JetBlue is the first airline to accept payments from the peer-to-peer payment app, which is owned by PayPal. Like Apple Pay, Google Pay, or PayPal itself, Venmo lets you complete a transaction without having to dig out your credit card or input your financial details into the website.
Originally set to kick off at the beginning of 2022, the IRS planned to implement a new reporting rule that would require third-party payment apps, like PayPal, Venmo or Cash App to report income of over $600 or more per year to the tax agency. The IRS delayed this new reporting requirement in 2022 and again in 2023.
In an announcement last week, JetBlue says it's the first airline to accept payment for a plane ticket through Venmo. Many airlines already let you use PayPal (which owns Venmo), but this is the first airline partnership with the popular peer-to-peer payment platform.
( NewsNation) — JetBlue recently announced it has become the first airline to allow travelers to pay through Venmo. The feature is currently available on the company’s website and will soon be available on the JetBlue mobile app.
As the first airline to accept Venmo payments, JetBlue is also the first to contend with online fraud that's common with any digital marketplace.
JetBlue announced this week that it will now accept Venmo payments, a first for the airline industry. The new arrangement has many advantages but also a few uncertainties, especially for travelers who live for their credit card’s bonus points.
Venmo payment options are the latest announcement in a broader effort from JetBlue to enhance its services and boost profits. The struggling low-cost carrier has searched for new revenue streams as larger airlines introduce their own budget options, increasing competition for those flyers.
In the first-ever partnership between an airline and Venmo, U.S. customers can now pay for their JetBlue flight.
Venmo payment options are available on JetBlue website, and will roll out on carrier's mobile app in coming months.
The IRS currently requires any third-party payment apps like Cash App and Venmo to send a 1099-K to the IRS and individuals if they earned more than $20,000 in commercial payments
Payment apps are now required to send payment information to the IRS. If you use these apps you may owe taxes this year.