DENVER– Venmo users can now use the app to shop online.
The app allows users to send money directly to someone or request money from them.
Starting this week, Venmo users can pay for online purchases from more than 2 million retailers, including Lululemon, Foot Locker and Forever 21.
Users can make a purchase on their phone at any retail site that accepts Paypal, Venmo’s parent company.
“Our vision for Venmo is to not only be the go-to app for payments between friends, but also a ubiquitous digital wallet that helps consumers spend wherever and however they want to pay, regardless of device,” said Bill Ready, PayPal’s chief operating officer.
The shopping option works by tapping into PayPal’s existing payments network. When users are shopping on their phones, they can tap on the PayPal checkout button and will see an additional option to pay with Venmo instead.
As with other transactions on Venmo, users can choose to split the purchase with friends and share playful status updates about what was bought.
Analysts say the move should help expand Venmo’s market presence, which accounted for $8 billion worth of transactions in the second quarter of this year.AlertMe