I came to PayPal and eBay Inc. in 2011 via the acquisition of Zong because it offered the best opportunity to achieve the goal I’ve been working toward for more than 15 years: to use the power of digital technology to transform the world of payments. I’ve always believed that if we can make transactions safer and easier, we’ll unlock value and convenience that we can only imagine today.
Over the past year and a half, we’ve worked hard at PayPal to put this idea into practice. We’re delivering beautiful products that make shopping faster, simpler, and more fun. We’re introducing innovative technologies that enable businesses to thrive in an increasingly mobile world. We’re providing tools to help developers create compelling new experiences that connect merchants with their customers in entirely new ways.
A lot of other companies claim they’re doing these things, too. But in the crowded payments space, most have a long way to go before they actually deliver useful solutions at the scale that’s required.
One company delivering these solutions today is Braintree. In a very short time, Braintree has built impressive mobile payment solutions that handle transactions in 130 currencies in more than 40 countries. Mobile developers love Braintree’s tools and the great hands-on service that they offer.
I admire Braintree because they were one of the very first companies to understand the power of real mobile-first experiences. I’m not talking about traditional e-commerce ported to your mobile device. I’m talking about groundbreaking experiences offered by companies like Airbnb, OpenTable, Uber, and TaskRabbit. Light, powerful, massively disruptive, and thoroughly delightful, they are all powered by Braintree.
Today’s news that we have agreed to acquire Braintree is a great move for both companies.
As a separate service offered by PayPal, Braintree will be able to scale its platform at a rate that is just not possible for a startup. PayPal’s already solved many of the regulatory and logistical hurdles that will help to extend Braintree’s reach to more customers in more markets even faster. Our resources will enable them to push the boundaries of innovation with ambition and confidence for consumers, merchants and developers around the world. It’s business as usual for Braintree. Braintree will continue to maintain its best-in-class service for its customers and developers for the foreseeable future.