PayNearMe Tuesday announced that it has added PayPal and Venmo to its U.S. payment options.
The Santa Clara, California-based provider of payment platforms will soon make these digital wallet payment types available to customers seeking convenient and frictionless payments.
“Consumers are growing increasingly comfortable using mobile payments to purchase goods and services, as well as exchange money with friends and family,” said PayNearMe SVP Product and Support John Minor in a statement. “With the addition of PayPal and Venmo, we’re helping businesses meet customers where they are by enabling payments at anytime, anywhere, and in any way they want to pay, including credit, debit, ACH, Apple Pay, Google Pay, PayPal, Venmo or cash.”
According to PayNearMe’s release, PayPal has more than 400 million active accounts. A study conducted by PayPal indicated that 43% of U.S. consumers say using the platform to pay bills is important or very important. The same study showed more than 27% percent of consumers, notably 35% of Gen Z and millennial consumers, want the option of using Venmo to pay bills.
“Consumer adoption of PayPal and Venmo has grown exponentially since the beginning of 2020 and we expect it to become one of the fastest growing payment types for bill pay and other non-commerce transactions,” Minor said. “By adding PayPal and Venmo to our platform, PayNearMe clients across vertical markets can quickly and easily begin accepting these popular payment types, which will go a long way toward satisfying customers’ expectations.”
PayPal and Venmo disbursement options should be available to PayNearMe customers in the second quarter of 2022.
