Uber and Venmo Partner to Deliver a New Payment Experience

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180712005175/en/

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