PayPal stock jumps after Amazon enables Venmo payments ahead of holidays
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PayPal (NASDAQ:PYPL) shares climbed 5.4% in Tuesday morning trading after ecommerce giant Amazon (NASDAQ:AMZN) allowed some of its customers to use Venmo at checkout as the busy holiday shopping season nears.
The PayPal-Amazon deal was first announced after the payments titan released stronger-than-expected Q3 2021 earnings.

Venmo, a social payments app owned by PayPal (PYPL), will be available to all of Amazon's (AMZN) U.S. customers by Black Friday, which is the day after the Thanksgiving holiday.
âWe want to offer customers payment options that are convenient, easy to use and secure,â said vice president of Amazon Worldwide Payments. âWhether itâs paying with cash, buying now and paying later, or now paying via Venmo, our goal is to meet the needs and preferences of every Amazon customer.â
The move shows that Amazon continues to add more ways for shoppers to buy items on its website. In August 2021, Amazon said it will use Buy Now, Pay Later platform Affirm's (AFRM) technology to let customers use multiple payments for certain purchases.