>strongly_typed

: a collection of facts, tidbits, and musings about our world and our industry by the people of Braintree

How We’re Delivering on Our Commitments to Our Customers: A Recap of Q2 2014

Last quarter I shared an update on how we’re delivering on our commitments to you, our customers, now that we’re part of PayPal. The milestones and stats that we shared are things that we look at internally all the time, but it felt really good to share them outside our own walls. We’ve always been pretty transparent with how we’re doing, but we want to set a more regular cadence to report back to all of you with our progress. More than anything we want to be sure we keep delivering great tools that allow innovators around the world to build beautiful new commerce experiences. Sharing those milestones publicly felt like a good way to make sure we always stay grounded in that principle. So, here’s some of what we were working on for you last quarter.

Throughout Q2, we were heads down developing our largest ever rev on our SDKs -- the Braintree v.zero SDK, which we named because we took a completely fresh look at what developers and innovators are going to need to deliver great experiences in a mobile world. The SDK makes it far easier for developers to integrate even from what our prior SDKs delivered. In less than 10 minutes, developers get a drop-in UI for easy checkout on web, mobile web and native apps, card acceptance in 130+ foreign currencies, great fraud tools, and the ability to accept payment from over 150 million PayPal users.

As part of our continued effort to support entrepreneurs and swap stories with innovators, we were out at a number of conferences and events. Most notably, our BattleHack series of hackathons -- hosted by our PayPal Dev team -- was in San Francisco, Istanbul, Toronto, Berlin, and Chicago - whew! As a native Kentuckian, my personal favorite event was Southland, where I spoke in June and where we hosted our first ever PitchHop competition -- giving the winning startups automatic entry into our Blueprint program. With that, we gave the winners $100,000 of fee free transactions with Braintree and $1.5 million fee free transactions with PayPal.

We also teamed up with Facebook to help mobile app developers get their businesses off the ground and scale. As the only payments provider in the FbStart program, we’re working with Facebook to give developers the tools they need to successfully build an app, market their product and begin accepting payments. As part of the partnership, we’re bringing Ignition to FbStart, waiving the fees on the first $50,000 in processing for startups.

Before we plunge ahead with what’s to come in Q3 (and believe me, it’ll be an amazing ride!) I wanted to share with you a measure of what we accomplished in Q2, thanks to you, our customers:

  • Braintree is now enabling one touch purchasing for more than 70 million consumers, up 25% from last quarter (70.6 million cards on file as of end of Q2 2014)

  • Our payment volume grew 28.8% quarter over quarter in the second quarter of 2014

  • Venmo is now handling well over $1.5 billion in consumer mobile payments annually ($468 million in Q2 2014), up 49% from Q1 2014.

This has been a great quarter, but we have lots more that we’re building and will bring to you in the months ahead. We always love hearing your feedback - on what we’re doing well or what you’d like for us to improve. So, please let us know in the comments below or reach out to us at @braintree or support@braintreepayments.com.

***
Bill Ready Bill is the SVP, Global Head of Merchant and Next-Gen Commerce at PayPal. Previously, Ready was the CEO of Braintree, leading the company through the 2013 acquisition by PayPal for $800 million. More posts by this author >>

You Might Also Like_

    Stay up to date – subscribe to our RSS feed