Braintree hails growth since PayPal buy

Braintree hails growth since PayPal buy

29 OCT 2014

Braintree, the mobile payment firm bought a year ago by PayPal, has announced third-quarter 2014 figures showing a rapid growth in the reach of its platform since 2013.

Payment transactions are nearly three times as high as they were in Q3, 2013, it said.

The firm put out third-quarter figures a fortnight after PayPal and its parent eBay announced their own quarterly numbers. PayPal and eBay have announced plans to split in 2015.

In addition, Braintree had 86 million credit and debit cards on file for single-click/repeat purchases in the third quarter, a 22 per cent increase from the second quarter of 2014.

And Braintree’s Venmo payment app generated payment volume of $700 million in Q3, a 50 per cent increase from the prior quarter, “making it one of the most successful mobile payment apps in the world and still growing”, the company trumpeted.

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Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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