eBay on Thursday announced that it is acquiring payment startup Braintree for $800 million in cash. eBay will combine Braintree, which provides technology for processing payments on the Web and mobile devices, with its PayPal payments division. Braintree expects to process some $12 billion in payments this year for thousands of online and mobile commerce companies. Clients include Rovio, Uber, OpenTable, Fab, Airbnb, TaskRabbit and Heroku. Of particular note is that this deal will give eBay access to Braintree’s Venmo mobile payments app.
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eBay Snags Braintree's Mobile-Payments Brain Trust in $800M Buy
Posted by: Peter Suciu September 26, 2013 11:36 AMeBay on Thursday announced that it is acquiring payment startup Braintree for $800 million in cash. eBay will combine Braintree, which provides technology for processing payments on the Web and mobile devices, with its PayPal payments division. Braintree expects to process some $12 billion in payments this year for thousands of online and mobile commerce companies. Clients include Rovio, Uber, OpenTable, Fab, Airbnb, TaskRabbit and Heroku. Of particular note is that this deal will give eBay access to Braintree’s Venmo mobile payments app.