Braintree Sees Continued Growth 3 Years into Acquisition
Updated September 29, 2016
In September of 2013, we
announced that we were acquiring Braintree. Their vision for the future of payments, dedication to white glove service and their goal to provide easy access to all the payments tools needed to build beautiful, innovative commerce experiences would be bolstered by joining PayPal. By keeping this commitment at the core of everything Braintree does, together, we’ve been able to drive
growth and innovation while ensuring our merchants’ needs are top of mind.
Today, we are happy to share another significant milestone in the Braintree story. In the three years since the acquisition, we’ve seen the number of payment transactions on the Braintree platform grow more than 25x, measured from Q2 2013 to Q2 2016 [1]. This includes the many payment methods merchants can process through the Braintree platform, including PayPal, as Braintree is now the preferred integration for merchants to accept PayPal.
From their early days, Braintree had a vision for what commerce could be and they continue to take every step necessary to bring this vision to life. Innovation in e-commerce and mobile commerce happens when merchants and consumers are given unique new ways to connect. PayPal’s vast global network combined with Braintree’s platform allows us to deliver experiences that only we can do together. This includes industry-first products such as PayPal
OneTouch™,
Braintree Auth, and leading the way in contextual commerce with
PayPal Commerce-- each with the goal of making commerce easier, better, and more frictionless for everyone.
While there is a lot that we can attribute this milestone to, there are a few accomplishments in particular that stand out.
- In addition to working with many new merchants, partners, and innovators, we see many of the merchants that Braintree proudly supports continue to grow tremendously, reminding us why our work is so important.
- Braintree recently added new, innovative payment methods such as Venmo, Apple Pay on the web, PayPal Credit, and UnionPay, as part of their commitment to letting merchants accept any way their customers want to pay. Adding Venmo as a payment method was particularly exciting because they were able to turn a product already loved by millions, into a way for users to pay merchants as easily as they pay their friends -- with the same social benefits that Venmo is known for.
- Braintree partnered with some of the biggest names across mobile, social, and commerce including Pinterest -- enabling their buyable pins experience, and Facebook Messenger -- who, as a launch partner, they are helping power their in-message commerce such as ordering an Uber or Lyft, and buying tickets on Ticketmaster and Eventbrite.
- After our successful acquisition of Modest, together we launched our contextual commerce offering, PayPal Commerce -- allowing merchants to securely sell wherever their products are seen, wherever their customers are.
- Braintree launched the Braintree commerce infrastructure tools, to deliver richer commerce experiences, by enabling secure B2B payment sharing in and out of the network
While this explosive growth is something we are incredibly excited about, we know that there is much more to come. We’re fortunate to work with some of the most innovative platforms in e-commerce. Our merchants have and will always be our primary driving force, so we look forward to continuously supporting their growth for many years to come!
[1] Number of Payment Transactions: Payment transactions is the total number of payments, net of payment reversals, successfully completed through our Payments Platform, excluding transactions processed through our gateway products.
Juan Benitez, GM, Braintree