Uber and Venmo Partner to Deliver a New Payment Experience

NEW YORK & SAN FRANCISCO--(BUSINESS WIRE)--Jul 12, 2018--Uber and Venmo today announced that they’re partnering to deliver a seamless new payment experience available with Uber and Uber Eats. More than six million payments on Venmo mentioned “Uber” in their description over the past year, making a seamless connection between the two apps a natural fit.

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Uber and Venmo Partner to Deliver a New Payment Experience (Graphic: Business Wire)

Uber customers in the United States ordering rides and food will soon be able to pay with their Venmo balance, linked bank account, credit card or debit card so they can easily split the cost with friends and family in the Venmo app, for no additional fee. Users can also share their purchases in their Venmo feed with custom emojis that are exclusive to the partnership, with Uber as the first company to have a branded emoji in the app.

“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,” said Bill Ready, Chief Operating Officer, PayPal. “Whether it’s splitting a ride home after a night out, or sharing a meal during a night in, paying with Venmo provides our customers with a convenient and fun way to split and share these experiences with friends.”

“Uber is always looking for unique new ways to provide an even better experience to our customers,” said Marco Mahrus, Head of Payment Partnerships, Uber. “With so many of our riders and eaters already turning to Venmo as a way to pay a friend back for that last ride or meal, we're proud to have built a seamless, easy-to-use connection between our apps.”

Venmo will be available as a payment method on Uber and Uber Eats apps to US customers in the coming weeks.

About Venmo

Venmo, a service of PayPal, Inc., is a leading mobile app in the U.S. used to move money between friends and family and pay at millions of retailers. Venmo makes payment a fun, social experience that eliminates the awkwardness that comes with cash or checks. For more information, visit  https://www.venmo.com.

About PayPal

Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal Holdings, Inc. (NASDAQ: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal's 227 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. 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. For more information on PayPal, visit https://www.paypal.com/about. For PayPal Holdings, Inc. financial information, visit  https://investor.paypal-corp.com.

About Uber

Uber’s mission is to bring reliable transportation to everywhere, for everyone. We started in 2010 to solve a simple problem: how do you get a ride at the touch of a button? More than eight years and five billion trips later, we’ve started tackling an even greater challenge: reducing congestion and pollution in our cities by getting more people into fewer cars.

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CONTACT: Venmo:

Juliet Niczewicz

Venmo Communications

jniczewicz@paypal.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA NEW YORK

INDUSTRY KEYWORD: TECHNOLOGY ONLINE RETAIL DATA MANAGEMENT INTERNET SOFTWARE TRAVEL TRANSPORTATION MOBILE/WIRELESS PROFESSIONAL SERVICES FINANCE RETAIL FOOD/BEVERAGE

SOURCE: Venmo

Copyright Business Wire 2018.

PUB: 07/12/2018 12:00 PM/DISC: 07/12/2018 12:01 PM

http://www.businesswire.com/news/home/20180712005175/en