Amazon Removes PayPal-backed Venmo as Payment Option, PYPL Stock Drops Nearly 2%
While Amazon did not provide the actual reason for not supporting Venmo as a payment option, the notable rise of web3 payment platforms could be a major factor.
Facebook Inc. is trying to get in the game of online payment systems like PayPal or Venmo by introducing a free friend-to-friend service of its own, the company announced today.
While Amazon did not provide the actual reason for not supporting Venmo as a payment option, the notable rise of web3 payment platforms could be a major factor.
This lawsuit adds to Apple’s recent antitrust challenges. In September, a US judge ruled that payment card issuers could sue Apple over alleged anti-competitive practices related to its Apple Pay mobile wallet.
Despite entering the list of approved digital assets, PayPal’s PYUSD stablecoin may not experience the instantaneous adoption initially anticipated following the launch.
Individuals with compatible external wallets, as well as merchants who embrace PYUSD for payments, will be able to receive transfers from Venmo users.
Although there are no specific details on what to expect from Twitter following the money transmitter licenses, insiders believe that Twitter Payments will start offering fiat currency services.
Paypal currently comes off as one of the dominant fintech firms in the United States, and it has a strategy of expanding its available product suite to meet all classes of users.
Securities tokenization is a blockchain technology that has been growing strongly in conjunction with the real world lately. The tokenization of real assets is now actively gaining momentum.
Amazon reached an agreement with Venmo for customers to use the mobile payment platform as a checkout option on the e-commerce giant’s platform.
Venmo credit cardholders can now buy crypto including BTC, LTC, ETH, and BCH, using cashback from other purchases, depending on purchase category.
In the press release, Venmo said that all crypto transactions are managed in the Venmo app.