https://www.pymnts.com/amazon-payments/2023/amazon-will-discontinue-venmo-payments-in-january/ #amazon #payments #venmo #paypal
Focusing on soap dispenser technologies
Does anyone even use Venmo for Amazon purchases?
probably don't have a significant number of users. and users have many other options.
I think the deal was not very profitable for PayPal and most likely the traction there was too low to continue. With new CEO at the helm, we are getting out of deals that don't give us margin expansion. That's how I read it.
All these are assumptions. Let me tell Amazon signed a big deal with Stripe for payments. Conflict of interest so Venmo was asked to quit. It was lot more profitable for PayPal compared to many other negative businesses.
Venmo would never have given up Amazon. Amazon must of decided that Venmo’s ROI was not meeting expectations. The bidirectional news was just to safe face for Venmo
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amazon makes decisions that dont make sense because of poor leadership. It can be as stupid as the guy who worked on it quit and nobody knows how to use the code base.