PayPal-owned Braintree is stepping up its game this week. The company has launched Braintree Extend, a solution that allows merchants to offer a more integrated payment experience across multiple partners.
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. And because Braintree Extend works with Braintree Vault, merchants can tokenize and store payment information without putting their clients’ data at risk.
In a blog post announcement, Azita Habibi Sr. Manager of Braintree Development described 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 program, 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. Braintree most recently showcased Venmo Touch at FinovateSpring 2013. Last week, the company unveiled Transaction-Level Fee Reports, a new reporting capability to help merchants understand and analyze processing fees at a per-transaction level. And last September, the company celebrated four years of operation under PayPal.