EBay to add Pristine Additional Pay System by Attaining – Braintree

October 5, 2013 | By | Reply More

There was time when people have to travel long distances to get particular special thing from that specific place. Gradually the trend changed all the things are now available almost everywhere. But still there are some brands which are not available in your city or any particular thing. But now we are blessed with the internet facility. Internet has made the world a small place to shop, to roam, to visit, to sell, find friends or stay connected with relatives or just anything.

EBay vs Braintree

Online shopping, selling, buying, renting has changed the world shopping strategies. EBay is one the famous and profound name which provides wide platform for its clients to buy or shop anything. You can shop from the cheapest items to the most luxurious branded items, as per your budget and like. Moreover it provides an efficient online payment system via Paypal.

On the other hand Braintree has rendered assistance to various companies such as GitHub, Uber, Airbnb, LivingSocial, Rovio, OpenTable, Fab, Heroku, TaskRabbit etc. It is a renowned name which proffers a gateway services. Braintree was founded in year 2007 in Chicago by Bryan Johnson who gained $70 million from Accel partners, Greycroft partners, New Enterprise Associates and other venture capital firms.

Its services permit mobile app designers to present in-app payment options for its clients, so that customers can enjoy online shopping through an easy mobile app. It grants an API to developers so that exact and appropriate encryption, backend fraud detection and processing services can be offered to clients.

Chicago based company, Braintree is easily interfaced with any iOS, Android and Windows Phone. Thus almost all the users can handle the online shopping easily and quickly. Braintree prices 2.9% of the value of purchase and additionally 30% to developers. The company even controls PCI payment cards agreements for distinct credit card companies. The payment to app designers and sellers of in-app shopping is also transferred using Braintree. In addition to this Braintree also produces IRS paperwork. Braintree refers technology to a remarkable list of companies to facilitate them process payments on the Web and mobile devices.

EBay proclaimed that it has purchased the payment service startup Braintree in $800 million cash. Braintree will merge with eBay’s PayPal payment network. Not only this, eBay will also gain Braintree’s existing clients involving room rent service Airbnb, angry bird developer Rovio and LivingSocial, ride sharing service Uber etc.

Although Braintreewill also persist to run as an individual service within PayPal under CEO of Braintree Bill Ready with his previous employee team. The annual processes of payments by Braintree are nearly $12 billion, out of which 1/3 is generated from mobile payments. David Marcus, CEO PayPal, told that PayPal has always kept its system ungraded from time to time and resolved many issues. Thus addition of Braintree will help both of them to enhance clients and provide them better and fast services.

Braintree has recently taken Venmo which was a popular app letting people pay each other via text messages. This has added more clients and efficient services to its existing customers. Braintree is the newest addition to eBay’s shopping cart to impress its consumers. Furthermore company has freshly gained a bar code scanning app “Red Laser”, a recommended engine ”Hunch”, a social shopping site “Svpply”. With the blending of PayPal and Braintree both will be get benefited with each other’s services.

As per the sources the deal of eBay acquiring Braintree is under regulatory approval process and the deal is estimated to get close around the fourth quarter, nearly before the end of year 2013.

Category: Apple

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