Braintree Releases Q4 2014 Recap

On Jan. 31, Braintree CEO Bill Ready released a recap of his company’s Q4 performance, where he highlights the new partnership with PayPal, as well as the huge growth company services, including fund-sharing program Venmo, have experienced thanks to both the PayPal partnership as well as expansions within the business community for Braintree products.

In the blog post, Ready comments on the partnership with PayPal, which was initiated back in 2013, as a way for Braintree to expand its network, especially though v.zero SDK, which is the foundation for PayPal’s merchant platform. Braintree’s merchant base doubled in 2014, while the platform recorded 2.8 times the transactions year over year. In total, Braintree services authorized over $22.8 billion in payments in 2014, which was double that of 2013.

Leading the way for the company was the expansion of mobile payment software, which Ready credits “early bets on the importance of mobile and the growing consumer demand to be able to pay seamlessly.” Mobile transactions were up by a multiple of four in 2014, with over 104 million cards on file for one-click and repeat purchases, a 22 percent improvement over Q3 2014. Part of that expansion was thanks to Venmo, which processed $2.4 billion in payments, and now handles Bitcoin and Apple Pay, which is backed up by Touch ID security. Braintree was also able to introduce one-touch payments with PayPal in conjunction with easy to use fraud protection at v.zero.

Also touted in the release was the increase in merchant services through working with Facebook Fb Start. Through this partnership, businesses can get access to $50,000 worth of fee-free processing, as well as the whole range of tools from Braintree. This is an increasing trend with payment processing companies with First Data and UL teaming up for the same kind of support, as well as other mobile payment processors offering affordable merchant services.