Uber and Venmo Inc Announce Partnership to Deliver a New Enhanced Payment Experience

Uber, and Venmo, the leading payment app in the U.S owned by PayPal, announced on Thursday (July 12) announced that they are partnering to deliver a new payment experience to its users. It will be available with Uber and Uber Eats.
In an official press release, PayPal shared that during the past year more than six million payments on Venmo mentioned “Uber”, which gave signs that the integration between the two apps will be a good fit. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies.

According to the announcement, customers in the U.S who are ordering food and transfers via Uber can pay with a linked bank account, credit card or debit card and in a couple of weeks they will also be able to pay with their Venmo balance. As a result of this easy-to-use app connection, users can easily split the cost with friends and colleagues without paying any additional fees.

Moreover, according to the company announcement, users will be able to share their purchases in their Venmo feeds by suing emojis that are exclusive to the partnership.

Bill Ready, the Chief Operating Officer at PayPal, says “Adding Venmo as a way to pay within Uber and Uber Eats furthers our mission to provide a seamless way to pay for the services that matter most to our customers.” He also states that he payment with Venmo will provide customers with a convenient and fun way to split and share their experiences with friends, regardless of whether they are splitting a ride home or sharing a meal.

Uber is the first company to have branded emoji in the app. This partnership will eliminate the awkwardness that comes with cash and checks when paying for Uber rides and Uber eats.