Braintree Merchants Can Now Accept Samsung Pay

Payment platform Braintree made a move to not only make merchants’ lives easier, but also to make it smoother for consumers to pay, which makes merchants happier. So no one was complaining today when the PayPal-owned company announced it will integrate with Samsung Pay.

Braintree merchants in the U.S. can now accept Samsung Pay for in-app payments. According to a study conducted by PYMNTS, the percentage of adult smartphone users that have used Samsung Pay to make a purchase rose from 4.3% in March of 2017 to 5.1% in December of 2017.

Braintree has simplified the process for merchants, requiring just a few lines of code to integrate Samsung Pay into their existing checkout process, making for a streamlined purchasing experience for end users. Online wholesale retailer Boxed is among the first to pilot the integration.

Today’s announcement is a continuation of Braintree’s relationship with Samsung. Earlier this year, the San Francisco-based company announced that U.S. PayPal users can transact using PayPal within Samsung Pay.

PayPal acquired Braintree in 2013 for $800 million. Braintree most recently showcased Venmo Touch at FinovateSpring 2013. Last month, Adobe announced it is launching Magento Payments with PayPal’s Braintree for payment processing. And in April, Braintree teamed up with Yahoo! to make its payment platform available to online sellers using Yahoo Merchant Solutions and Yahoo Stores.

Finovate Alumni News

On Finovate.com

  • Envestnet | Yodlee Doubles Down on the Developer Experience.
  • Braintree Merchants Can Now Accept Samsung Pay.

Around the web

  • eToro sets up a free bitcoin ATM to celebrate Bitcoin’s 10th anniversary.
  • Tradeshift announces new app from kompany to reduce supply chain risk.
  • Crain’s Chicago Business names Narrative Science on its list of most innovative companies.
  • Fenergo listed on Deloitte’s Technology Fast 50 Ireland list.
  • iSignThis’ ISXPay receives Bank Institution Code, will be able to accept deposits directly as a monetary financial institution as of December 4.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • PayActiv More than Doubles its Funding with Fresh $20 Million.

Around the web

  • IdentityMind Global selects Oracle Cloud Infrastructure to host its trusted digital identities regtech platform
  • Adobe launching Magento Payments with PayPal’s Braintree for payment processing.
  • Tangerine partners with Meniga for digital banking.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • PeoplesBank Partners with Gro Solutions to Enhance Mobile and Online Experience.
  • Stash Teams with Green Dot to Become a Challenger Bank.

Around the web

  • Lending Club announces Bahman Koohestani as Chief Technology Officer.
  • Yahoo partners with PayPal to make Braintree available to online sellers using Yahoo Merchant Solutions and Yahoo Stores platforms.
  • Main Street Softworks adds support for Bluefin’s Decryptx PCI-validated P2PE Decryption-as-a-Service.
  • PYMNTS.com features a conversation with Entersekt Chief Commercial Officer Dewald Nolte.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Braintree’s New Tool Facilitates Integrated Payments

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.

Finovate Alumni News

On Finovate.com

  • Peoples Trust Company Picks Finastra for Commercial and Consumer Lending.
  • Gro Solutions to Streamline Onboarding for Congressional FCU.
  • Braintree’s New Tool Facilitates Integrated Payments.

Around the web

  • Nabil Bank chooses Compass Plus Processing Centre.
  • Thomson Reuters collaborates with Salesforce to help fight financial crime.
  • World Finance Magazine awards Temenos “Best Islamic Banking & Finance Software Solution” at 2018 Islamic Finance Awards.
  • Klarna and MyOnlineStore partner up to offer all-in-one online commerce solution.
  • Pindrop to provide Phoneprinting for online retailer Shop Direct.
  • St. Paul FCU teams up with Insuritas to launch member-owned, digital insurance agency.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Braintree Powers RFID Payments for Eventbrite Attendees

One of the best ways to get consumers to spend more money is to make it easy for them to pay. That’s exactly what PayPal subsidiary Braintree and Eventbrite are banking on. This week, the duo announced they have teamed up to give festival-goers and event attendees a new way to pay.

This new capability enables attendees to make payments using their RFID-enabled event wristband that generally serves as their admission ticket. This creates a cashless way for patrons to pay in person for food, beverages, and merchandise by leveraging the payment credentials they used when paying for their ticket online.

After conducting a study testing the use of the new technology at an event earlier this year, Braintree found that attendees who used their wristbands as a cashless payment method spent 2x more per day than cash payers did. Using Braintree’s Commerce Infrastructure tools, the festival organizer was able to share attendees’ tokenized payment credentials with its vendors, who all run on separate payment systems. According to Braintree’s blog, the “vast majority of attendees who used cashless said it improved their overall experience (84%) and would use it again (89%).”

Braintree’s Contextual Commerce tools enable businesses to create a seamless purchasing experience for consumers

Eventbrite has leveraged Braintree’s Contextual Commerce tools in its partnerships with Bandsintown and Facebook to streamline the ticket purchasing experience for customers. Offering a native purchasing experience results in fewer abandoned carts and, in Facebook’s case, resulted in twice as many tickets sold.

PayPal acquired Braintree in 2013 for $800 million. Braintree most recently showcased Venmo Touch at FinovateSpring 2013. Last month, Braintree enabled Android and Apple Pay support in Australia. Earlier this summer, the California-based company surpassed one billion transactions per quarter. Braintree supports merchants in more than 40 countries and more than 130 currencies. The company has more than 500 employees who work in 7 office locations across the globe.

Finovate Alumni News

On the web

  • Braintree Powers RFID Payments for Eventbrite Attendees.

Around the web

  • Accion features Aneesh Varma of Aire on Medium.
  • Forbes: Blend Wants To Bring The $2 Trillion Mortgage Market To The Modern Era.
  • Seylan Bank selects Finastra (formerly Misys) for trade finance and corporate banking.
  • HSBC launches online data tool in collaboration with Xero, Sage and Intuit
  • TSYS President, COO Pamela A. Joseph resigns.
  • Actiance Announces Compliant Capture and Archiving Support for Microsoft Teams.
  • Blackhawk Network’s Hawk Incentives Launches Wallet-Enabled Prepaid Card for Promotions and Incentives.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • CREALOGIX Purchases AI and Machine Learning Tech from Koemei.

Around the web

  • Braintree Enables Apple Pay, Android Pay Support in Australia.
  • TradeRiver joins the International Chamber of Commerce.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alums Earn Spots in European Fintech 100

Powered by collaborative Belgian innovation platform, B-Hive, and Dutch financial consulting firm, Alex van Groningen BV, the European Fintech Awards & Conference recognize fintech innovators working in a variety of areas ranging from the Blockchain/Bitcoin and Financial Inclusion to InsurTech and Payments.

The awards consist of a European Fintech 100 and a Top Three which will be selected from among the top three startups in each of the conference’s nine categories during a pitch contest at the end of September. Here are the Finovate alum finalists who will compete for top honors in their respective categories this fall.

Dorsum (FinovateEurope 2017)

  • Category: Innovative Banking Software
  • Founded in 1996
  • Headquartered in Budapest, Hungary
  • Róbert Kő is CEO and Founder

Meniga (FinovateEurope 2017)

  • Category: PFM / Robo Advisory
  • Founded in 2009
  • Headquartered in London, U.K.
  • Won Finovate Best of Show three times
  • Georg Ludviksson is CEO

Revolut (FinovateEurope 2015)

  • Category: Challenger Banks
  • Founded in 2013
  • Headquartered in London, U.K.
  • Nikolay Storonsky is CEO and founder

TWINO (FinovateEurope 2016)

  • Category: Alternative Finance
  • Founded in 2015
  • Headquartered in Riga, Latvia
  • Jevgenijs Kazanins is CEO

Below are the Finovate alums that have been named to the European Fintech 100.

 

 

 

 

See the full European Fintech 100 list.

Interested in fintech in Europe and the U.K.? Finovate brings its new, expanded format to London in February. With live demos on Days One and Two, and a diverse range of keynotes, panel discussions, and round tables with fintech professionals on Days Three and Four, FinovateEurope 2017 is an event you won’t want to miss. Visit our FinovateEurope page today to learn more and to take advantage of huge early-registration savings.