Amazon is dropping Venmo as a cost choice subsequent month, the PayPal owned cellular cost service introduced on its web site. The official announcement comes as Amazon notified customers final night time through electronic mail that Venmo will now not be accepted on Amazon.com beginning January 10, 2024. Amazon will nonetheless, nevertheless, settle for Venmo debit and bank cards.

“Because of latest adjustments, Venmo can now not be added as a cost technique,” Venmo’s discover on its web site reads. “Venmo will stay accessible to customers who presently have it enabled of their Amazon pockets till 01/10/24. ”

For the reason that new was introduced, PayPal’s shares have dropped by round 2%.

The reversal comes simply over a 12 months after Amazon introduced that it could begin permitting prospects to make funds via Venmo on its web site. On the time, the net retail large stated it wished to supply prospects cost choices that have been handy and easy-to-use.

For Venmo, the deal meant that the corporate might transfer past P2P funds and develop its income via transaction charges via retail purchases. Though the combination didn’t roll out till October 2022, PayPal introduced that it had reached a take care of Amazon again in 2021 that will permit customers to pay with Venmo. It then took a 12 months for the combination to roll out.

Amazon has not disclosed why it has determined to now not supply Venmo as a cost technique.

Amazon spokesperson Alyssa Bronikowski informed TechCrunch in an electronic mail that “prospects can nonetheless use practically a dozen different cost choices, corresponding to debit playing cards, bank cards, checking accounts, or installments to pay for his or her orders.”