Courtesy of collaboration with Braintree, banking with Simple just got simpler.
The partnership between the global payments company and the online mobile banking innovator will give Simple’s customers access to Venmo Touch. Adding this feature to their mobile app allows Simple to provide one-touch purchasing throughout Venmo’s app network ranging from Uber, Hotel Tonight, and Wrapp.
The partnership represents the first time Braintree has offered direct banking integration for Venmo Touch. Braintree processes more than $10 billion annually (more than $2 billion alone on mobile) in transactions from more than 40 countries around the world.
The company acquired Venmo a little under a year ago for more than $26 million. A few months later, Braintree announced that it had raised $35 million in funding.
For its part Simple has onboarded more than 35,000 users as of June, with six times that number reportedly on waiting lists to use the still-in-beta service. The company provides a mobile payment solution, linked with their own FDIC-insured bank (The Bancorp Bank), that organizes all of a consumer’s various accounts into a single, Simple bank card.
Simple also announced today a new partnership with Dropbox. The arrangement will allow Simple users to add PDFs and images from their Dropbox accounts to their transactions.
Braintree demonstrated its Venmo Touch solution as part of the FinovateSpring 2013 show in San Francisco back in May. See the company’s demo here.