Uber Is Rolling Out Pay With Venmo Feature
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.
“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