Braintree Collaborates with Simple, Launches Venmo Touch for Banking Customers

CHICAGO, July 10, 2013 /PRNewswire/ -- Braintree, the global payment platform behind many of the best next-generation online and mobile purchasing experiences—including Hotel Tonight, Fab, Airbnb, Uber and Angry Birds—today announced it will offer Venmo Touch to card issuers and mobile banking providers, delivering one touch mobile payments to their customers. Braintree is collaborating with Simple, a leader in online and mobile banking, to give Simple customers access to Venmo Touch, extending their seamless mobile experience through to checkout. This is Braintree's first collaboration to offer direct banking integration for Venmo Touch.

As the battlefield for 'top of wallet' quickly moves from consumers' pockets to their mobile phones, the stakes are rising for banks as they must transform to compete in the growing mobile economy. Consumer demand for greater convenience in mobile purchases continues to grow, and by integrating Venmo Touch into its mobile app, Simple is furthering its goal to improve its customers' financial lives. In the coming weeks, Simple customers will have the option to opt in to Venmo Touch, which will turn on one touch purchasing across the network of Venmo Touch apps, including Hotel Tonight, TaskRabbit, Wrapp, Trunk Club and many others.

"Within its first year in market, the Simple Visa® debit card has been used more than two million times. With Venmo Touch, we're providing our customers with an even easier way to make purchases," said Josh Reich, Simple's CEO and co-founder.

Braintree currently enables single-click purchasing for more than 40 million consumers across thousands of e-commerce sites and applications. Today, the company handles more than $10 billion in payments annually, with more than $2 billion of that originating from mobile purchasing. Braintree's sophisticated, developer-friendly payment platform allows companies to quickly innovate and scale their businesses.

"Consumers are quickly moving to mobile as their primary computing device and they expect easy, mobile-optimized purchasing experiences," said Braintree CEO Bill Ready. "Simple is defining what the future of banking will be in a mobile world. With Venmo Touch, Simple is ensuring that their customers will have access to the absolute easiest way to pay on mobile devices."

About Braintree
A catalyst for the next generation of commerce, Braintree provides the easiest way to pay and get paid across any device. Braintree's global payment platform processes more than $10 billion annually (with more than $2 billion on mobile) for thousands of online and mobile commerce innovators including Airbnb, Fab, LivingSocial, OpenTable and Uber. Merchants in more than 40 countries throughout North America, Europe and Australia can accept payments in more than 130 currencies using Braintree. Today, Braintree powers single-click purchasing for more than 40 million consumers and its top-rated mobile app, Venmo, gives people an easy way to pay using their mobile device. To learn more, visit Braintree at www.braintreepayments.com and on Twitter @braintree.

SOURCE Braintree