Starting this week, Venmo users can shop on their mobile phone and make purchases at more than two million U.S. retailers via the mobile web, according to a press release.

The new feature enables Venmo users to shop at millions of merchants that accept PayPal — such as Lululemon, Forever 21, and Foot Locker — using their Venmo balance or linked credit card, debit card, or bank account.

At launch, Venmo customers will receive a notification in their Venmo app inviting them shop. Eligible purchases made with Venmo qualify for purchase protection, which may provide a full refund if customers don't receive an item or it's significantly different than the description.

"Offering a way to pay at millions of retailers is a major step in the evolution of Venmo," Bill Ready, COO of PayPal, said in the release. "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."

Businesses can now offer Venmo as a mobile payment option through the PayPal and Braintree platforms.