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    Braintree Extends Merchant Payments To Mobile Apps

    Leena Rao

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    Leena Rao is currently a Senior Editor for TechCrunch. She recently finished graduate school at the Medill School of Journalism at Northwestern University, where she studied business journalism and videography. From 2004 to 2007, she helped lead Congresswoman Carloyn Maloney’s community outreach and relations efforts in New York City. She graduated from Columbia University in 2003, where she was... → Learn More

    Tuesday, February 21st, 2012
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    braintree-payment-solutions

    Braintree, an online payments provider, is debuting a set of new tools for mobile app developers that allow merchants to accept payments within a mobile app, rather than through a web browser. For background, Braintree powers and automates online payments for merchants and companies online. The company provides a merchant account, payment gateway, recurring billing, credit card storage, support for mobile and international payments, and PCI Compliance solutions.

    The new offering from Braintree helps developers avoid PCI compliance issues by encrypting sensitive credit card data when it is entered by the user on their mobile device. The encrypted data is passed from the merchant’s server to Braintree for processing, and only Braintree can decrypt the information using a private key, preventing the merchant from being exposed to sensitive credit card data. The libraries support both mobile phones as well as tablet devices running Android, iOS, and Windows Phone 7 operating systems.

    Braintree maintains that the customer entering the credit card information on the app is the last person to see it. Other mobile app payments solutions typically use a web browser masked as an app, says the company.

    Braintree’s client list includes LivingSocial, 37signals, OpenTable, Fab.com, GitHub, Airbnb, Heroku, Engine Yard, Animoto, Shopify and HotelTonight. Braintree is processing more than $4 billion in annual credit card volume and is adding more than 100 new merchants a month. The company also raised $34 million in funding last year from Accel.


    Crunchbase

    Company: Braintree
    Website: braintreepayments.com
    Launch Date: October 2007
    Funding: $69M

    Braintree is the fastest growing payment platform for online and mobile businesses, offering all the tools merchants need to accept payments and provide consumers a frictionless experience at checkout. Braintree provides merchants with a secure payment gateway, merchant account, recurring billing and credit card storage, as well as industry-leading customer service and an easy-to-integrate API. Braintree operates internationally, and allows merchants in 40 countries in North America and Europe to accept payments in over 130 currencies. Braintree’s subsidiary, Venmo,...

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