Braintree, acquired last year by PayPal for $800 million, is aiming to take its ‘One Touch’ payment technology for Paypal beyond the US market.
In August the parent firm announced that One Touch PayPal was in beta with select
US merchants before becoming available to all of those using the Braintree v.zero SDK and all PayPal app users in the coming weeks. PayPal described the technology as “an industry-first, one touch buying experience enabling consumers to pay across apps without having to log in – even on the first purchase”. The service minimises the hassle around entering user IDs, passwords and card details.
Braintree CEO Bill Ready said the company plans to bring One Touch PayPal to Europe “in the next couple of months.”
Ready also gave an insight into the drivers behind its 2013 PayPal deal. “Our thinking was we got it right on being a ‘mobile-first’ company and one-touch payments, but we wanted to get to scale much more quickly,” he commented.
Meanwhile Ready used the event to unveil a way for European-based businesses to more easily sign up for its ecommerce platform, via a new process already available in the US. Now European businesses can quickly enable their websites to accept payments with as little information as an email address, company URL, and short company description. It’s also extending its incentive to Europe of offering the first $50,000 of transactions on the platform (in a local currency equivalent) free of any commission fees.
“We think we are the fastest in the industry to enable companies to get up and running in payments,” said the Braintree boss.