Date
24 November 2017
Paypal's Venmo digital wallet is being extended for online retail purchases in the United States. Photo: Bloomberg
Paypal's Venmo digital wallet is being extended for online retail purchases in the United States. Photo: Bloomberg

PayPal rolls out Venmo payments to US retailers

PayPal Holdings said on Tuesday that more than two million US retailers will be able to accept payments through its mobile app Venmo starting this week, Reuters reports.

Venmo users will be able to use their app balance or linked cards and bank account to shop on the mobile sites of almost all merchants that accept payments with PayPal, the report said. 

Venmo, which has been part of PayPal since 2013, is one of the most popular mobile applications to make person-to-person payments in the United States. 

Early last year, PayPal started slowly introducing the ability to pay select businesses with Venmo.

“At Venmo from the very early days our vision was to always let you use it for whatever you want to buy,” Ben Mills, head of product at Venmo, told Reuters in an interview.

The company will be charging merchants fees for processing Venmo payments, Mills said, adding that the service’s ease of use could help increase their sales.

Retail purchases using Venmo will be covered by PayPal’s purchase protection scheme, where customers may get refunds if they do not receive a product or it is different than described.

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RC

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