Payments processor Braintree is seeing a huge year-over-year jump in mobile payments this holiday season. According to CEO Bill Ready we’re witnessing the pent-up demand from consumers to use their phones as shopping tools.
PayPal tried to revamp its developer platform this spring for the new mobile commerce reality, but it realized it wasn’t moving fast enough. It decided to buy Braintree, which already had sophisticated tools in place.
Braintree’s cross-app payment service Venmo Touch will now be pre-integrated into Simple’s mobile app, eliminating the final logistical step in moving money from a bank account to an online merchant’s hands.