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Braintree Acquired by eBay to Expand PayPal’s Mobile Marketshare

In a move to expand PayPal’s mobile payments position in the marketplace, PayPal owner eBay has acquired payments gateway Braintree for $800M, announced today.  In addition to being a payments gateway, Braintree also owns mobile payments solution Venmo, which it acquired last year.  Venmo allows users to pay each other via text messaging, among other things.  As an increasing number of consumers are transacting on mobile devices and with merchants looking to capitalize in omnichannel marketing, this is a very interesting acquisition to watch.  eBay expects the deal to close in the fourth quarter of this year.

 

 

By | 2013-09-27T16:19:08+00:00 September 27th, 2013|Categories: Blog Post|Tags: , , |0 Comments