Braintree helps online businesses process credit card

Credit card

A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...

 payments by providing a merchant account

Merchant account

A merchant account is a type of bank account that allows businesses to accept payments by debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of credit card and/or debit card transactions...

, payment gateway

Payment gateway

A payment gateway is an e-commerce application service provider service that authorizes payments for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. It is the equivalent of a physical point of sale terminal located in most retail outlets...

, recurring billing and credit card storage. Braintree is a Level 1 PCI-DSS compliant service provider.

History

Braintree was founded in 2007 by Bryan Johnson. The company was bootstrapped, initially focusing on providing merchant account

Merchant account

A merchant account is a type of bank account that allows businesses to accept payments by debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of credit card and/or debit card transactions...

 services. Braintree proceeded to develop its payment gateway

Payment gateway

A payment gateway is an e-commerce application service provider service that authorizes payments for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. It is the equivalent of a physical point of sale terminal located in most retail outlets...

 software, including vault storage and recurring billing services. The company raised $34 million in a Series A investment from Accel Partners

Accel Partners

Accel Partners is a global venture and growth equity firm funding companies from inception through the growth stage.The firm is based in Palo Alto, California with major offices in Bangalore, Beijing, London, and Shanghai....

 in June 2011

Credit Card Data Portability

Braintree initiated the credit card data portability standard in 2010, which was accepted as an official action group of the DataPortability

DataPortability

Data portability is the ability for people to reuse their data across interoperable applications - the ability for people to be able to control their identity, media and other forms of personal data...

project. Credit Card Data Portability is supported by an opt-in community of electronic payment processing providers that agree to provide credit card data and associated transaction information to an existing merchant upon request in a PCI Compliant manner.

External links

• Braintree (company website)
• CrunchBase
• Credit Card Data Portability Standard