Braintree, PayPal, is a Chicago-based company specializing in mobile and internet payment systems for e-commerce companies that PayPal acquired on September 26, 2013. Prior to the acquisition, it was funded by Accel Partners and New Enterprise Associates as lead investors .
Braintree provides its customers with a merchant account and payment gateway along with various related features.
Bryan Johnson founded Braintree of the University of Chicago in 2007.
At the end of 2011, he took over as CEO of Bill Ready. Less than a year later, Braintree Venmo earned $ 26.2 million.
On September 26, 2013, PayPal – then eBay – received Braintree for $ 800 million.
Braintree has announced that it will start providing services in Australia in November 2012 and expanded to Europe and Canada in August 2013. In mid-2015, Braintree announced support in Hong Kong, Singapore and Malaysia.
In August 2015, PayPal acquired a mobile trading company based in Chicago, Modest, and included Modest products in Braintree’s offer.
By the end of 2015, Braintree had processed nearly $ 50 billion in authorized payments, an increase of $ 12 billion when it was acquired through PayPal in 2013, with 154 million cards in the pool, or 56.5 million .
Braintree provides businesses with the ability to receive payments online or within their mobile app.
On October 1, 2012, Braintree started an immediate sign-up and streamlined the registration process for US merchants for a few minutes.
Braintree has announced the v.zero SDK in July 2014. The SDK allows the automatic integration of a shopping cart with PayPal among other types of payments. In September 2014, Braintree announced a partnership with Coinbase to adopt Bitcoin.
GitHub and ParkWhiz are among the companies that have launched with the v.zero SDK, which supports “One Touch Payments”. PayPal also allows one-time payments. This does not require these users to create an ecommerce account or enter credit card details each time they want to buy something. The One Touch concept is based on a previous product called Venmo Touch, which was developed in conjunction with Venmo, a Braintree payment service that was purchased in August 2012. Venmo Touch was the first mobile phone shopping experience on the market that allowed consumers to pay for one Touching More Apps on Your Mobile Device.
Braintree requires some development experience and coding knowledge for integration.
Braintree provides client libraries and integration examples in Ruby, Python, PHP, Java, .NET and Node JS; mobile libraries for iOS and Android; and Braintree.js for encrypting your browser cards.
Braintree also works with most leading e-commerce and billing platforms – including BigCommerce, Shopify, Magento and Wufoo.
Braintree will abstain from several major business categories, such as auctions, tours, games, ticket events, and charities, citing the difficulty of performing such business models.
In 2010, Braintree initiated the credit card portability standard, which was adopted as the official DataPortability Action Group. Credit card data portability is supported by an opt-in community of electronic payment service providers who agree to provide credit card data and related customer information to an existing merchant upon request in accordance with PCI.