I still use Venmo on Amazon after January 10, 2024?
No. Venmo will no longer be accepted on Amazon starting January 10, 2024.
What happens if I already have Venmo linked to my Amazon wallet?
You can continue using Venmo until January 10, 2024. After that, the option will disappear.
Will Amazon accept PayPal instead?
No. Amazon does not accept PayPal directly, but you can:
- Use a PayPal debit card to pay.
- Buy Amazon gift cards using PayPal.
What is the best alternative to Venmo for Amazon purchases?
- Amazon Pay (Amazon’s own payment service).
- Credit or debit cards (Visa, Mastercard, Amex, Discover).
- Buy Now, Pay Later services like Affirm.
Will Venmo still work for other online stores?
Yes! Venmo will still be available for other retailers, restaurants, and online purchases.
Can I still send money to friends on Venmo?
Yes! This change only affects payments on Amazon. Venmo will still work for peer-to-peer payments.
