MoonPay Adds Venmo as Payment Option: Empowering 60M Users

18-10-2024 By: Sakshi Jain

MoonPay Partners with Venmo to Simplify Crypto Funding

MoonPay has introduced Venmo as a payment option for eligible US users, enabling them to fund their accounts seamlessly. This move aims to enhance user experience by providing a familiar payment method alongside existing options.

MoonPay Adds Venmo as a Payment Option For US Users

US-based crypto payments firm MoonPay has announced that eligible users can now use Venmo to fund their accounts.

This new integration allows Venmo’s 60 million active users to conduct transactions on the MoonPay platform, utilizing their Venmo balance, bank accounts, credit cards, and debit cards linked to Venmo.

The addition of Venmo aims to provide a wider range of payment options, making it easier for users to engage with cryptocurrency transactions on the MoonPay platform.

This development follows a recent partnership between PayPal and MoonPay, which similarly enabled users to fund their accounts via PayPal. The Venmo option is gradually rolling out to MoonPay’s US-based users and partners.

However, it will not be offered in New York and Texas. By incorporating Venmo, MoonPay is responding to the growing demand for accessible and familiar payment methods, thereby facilitating entry into the cryptocurrency space.

About Venmo

Venmo is a widely used digital wallet service with approximately 60 million active users in the US. It enables users to send and receive money, pay for goods and services, and make peer-to-peer transactions quickly and conveniently. Venmo's popularity is attributed to its user-friendly interface and social features.

MoonPay's Recent Integration, Partnerships, & Variety of Payment Options

In September 2024, Bitcoin.com announced a partnership with MoonPay, allowing users to buy and sell cryptocurrencies via its global wallets. This collaboration established MoonPay as the sole payment provider for Bitcoin.com, enhancing the buying and selling process for users through various major payment methods.

Earlier, in July 2024, MoonPay partnered with Mesh to streamline cryptocurrency deposits and transfers from exchanges. Moonpay partnership enables users to purchase cryptocurrency using fiat and existing crypto from centralized exchanges like Coinbase, making it easier to enter the crypto market.

MoonPay offers a range of payment options, including debit and credit cards, bank transfers, PayPal, Apple Pay, Google Pay, and specialized local methods, ensuring users have flexible choices when funding their accounts.

Conclusion

With the integration of Venmo, MoonPay continues to prioritize user experience by offering accessible payment methods. This development, alongside strategic partnerships, positions MoonPay as a leading player in the evolving cryptocurrency payments landscape.

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