Braintree facilitates integrated payments with new tool
PayPal-owned Braintree is stepping up its game: the company has launched Braintree Extend, a solution that allows merchants to offer a more integrated payment experience across multiple partners, writes Julie Muhn at Finovate.
This means that merchants who want to partner with transaction services firms, rewards and loyalty providers, and contextual commerce companies can do so while maintaining a seamless user experience, the vendor explains. And because Braintree Extend works with Braintree Vault, merchants can tokenise and store payment information without putting their clients’ data at risk.
Azita Habibi, senior manager of Braintree Development, describes the new release as the “next phase” in the company’s mission “to become the commerce operating system for merchants and partners”.
Braintree is already working with Yelp on its card-linked loyalty programme, Yelp Cash Back, which is used by thousands of merchants. Leveraging Braintree Extend, Yelp is able to give users real-time cash rebates at the point of sale after making a purchase at a participating merchant. And Bandsintown, a music performance and discovery platform, is leveraging Braintree Extend for contextual commerce. The platform enables users to discover and select shows and purchase tickets without leaving the Bandsintown platform.
PayPal acquired Braintree in 2013 for $800 million. Recently, the company unveiled Transaction-Level Fee Reports, a new reporting capability to help merchants understand and analyse processing fees at a per-transaction level.