Braintree Payment Solutions (braintreepayments.com) is a merchant account provider based in Chicago, Illinois. Founded in 2007, Braintree markets its services primarily to e-commerce merchants, subscription-based businesses, and merchants that key in all of their credit card transactions.
Braintree’s payment gateway offers virtually automatic PCI Compliance by storing the credit card data off of the merchants’ systems and on its own secured servers. The system allows cards to be recharged or refunded without reentering the card information and enables merchants to set up recurring charges for periodic billing purposes, such as subscriptions and memberships. Braintree also allows U.S.-based merchants to accept international payments in 134 local currencies with settlement in 21 different currencies.
Braintree was purchased by PayPal in September 2013 for $800 million. The acquisition also included Venmo, Braintree’s mobile cash transfer service. Braintree uses First Data for its card processing network, but merchants appear to deal with Braintree exclusively for the service of their accounts. Braintree is located at 111 North Canal Street, Floor 4, Chicago, Illinois 60606, and the company’s acquiring bank is Wells Fargo Bank, N.A., Walnut Creek, California. Bill Ready is the CEO of Braintree.