Braintree, an Accel-backed online payments provider, announced that it now is processing more than $8 million in online credit card payments daily, which is 268 percent of the same quarter of last year. The company is on track to process more than $3 billion in 2011.
Braintree, which just raised $34 million from Accel Partners, essentially 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. BrainTree has become a one-stop-shop for all the services a business needs to receive payments from anywhere in the world. The company’s clients include Airbnb, LivingSocial, OpenTable, Animoto, Lookout, Shopify, Brightcove, Hotel Tonight, GoMobo, 37Signals, and GitHub.
Part of this growth, says the company, comes from overseas, where Braintree has expanded its footprint in Europe, Australia, Asia Pacific and the Middle East. Braintree says international transactions now make up 15 percent of the company’s processing volume, and the startup is adding new merchants at a pace of 100 per month.
Of course, for basis of comparison, PayPal is now processing a whopping $315 million in online payments per day.