PayPal near to Braintree acquisition– report - Mobile World Live

PayPal near to Braintree acquisition– report

23 SEP 2013

PayPal is close to buying highly rated Braintree Payments Solutions, according to the Wall Street Journal.

The report is sourced to people who are familiar with the discussions. An eBay spokesman declined to comment, as did Braintree CEO Bill Ready (pictured).

Actual terms of the deal were not revealed, and people close to the negotiation said it was possible that it might fall through.

Braintree, which was founded in 2007, has established a growing reputation in the online market and has also been building its position in the mobile payments market.

The company is processing $4 billion in mobile payments annually, equivalent to one third of its total payments. The mobile part of its business has grown rapidly since the acquisition of Venmo, a m-pay app.

A report earlier this month by Techcrunch said Braintree has been in talks with Google and Square about a potential sale, both of whom were put off by its high valuation. The report said talks with PayPal were ongoing. However, Ready subsequently denied the speculation in an interview with Pandodaily.

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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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