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Braintree and Venmo Launch One Touch Payments for Mobile Apps

CHICAGO–(BUSINESS WIRE)–

Braintree, the fastest growing payments platform for online and mobile
commerce, today introduced Venmo Touch, a service that enables one touch
payments across multiple applications. By facilitating a seamless
checkout experience, Venmo Touch will save consumers the hassle of
having to re-enter payment information on a mobile device across
merchants in the Braintree network. The company is releasing Venmo Touch
in private beta for select Braintree clients, with HotelTonight,
TaskRabbit, Wrapp and several others enabling the service for their
customers over the coming weeks.

Braintree currently enables repeat purchases for over 35 million
consumers across thousands of e-commerce sites and applications by
storing consumers’ payment information for future use at those
merchants. Venmo Touch is taking one touch payments a step further so
consumers can enter their credit card information once and pay across
the many merchants in Braintree’s network.

Venmo Touch eliminates the need for consumers to re-type credit card
numbers by providing a secure, connective layer across all apps on a
mobile device. When users enter their payment information into one of
the apps in the network, they will be prompted to “save the card with
Venmo” to enable one touch payments when using other apps on the same
device. This process protects against unauthorized purchases as the user
simply enters the credit card security code when using a new app.

“Filling out forms and entering payment information on a mobile device
is a real hassle for users,” said Bill Ready, CEO of Braintree. “Each
time a user downloads a new app, the user needs to re-enter payment
information, creating frustration for users and a huge obstacle in the
user sign-up process for apps. Venmo Touch lets you store payment
information once and then use it across multiple apps without requiring
users to sign-up or download a separate app. This makes the payment and
sign-up process much easier.”

“As an app developer laser-focused on customer experience, one of our
primary goals is simplicity. It’s great to offer customers who opt-in
one fewer step between download and booking a hotel room,” said Sam
Shank, CEO of HotelTonight. “Braintree understands that consumer
experience is a huge differentiator for mobile apps, and Venmo Touch
will make that experience even better.”

Venmo Touch is a result of the vision shared by Braintree and Venmo
(acquired by Braintree in 2012) to design the best possible user
experience for payments on mobile devices. Venmo Touch is free for
consumers and Braintree clients. To learn more about Venmo Touch, please
visit touch.venmo.com.
Additional information can also be found at braintreepayments.com/blogs/blogtree
or blog.venmo.com.

About Braintree

Braintree is the fastest growing payment platform for online and mobile
businesses, offering all the tools merchants need to accept payments and
provide consumers a frictionless experience at checkout. Braintree
provides merchants with a secure payment
gateway
, merchant account, recurring billing, and credit card
storage, as well as industry-leading customer service and an
easy-to-integrate API. Braintree operates internationally, and allows
merchants in over 30 countries to accept payments in over 130 currencies.

Braintree’s consumer brand, Venmo, offers a digital wallet and mobile
payment application that extends Braintree’s payment platform to
consumers, making it easy for consumers to make payments on mobile
devices. The Venmo iPhone and Android apps connect your phone with your
bank accounts, debit cards, and credit cards, so you can instantly send
money to anyone. When you receive money, you can withdraw it to your US
bank account overnight. To learn more about Venmo, visit venmo.com.

Braintree’s solutions have been proven to scale and support many of the
most discerning, high-growth companies on the web, including Uber,
Rovio/Angry Birds, LivingSocial, Airbnb, Fab.com, GitHub, OpenTable,
LevelUp, TaskRabbit and HotelTonight. Founded in 2007, Braintree is now
processing more than $6 billion annually from over 4,000 merchants, $1.5
billion of which is on mobile. Braintree enables single-click,
frictionless purchasing at checkout for more than 35 million consumers.
Visit Braintree at www.braintreepayments.com
and on Twitter @braintree.

Article source: http://finance.yahoo.com/news/braintree-venmo-launch-one-touch-160800925.html

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