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Online-payments provider Braintree says 2014 was a banner year for the Chicago-based unit of PayPal Inc., with total transactions growing to 2.8 times the 2013 tally.
In a blog post, chief executive Bill Ready also said that Braintree’s mobile transactions in the fourth quarter increased to four times the number in 2013. Braintree declined to disclose the total.
Authorized payment volume totaled $22.8 billion in 2014, more than twice the 2013 amount, Ready said. Braintree also said that its number of merchants more than doubled last year over 2013, and that it had 104 million cards on file in the fourth quarter for single-click and repeat purchasing, a 22% increase from the same quarter a year prior.
Braintree added Bitcoin support last year, and saw its single-click payment method, dubbed One Touch, expand into a PayPal offering. Such efforts, especially for mobile devices, aim to increase conversion rates on m-commerce sites.
“Our early bets on the importance of mobile and the growing consumer demand to be able to pay seamlessly—inclusive of all relevant payment methods, currencies, and digital wallets—are clearly becoming the standard,” Ready said.
