Menu
PayPal subsidiary Braintree to process Bitcoin payments

PayPal subsidiary Braintree to process Bitcoin payments

The move represents PayPal's first foray into the digital currency

Online payments platform Braintree will start processing Bitcoin transactions, allowing merchants to accept payments in the crypto-currency.

Braintree is partnering with Bitcoin payments processor Coinbase to allow its customers to accept bitcoins, and will launch the function in "the coming months," Braintree said in a blog post on Monday.

Braintree is a division of PayPal, which is owned by e-commerce giant eBay.

"Today we're announcing PayPal's first foray into Bitcoin," Braintree CEO Bill Ready earlier told an audience at the TechCrunch Disrupt event in San Francisco. "The Coinbase wallet will be easily presented for consumers to pay in a highly adaptive, mobile-optimized experience."

The company's v.zero software development kit, designed for payments made via apps and websites, will integrate Bitcoin functionality.

To accept bitcoin, Braintree merchants will have to open accounts with Coinbase and link the new account to their Braintree account.

"Braintree merchants using Coinbase will receive all the benefits associated with accepting bitcoin payments, including 1 percent flat transaction fees," Coinbase said in a blog post.

Braintree also announced widespread availability of One Touch, a function that lets users pay for things using their iOS or Android mobile devices with a single touch -- clicking the "Buy" button.

Currently limited to merchants in the U.S., the function works with PayPal and with Braintree's own mobile payment app, Venmo, which lets users send payments to friends for free.

One Touch eliminates the need to input a username and password every time a payment is made. It's being used by apps such as Jane.com, which offers deals on apparel.

Braintree's payments platform, available in the U.S., Canada, Australia and Europe, is used by Web-based accommodation service AirBNB as well as Uber, the taxi-calling app.

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags Internet-based applications and servicespaypalfinancemobileindustry verticalsBrainTreeinternetCoinbasemobile applications

Slideshows

Top 50 defining moments of the New Zealand channel in 2016

Top 50 defining moments of the New Zealand channel in 2016

Reseller News looks back on a tumultuous 12 months for the New Zealand channel, assessing the fallout from a year of sizeable industry change. Whether it be local or global mergers and acquisitions, distribution deals or job changes, the channel that started the year differs somewhat to the one set to finish it - Reseller News assesses the key moments that made 2016.​

Top 50 defining moments of the New Zealand channel in 2016
​Hewlett Packard Enterprise honours high achieving NZ channel

​Hewlett Packard Enterprise honours high achieving NZ channel

Hewlett Packard Enterprise honoured its top performing Kiwi partners at the second running of its HPE Partner Awards in New Zealand, held at a glitzy ceremony in Auckland. Recognising excellence across eight categories - from distributors to resellers - the tech giant celebrated its first year as a standalone company, following its official split from HP in 2015.

​Hewlett Packard Enterprise honours high achieving NZ channel
Nutanix treats channel partners to Christmas cruise

Nutanix treats channel partners to Christmas cruise

Nutanix recently took to the seas for a Christmas Cruise around Sydney Harbour with its Australia and New Zealand staff, customers and partners to celebrate a stellar year for the vendor. With the sun out, they were all smiles and mingled over drinks and food.

Nutanix treats channel partners to Christmas cruise
Show Comments