- Marjorie van Elven |
Users of the Abercrombie & Fitch and Hollister iOs and Android apps can now pay for their purchases using Venmo, the person-to-person payment platform owned by PayPal.
“We are excited about our Venmo integration, as we know Venmo is an increasingly popular payment option among our Millennials and Gen Z customer bases”, said Joanne Crevoiserat, Chief Operating Officer of Abercrombie & Fitch Co., in a statement.
Founded in 2009 and acquired by PayPal in 2013, Venmo allows for users to quickly transfer money to one another via their mobile phones. Users can either link the app to their bank accounts or credit cards, or keep money directly on the app.
While it was first intended to provide an easy way for friends and family to split bills, PayPal has ambitious plans for the app, as it aims to both make it profitable and win the race against Apple Pay to become the biggest cashless payment platform in the United States. Last year, Venmo introduced its “Pay with Venmo” option, allowing users to pay for their purchases at more than 2 million merchants, including Uber and Forever 21. Retailers are charged a fee for the Venmo integration.