Amazon Removes Venmo as Payment Option, PayPal Shares Slide

Amazon is dropping Venmo as a payment option starting next month, but customers can still use Venmo debit or credit cards on the platform. The decision comes as Amazon aims to drive profitable revenue growth in its payment services. Venmo, which was acquired by PayPal in 2013, has been added as a payment option by various brands, including McDonald's, Starbucks, and Uber.