This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.
Uber and PayPal announced on Thursday the two companies will be collaborating to roll out an option for Uber customers to pay with their rides with their Venmo balance in “coming weeks.”
When the feature goes live, “Pay with Venmo” will pop up as a payment option within the ride-sharing app’s menu.
Uber said that more than 6 million people mentioned the ride-sharing company in Venmo transactions in 2017, presumably splitting rides with friends. The two companies contend this collaboration will simplify that fare-splitting process. Uber customers will also be able to pay for UberEATS, the company’s food delivery venture, with PayPal-owned Venmo, too.
Better together: @Uber and @venmo – we are making paying for your Ride or EATS just a little easier. https://t.co/JLjYpHJUtb
— dara khosrowshahi (@dkhos) July 12, 2018
“Adding Venmo as a way to pay within Uber and UberEATS furthers our mission to provide a seamless way to pay for the services that matter most to our customers,” PayPal COO Bill Ready said in a statement.
Uber is the first ride-sharing company to directly feature a Venmo payment option within its app. But, the agreement is not exclusive, so Uber’s top competitor, Lyft, could also potentially add the option down the line.
H/T: Tech Crunch
Know before you go.
News and deals straight to your inbox every day.
NEW INCREASED OFFER: 60,000 Points
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.
