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

Featured

Slideshows

Examining the changing job scene in the Kiwi channel

Examining the changing job scene in the Kiwi channel

Typically, the New Year brings new opportunities for personnel within the Kiwi channel. 2017 started no differently, with a host of appointments, departures and reshuffles across vendor, distributor and reseller businesses. As a result, the job scene across New Zealand has changed - here’s a run down of who is working where in the year ahead…

Examining the changing job scene in the Kiwi channel
​What are the top 10 tech trends for New Zealand in 2017?

​What are the top 10 tech trends for New Zealand in 2017?

Digital Transformation (DX) has been a critical topic for business over the last few years and IDC is now predicting a step change as DX reaches macroeconomic levels. By 2020 a DX economy will emerge and it will become the core of what New Zealand industries focus on. From the board level through to the C-Suite, Kiwi organisations must be prepared to think and act digital when the DX economy emerges in 2017.

​What are the top 10 tech trends for New Zealand in 2017?
Top 15 Kiwi tech storylines to follow in 2017

Top 15 Kiwi tech storylines to follow in 2017

​The New Year brings the usual new round of humdrum technology predictions, glaringly general, unashamedly safe and perpetually predictable. But while the industry no longer sees value in “cloud is now the norm” type projections, value can be found in following developments of the year previous, analysing behaviours and patterns to formulate a plan for the 12 months ahead. Consequently, here’s the top Kiwi tech storylines to follow in 2017...

Top 15 Kiwi tech storylines to follow in 2017
Show Comments