Shopify Adds Venmo Payment Option For US Merchants
Shopify has added a Venmo payment option for US Shopify merchants using PayPal Checkout. By accepting Venmo directly in your online store, users can complete their purchase with just a few clicks. Providing customers with a familiar payment method can reduce abandoned carts and increase sales for your business.
Venmo, owned by PayPal, is a mobile digital wallet that provides its users with a social way to make a purchase, split payments or pay friends on Venmo, avoiding the need for cash. Venmo users can choose to share what they buy with their network, which can then view, comment on, and like the purchases in their feed. Venmo has quickly become one of the most popular peer-to-peer (P2P) payment methods, especially with millennials, and it’s also used by over two million U.S. retailers as a direct payment option.
If you are based in the United States and already support PayPal Checkout, the Venmo payment option will automatically appear as a payment option for buyers who have chosen to use Venmo as a payment option. Purchases made through Venmo will appear as PayPal payments in your orders report.
“Today, 67% of purchases made in Shopify stores are on mobile, and with Venmo’s growing user base, impressive network effects and strong mobile adoption, this is a great new way to facilitate the purchase by your customer. “