Venmo’s 60 million users can now fund transactions on the Moonpay platform, thanks to a new integration announced by Paypal. U.S. users can use Venmo balances, linked bank accounts, or cards to buy and sell cryptocurrencies through Moonpay, expanding payment flexibility. However, this option is unavailable in New York and Texas, continuing Paypal’s push into digital assets.

Venmo Available for Moonpay Payments in US

Payment giant Paypal announced on Thursday that Venmo is now available as a payment option for Moonpay users in the U.S. Paypal, which owns Venmo, is expanding its integration with Moonpay, allowing users to fund their Moonpay accounts using Venmo balances, linked bank accounts, credit cards, or debit cards through Venmo. Paypal stated:

Now, Venmo’s more than 60 million monthly active users can seamlessly fund transactions on the Moonpay platform using their Venmo balance or linked bank account, credit card, or debit card in Venmo.

Venmo’s user base now has an additional way to complete transactions on the Moonpay platform. This integration comes after Paypal’s earlier partnership with Moonpay, which allowed users to fund their accounts directly via Paypal. Venmo provides similar convenience, although the new functionality is not available for users in New York or Texas.

Moonpay is a financial technology company that provides a platform for buying and selling cryptocurrencies and digital assets. According to Paypal:

This integration gives consumers a new way to use their Venmo accounts and offers Moonpay users the safety and convenience users have come to know from Venmo.

Paypal’s ownership of Venmo allows the platforms to expand their services in digital payments, including the crypto space. By adding Venmo, Moonpay continues to broaden payment options across its U.S. partner network, giving users more flexibility for funding transactions.

Source : Bitcoin News - Oct 18, 2024