🦧 venmo x amazon
💰 venmo x amazon
icymi: paypal owns venmo
in 2013, paypal acquired braintree, which owned venmo at the time
since then, venmo’s user base has grown to 80m+ as of q4 ‘21
launching this black friday
amazon announced that shoppers can now use venmo as a method of payment
the feature will be rolled out to a portion of customers this week and “will be available to all us customers by black friday”
amazon's available methods of payment is extensive – credit and debit cards, store cards, hsa and fsa accounts, ebt cards, affirm
other e-commerce giants like shopify and online retailers like lululemon are already allowing venmo as a form of payment, so this announcement doesn't come off as too big a surprise
for paypal, though, this means great news
PYPL 0.00 rose nearly 6% on tuesday after the announcement (it is still down 54% ytd though)
imo: the partnership will likely act as a meaningful catalyst to the growth of its core business
while paypal’s shares are drastically down this year, paypal's shown significant growth in annual revenue figures for four (and potentially five by end of year) consecutive years
the digital payments industry isn’t disappearing anytime soon, and paypal is consistently working towards remaining as a dominant player in the space, and the drawn down current share price is a matter of valuation and market sentiment, not necessarily a reflection of paypal’s growth prospect
paypal: PYPL 0.00
amazon: AMZN 0.00
💡 something im thinking about
that's all, folks 🐒
