Since its acquisition by PayPal three years ago, in-app payments firm Braintree has seen a 25 fold increase in the number of transactions on its platform.
Braintree is a young outfit so the leap in traffic is not so surprising. Nevertheless, the firm has become a key growth engine for PayPal since being bought for $800 million in September 2013.
The firm, headed by Bill Ready (pictured), experienced the jump in transactions between Q2 2013 and Q2 of this year. The figure is the total number of payments, net of reversals, that were successfully completed through Braintree’s platform, excluding transactions processed through its gateway products.
The figure includes app payments for its parent as Braintree is the preferred integration for merchants to accept PayPal.
Braintree, whose nearest rival in the in-apps payments market is Stripe, added a number of products over the last three years, including PayPal OneTouch, Braintree Auth and PayPal Commerce, all of which contributed to the growing volume. The move into contextual commerce followed the acquisition of US firm Modest a year ago.
In addition, Braintree recently added Venmo, Apple Pay on the web, PayPal Credit and China UnionPay as payment methods, which it hopes will stimulate volumes.