Braintree is a

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = List of sovereign states, Count ...

-based company that primarily deals in mobile and web payment systems for

e-commerce E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain manag ...

companies. The company was acquired by

PayPal PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper ...

on September 26, 2013.

History

Braintree was founded by Bryan Johnson in 2007. By 2011, the company ranked 47th on Inc. magazine's annual list of the 500 fastest-growing companies. In that year, Bill Ready joined the company as CEO. Johnson remained chairman. In 2012, Braintree acquired Venmo for $26.2 million. A year later,

, then part of eBay, acquired Braintree for $800 million. In August 2015, PayPal acquired Chicago-based mobile commerce company Modest and rolled Modest's products into Braintree's offerings. Braintree first expanded internationally in 2012, when it announced it would begin providing services in

Australia Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. With an area of , Australia is the largest country by ...

. The company began serving

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

and

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by to ...

in August 2013 and announced support in

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special ...

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...

, and

Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federal constitutional monarchy consists of thirteen states and three federal territories, separated by the South China Sea into two regions: Peninsular Malaysia and Borneo's East Mal ...

in 2015. By late 2015, Braintree was processing nearly $50 billion in authorized payment volume, up from $12 billion at the time it was acquired by PayPal, and had 154 million cards on file, up from 56.5 million. In 2016, Braintree announced that it will enable its European merchants to begin accepting purchases via China UnionPay, China's state-run card network. Now Braintree processes payments in 45 countries and regions.

Products and services

Braintree provides businesses with the ability to accept online and in-app payments. On October 1, 2012, they launched instant signup, streamlining the signup process for US merchants to a few minutes. Braintree announced the v.zero SDK in July 2014. It allows the automatic integration of the shopping cart with

amongst other payment types.

GitHub GitHub, Inc. () is an Internet hosting service for software development and version control using Git. It provides the distributed version control of Git plus access control, bug tracking, software feature requests, task management, cont ...

and

ParkWhiz ParkWhiz is an e-parking service that allows users to book parking spaces before reaching their destinations. ParkWhiz headquarters is located in Chicago, Illinois. Origins ParkWhiz was founded in 2006 by Aashish Dalal and Jon Thornton. The com ...

are among the companies that launched with the v.zero SDK, which supports "One Touch Payments". It does not require those users to create an account on an e-commerce site or enter credit card details every time they want to buy something. The concept of One Touch is based on a prior product called Venmo Touch, which was developed in conjunction with Venmo, the payment service Braintree bought in August 2012. Venmo Touch was the first single-touch mobile buying experience to hit the market. In September 2014, the company announced a partnership with

Coinbase Coinbase Global, Inc., branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Coinbase is a distributed company; all employees operate via remote work and the company lacks a physical headqua ...

to accept Bitcoin.

Integration

Braintree provides client libraries and integration examples in

Ruby A ruby is a pinkish red to blood-red colored gemstone, a variety of the mineral corundum ( aluminium oxide). Ruby is one of the most popular traditional jewelry gems and is very durable. Other varieties of gem-quality corundum are called ...

, Python, PHP,

Java Java (; id, Jawa, ; jv, ꦗꦮ; su, ) is one of the Greater Sunda Islands in Indonesia. It is bordered by the Indian Ocean to the south and the Java Sea to the north. With a population of 151.6 million people, Java is the world's mo ...

, .NET, and

Node.js Node.js is an open-source server environment. Node.js is cross-platform and runs on Windows, Linux, Unix, and macOS. Node.js is a back-end JavaScript runtime environment. Node.js runs on the V8 JavaScript Engine and executes JavaScript cod ...

; mobile libraries for iOS and Android; and Braintree.js for in-browser card encryption. Braintree also works with most e-commerce and billing platforms, including BigCommerce, WooCommerce, and

Magento Magento is an open-source e-commerce platform written in PHP. It uses multiple other PHP frameworks such as Laminas (formerly known as Zend Framework) and Symfony. Magento source code is distributed under Open Software License (OSL) v3.0. Ma ...

Credit card data portability

Braintree initiated the credit card data portability standard in 2010, which was accepted as an official action group of the DataPortability project. Credit card data portability is supported by an opt-in community of electronic payment processing providers that agree to provide credit card data and associated customer information to an existing merchant upon request in a payment card industry (PCI) compliant manner.

References

External links