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{{short description|American company}}
{{short description|American company}}
{{Use mdy dates|date=June 2024}}
{{multiple issues|
⚫
{{Infobox company
{{tone|date=October 2016}}
{{Advert|date=January 2018}}
{{notability|Companies|date=May 2021}}
}}
⚫
{{Infobox company
| name = Braintree
| name = Braintree
| logo = Braintree logo.svg
| logo = Braintree logo.svg
| type = [[Division (business)|Division]]
| type = [[Division (business)|Division]]
| industry = [[Payment service provider]]
| industry = [[Payment service provider]]
| founded = {{start date and age|2007}}
| founded = {{start date and age|2007|10|22}}<!--Illinois state file number: 01995472-->
| founder = [[Bryan Johnson (entrepreneur)|Bryan Johnson]]
| founder = [[Bryan Johnson]]
| parent = [[eBay]] (2013–2014)<br/>[[PayPal]] (2014–present)
| parent = [[eBay]] (2013–2014)<br/>[[PayPal]] (2014–present)
| key_people = [[Dan Schulman]] (President and CEO, [[PayPal]])
| key_people = [[Dan Schulman]] (President and CEO, [[PayPal]])
| location_city = [[Chicago, Illinois]], United States
| location_city = Chicago, Illinois, United States
| areas_served = US, [[Europe]], [[Canada]], [[Hong Kong]], [[Singapore]], [[Malaysia]], [[Australia]], [[New Zealand]]
| areas_served = US, Europe, Canada, Hong Kong, Singapore, Malaysia, Australia, New Zealand
| num_employees = 500+ (2016)
| num_employees = 500+ (2016)
| website = [http://www.braintreepayments.com braintreepayments.com]
| website = [http://www.braintreepayments.com braintreepayments.com]
}}
}}
'''Braintree''' is a [[Chicago]]-based company that primarily deals in [[mobile payment|mobile]] and web payment systems for [[e-commerce]] companies. The company was acquired by [[PayPal]] on September 26, 2013.<ref>{{Cite web |last=Barr |first=Alistair |title=PayPal agrees to acquire Braintree for $800 million |url=https://www.usatoday.com/story/tech/2013/09/26/paypal-braintree-acquisition/2874891/ |access-date=2022-09-08 |website=USA TODAY |language=en-US}}</ref>
'''Braintree''' is a Chicago-based company that primarily deals in [[mobile payment|mobile]] and web payment systems for [[e-commerce]] companies. The company was acquired by [[PayPal]] on September 26, 2013.<ref>{{Cite web |last=Barr |first=Alistair |title=PayPal agrees to acquire Braintree for $800 million |url=https://www.usatoday.com/story/tech/2013/09/26/paypal-braintree-acquisition/2874891/ |access-date=September 8, 2022 |website=USA TODAY |language=en-US}}</ref>


==History==
==History==
Braintree was founded by Bryan Johnson in 2007.<ref>{{cite web|url=http://chicagoinno.streetwise.co/2016/01/29/facebooks-uber-buy-button-is-braintree-and-chicago-tech/|title=ChicagoInno}}</ref> By 2011, the company ranked 47th on Inc. magazine's annual list of the 500 fastest-growing companies.
Braintree was founded by [[Bryan Johnson]] in 2007.<ref>{{cite web|url=http://chicagoinno.streetwise.co/2016/01/29/facebooks-uber-buy-button-is-braintree-and-chicago-tech/|title=ChicagoInno}}</ref> By 2011, the company ranked 47th on [[Inc. (magazine)|Inc. magazine]]'s annual list of the 500 fastest-growing companies.


In that year, Bill Ready joined the company as CEO.<ref>{{cite press release|url=http://www.marketwired.com/press-release/bill-ready-executive-residence-accel-partners-former-president-ipay-technologies-joins-1575229.htm|title=Bill Ready, Executive in Residence at Accel Partners and Former President of iPay Technologies, Joins Braintree as CEO|date=October 19, 2011|work=Market Wired}}</ref> Johnson remained chairman.
In that year, Bill Ready joined the company as CEO.<ref>{{cite press release|url=http://www.marketwired.com/press-release/bill-ready-executive-residence-accel-partners-former-president-ipay-technologies-joins-1575229.htm|title=Bill Ready, Executive in Residence at Accel Partners and Former President of iPay Technologies, Joins Braintree as CEO|date=October 19, 2011|work=Market Wired}}</ref> Johnson remained chairman.


In 2012, Braintree acquired [[Venmo]] for $26.2 million.<ref>{{cite web|url=http://bits.blogs.nytimes.com/2012/08/16/payments-start-up-braintree-buys-venmo-for-26-2-million/|title=The New York Times|date=16 August 2012}}</ref> A year later, [[PayPal]], then part of eBay, acquired Braintree for $800 million.<ref name="Tech Crunch">{{cite web |title=Tech Crunch |url=https://techcrunch.com/2013/09/26/paypal-acquires-payments-gateway-braintree-for-800m-in-cash/}}</ref> In August 2015, PayPal acquired Chicago-based mobile commerce company Modest and rolled Modest's products into Braintree's offerings.<ref>{{cite web|url=http://www.chicagotribune.com/bluesky/originals/ct-paypal-acquires-modest-bsi-20150819-story.html|title=PayPal acquires Harper Reed's mobile-commerce startup, Modest|website=[[Chicago Tribune]]}}</ref>
In 2012, Braintree acquired [[Venmo]] for $26.2 million.<ref>{{cite web|url=http://bits.blogs.nytimes.com/2012/08/16/payments-start-up-braintree-buys-venmo-for-26-2-million/|title=The New York Times|date=August 16, 2012}}</ref> A year later, [[PayPal]], then part of [[eBay]], acquired Braintree for $800 million.<ref name="Tech Crunch">{{cite web |title=Tech Crunch |date=September 26, 2013 |url=https://techcrunch.com/2013/09/26/paypal-acquires-payments-gateway-braintree-for-800m-in-cash/}}</ref> In August 2015, PayPal acquired Chicago-based mobile commerce company Modest and rolled Modest's products into Braintree's offerings.<ref>{{cite web|url=http://www.chicagotribune.com/bluesky/originals/ct-paypal-acquires-modest-bsi-20150819-story.html|title=PayPal acquires Harper Reed's mobile-commerce startup, Modest|website=[[Chicago Tribune]]}}</ref>


Braintree first expanded internationally in 2012, when it announced it would begin providing services in [[Australia]].<ref>{{cite press release|url=http://www.businesswire.com/news/home/20121114006334/en/Braintree-Expands-Australia-Providing-Sophisticated-Payment-Tools|title=Braintree Expands to Australia, Providing Sophisticated Payment Tools for Australian Merchants|work=Businesswire}}</ref> The company began serving [[Europe]] and [[Canada]] in August 2013 and announced support in [[Hong Kong]], [[Singapore]], and [[Malaysia]] in 2015.<ref>{{cite web|url=http://www.thewhir.com/web-hosting-news/braintree-expands-online-payment-gateway-to-europe-and-canada|title=Braintree Expands Online Payment Gateway to Europe and Canada}}</ref><ref>{{cite web|url=http://www.businessinsider.com.au/braintree-is-expanding-its-asia-pac-operations-into-hong-kong-singapore-and-malaysia-2015-3|title=Braintree is expanding its Asia-Pac operations into Hong Kong, Singapore, and Malaysia|date=4 March 2015}}</ref>
Braintree first expanded internationally in 2012, when it announced that it would begin providing services in Australia.<ref>{{cite press release|url=http://www.businesswire.com/news/home/20121114006334/en/Braintree-Expands-Australia-Providing-Sophisticated-Payment-Tools|title=Braintree Expands to Australia, Providing Sophisticated Payment Tools for Australian Merchants|work=Businesswire}}</ref> The company began serving Europe and Canada in August 2013 and announced support in Hong Kong, Singapore, and Malaysia in 2015.<ref>{{cite web|url=http://www.thewhir.com/web-hosting-news/braintree-expands-online-payment-gateway-to-europe-and-canada|title=Braintree Expands Online Payment Gateway to Europe and Canada}}</ref><ref>{{cite web|url=http://www.businessinsider.com.au/braintree-is-expanding-its-asia-pac-operations-into-hong-kong-singapore-and-malaysia-2015-3|archive-url=https://web.archive.org/web/20150307022402/http://www.businessinsider.com.au/braintree-is-expanding-its-asia-pac-operations-into-hong-kong-singapore-and-malaysia-2015-3|url-status=dead|archive-date=March 7, 2015|title=Braintree is expanding its Asia-Pac operations into Hong Kong, Singapore, and Malaysia|date=March 4, 2015}}</ref>


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.<ref>{{cite web|url=http://www.pymnts.com/news/2015/braintrees-50-billion-milestone/|title=Braintree's $50 Billion Milestone|date=17 September 2015}}</ref>
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.<ref>{{cite web|url=http://www.pymnts.com/news/2015/braintrees-50-billion-milestone/|title=Braintree's $50 Billion Milestone|date=September 17, 2015}}</ref>


In 2016, Braintree announced that it will enable its European merchants to begin accepting purchases via China UnionPay, China's state-run card network.<ref>{{Cite web |last=Intelligence |first=Insider |title=UnionPay comes to Braintree merchants |url=https://www.businessinsider.com/unionpay-comes-to-braintree-merchants-2016-9 |access-date=2022-09-08 |website=Business Insider |language=en-US}}</ref>
In 2016, Braintree announced that it would enable its European merchants to begin accepting purchases via [[UnionPay]], China's state-run card network.<ref>{{Cite web |last=Intelligence |first=Insider |title=UnionPay comes to Braintree merchants |url=https://www.businessinsider.com/unionpay-comes-to-braintree-merchants-2016-9 |access-date=September 8, 2022 |website=Business Insider |language=en-US}}</ref>


Now Braintree processes payments in 45 countries and regions.<ref>{{Cite web |date=2022-01-18 |title=What Are Braintree’s Supported Countries - And Are You Located In One? |url=https://www.rapyd.net/blog/braintree-supported-countries/ |access-date=2022-09-08 |website=Rapyd |language=en}}</ref>
As of 2022, Braintree processes payments in 45 countries and regions.<ref>{{Cite web |date=January 18, 2022 |title=What Are Braintree's Supported Countries - And Are You Located In One? |url=https://www.rapyd.net/blog/braintree-supported-countries/ |access-date=September 8, 2022 |website=Rapyd |language=en}}</ref>


==Products and services==
==Products and services==
Braintree provides businesses with the ability to accept online and in-app payments.<ref>{{cite web|url=https://www.braintreepayments.com/|title=Accept Payments Online - Mobile Payments Made Easy - Braintree}}</ref> On October 1, 2012, they launched instant signup, streamlining the signup process for US merchants to a few minutes.<ref>{{cite web|url=https://techcrunch.com/2012/10/01/braintree-streamlines-sign-ups-cuts-fees-for-developers-to-bring-payments-to-their-apps/|title=Braintree Streamlines Sign-Ups, Cuts Fees For Developers To Bring Payments To Their Apps|date=1 October 2012|publisher=AOL|work=TechCrunch}}</ref>
Braintree provides businesses with the ability to accept online and in-app payments.<ref>{{cite web|url=https://www.braintreepayments.com/|title=Accept Payments Online - Mobile Payments Made Easy - Braintree}}</ref> On October 1, 2012, they launched instant signup, streamlining the signup process for US merchants to a few minutes.<ref>{{cite web|url=https://techcrunch.com/2012/10/01/braintree-streamlines-sign-ups-cuts-fees-for-developers-to-bring-payments-to-their-apps/|title=Braintree Streamlines Sign-Ups, Cuts Fees For Developers To Bring Payments To Their Apps|date=October 1, 2012|publisher=AOL|work=TechCrunch}}</ref>


Braintree announced the v.zero [[software development kit|SDK]] in July 2014.<ref>{{Cite web|url=https://techcrunch.com/2014/07/09/paypal-makes-good-on-its-braintree-acquisition-with-launch-of-new-developer-tools-the-braintree-v-zero-sdk/|title=PayPal Makes Good On Its Braintree Acquisition With Launch Of New Developer Tools, The Braintree v.zero SDK|last=Perez|first=Sarah|website=TechCrunch|access-date=2016-04-11}}</ref> It allows the automatic integration of the shopping cart with [[PayPal]] amongst other payment types. [[GitHub]] and [[ParkWhiz]] are among the companies that launched with the v.zero SDK, which supports "One Touch Payments". {{Citation needed|date=September 2022}} 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.<ref name="readwrite.com">{{Cite web |date=19 August 2014 |title=PayPal Wants You to Never Pull Out Your Credit Card Again |url=http://readwrite.com/2014/08/19/paypal-braintree-one-touch-payments}}</ref>
Braintree announced the v.zero [[software development kit|SDK]] in July 2014.<ref>{{Cite web|url=https://techcrunch.com/2014/07/09/paypal-makes-good-on-its-braintree-acquisition-with-launch-of-new-developer-tools-the-braintree-v-zero-sdk/|title=PayPal Makes Good On Its Braintree Acquisition With Launch Of New Developer Tools, The Braintree v.zero SDK|last=Perez|first=Sarah|website=TechCrunch|date=July 9, 2014 |access-date=April 11, 2016}}</ref> It allows the automatic integration of the shopping cart with [[PayPal]], among other payment types. [[GitHub]] and [[ParkWhiz]] are among the companies that launched with the v.zero SDK, which supports 'One Touch Payments'. {{Citation needed|date=September 2022}} 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.<ref name="readwrite.com">{{Cite web |date=August 19, 2014 |title=PayPal Wants You to Never Pull Out Your Credit Card Again |url=http://readwrite.com/2014/08/19/paypal-braintree-one-touch-payments}}</ref>


In September 2014, the company announced a partnership with [[Coinbase]] to accept Bitcoin.<ref>{{cite web|url=https://venturebeat.com/2015/01/22/braintree-now-lets-all-u-s-merchants-accept-bitcoin/|title=Braintree now lets all U.S. merchants accept Bitcoin - VentureBeat - Business - by Ruth Reader|work=VentureBeat|date=22 January 2015}}</ref>
In September 2014, the company announced a partnership with [[Coinbase]] to accept [[Bitcoin]].<ref>{{cite web|url=https://venturebeat.com/2015/01/22/braintree-now-lets-all-u-s-merchants-accept-bitcoin/|title=Braintree now lets all U.S. merchants accept Bitcoin - VentureBeat - Business - by Ruth Reader|work=VentureBeat|date=January 22, 2015}}</ref>


==Integration==
==Integration==
Line 49: Line 45:


==Credit card data portability==
==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.<ref>{{cite web|access-date=May 15, 2011|url=http://dataportability.org/2010/05/28/ccportabilitygroup/|title=Data portability in the Credit Card industry.}}</ref> 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.
Braintree initiated the credit card data portability standard in 2010, which was accepted as an official action group of the [[Data portability|DataPortability]] project.<ref>{{cite web|access-date=May 15, 2011|url=http://dataportability.org/2010/05/28/ccportabilitygroup/|title=Data portability in the Credit Card industry.}}</ref> 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.


==See also==
==See also==

Latest revision as of 03:06, 2 August 2024

Braintree
Company typeDivision
IndustryPayment service provider
FoundedOctober 22, 2007; 17 years ago (2007-10-22)
FounderBryan Johnson
Headquarters
Chicago, Illinois, United States
Areas served
US, Europe, Canada, Hong Kong, Singapore, Malaysia, Australia, New Zealand
Key people
Dan Schulman (President and CEO, PayPal)
Number of employees
500+ (2016)
ParenteBay (2013–2014)
PayPal (2014–present)
Websitebraintreepayments.com

Braintree is a Chicago-based company that primarily deals in mobile and web payment systems for e-commerce companies. The company was acquired by PayPal on September 26, 2013.[1]

History

[edit]

Braintree was founded by Bryan Johnson in 2007.[2] 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.[3] Johnson remained chairman.

In 2012, Braintree acquired Venmo for $26.2 million.[4] A year later, PayPal, then part of eBay, acquired Braintree for $800 million.[5] In August 2015, PayPal acquired Chicago-based mobile commerce company Modest and rolled Modest's products into Braintree's offerings.[6]

Braintree first expanded internationally in 2012, when it announced that it would begin providing services in Australia.[7] The company began serving Europe and Canada in August 2013 and announced support in Hong Kong, Singapore, and Malaysia in 2015.[8][9]

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.[10]

In 2016, Braintree announced that it would enable its European merchants to begin accepting purchases via UnionPay, China's state-run card network.[11]

As of 2022, Braintree processes payments in 45 countries and regions.[12]

Products and services

[edit]

Braintree provides businesses with the ability to accept online and in-app payments.[13] On October 1, 2012, they launched instant signup, streamlining the signup process for US merchants to a few minutes.[14]

Braintree announced the v.zero SDK in July 2014.[15] It allows the automatic integration of the shopping cart with PayPal, among other payment types. GitHub and ParkWhiz are among the companies that launched with the v.zero SDK, which supports 'One Touch Payments'. [citation needed] 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.[16]

In September 2014, the company announced a partnership with Coinbase to accept Bitcoin.[17]

Integration

[edit]

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 in-browser card encryption.[18]

Braintree also works with most e-commerce and billing platforms, including BigCommerce, WooCommerce, and Magento.[19]

Credit card data portability

[edit]

Braintree initiated the credit card data portability standard in 2010, which was accepted as an official action group of the DataPortability project.[20] 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.

See also

[edit]

References

[edit]
  1. ^ Barr, Alistair. "PayPal agrees to acquire Braintree for $800 million". USA TODAY. Retrieved September 8, 2022.
  2. ^ "ChicagoInno".
  3. ^ "Bill Ready, Executive in Residence at Accel Partners and Former President of iPay Technologies, Joins Braintree as CEO". Market Wired (Press release). October 19, 2011.
  4. ^ "The New York Times". August 16, 2012.
  5. ^ "Tech Crunch". September 26, 2013.
  6. ^ "PayPal acquires Harper Reed's mobile-commerce startup, Modest". Chicago Tribune.
  7. ^ "Braintree Expands to Australia, Providing Sophisticated Payment Tools for Australian Merchants". Businesswire (Press release).
  8. ^ "Braintree Expands Online Payment Gateway to Europe and Canada".
  9. ^ "Braintree is expanding its Asia-Pac operations into Hong Kong, Singapore, and Malaysia". March 4, 2015. Archived from the original on March 7, 2015.
  10. ^ "Braintree's $50 Billion Milestone". September 17, 2015.
  11. ^ Intelligence, Insider. "UnionPay comes to Braintree merchants". Business Insider. Retrieved September 8, 2022.
  12. ^ "What Are Braintree's Supported Countries - And Are You Located In One?". Rapyd. January 18, 2022. Retrieved September 8, 2022.
  13. ^ "Accept Payments Online - Mobile Payments Made Easy - Braintree".
  14. ^ "Braintree Streamlines Sign-Ups, Cuts Fees For Developers To Bring Payments To Their Apps". TechCrunch. AOL. October 1, 2012.
  15. ^ Perez, Sarah (July 9, 2014). "PayPal Makes Good On Its Braintree Acquisition With Launch Of New Developer Tools, The Braintree v.zero SDK". TechCrunch. Retrieved April 11, 2016.
  16. ^ "PayPal Wants You to Never Pull Out Your Credit Card Again". August 19, 2014.
  17. ^ "Braintree now lets all U.S. merchants accept Bitcoin - VentureBeat - Business - by Ruth Reader". VentureBeat. January 22, 2015.
  18. ^ "Braintree Developer Docs".
  19. ^ "Braintree Marketing Site - Third Party Integrations".
  20. ^ "Data portability in the Credit Card industry". Retrieved May 15, 2011.
[edit]
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