PayPal embraces Bitcoin payments Conbase Bitcoin wallet provides real-time Bitcoin exchange

Golden Finance News - It has been a few years since PayPal acquired Braintree for a full investment of US$800 million in August 2014. Now, the online and mobile payment platform Braintree is launching a one-click payment function with real-name authentication, and Braintree is integrating Bitcoin payments.

(Braintree is integrating Bitcoin payments. Image source: Golden Finance)

Bill Ready, head of marketing at Braintree, said that the number of times users use mobile devices to make payments is still far less than the number of times they use desktop computers. This is because it is more cumbersome to enter or re-enter credit card information on a mobile device. Ready said,

“More than half of e-commerce shopping experiences now take place on mobile devices, but only 10-15% of purchases take place on smartphones.”

But after several months of testing, Braintree created a new payment solution that allows people to connect to real-name authenticated online payment companies through a simple and convenient application, thus simplifying consumers' repeated entry of usernames and passwords.

Bill Ready, head of Braintree's marketing department (first from left) Image source: Golden Finance

Ready introduced,

“We are enabling a lot of e-commerce shopping on mobile phones, and most importantly, Braintree has partnered with Y Combinator and Andreessen Horowitz-backed Bitcoin exchange Coinbase to enable Bitcoin payment capabilities for users.”

"This is the first step for PayPal to embrace Bitcoin." Ready said that Braintree is a development platform wholly acquired by PayPal, and their new features support Bitcoin payments.

According to reports, the new Braintree feature will be launched in the coming months, and developers who integrate the Braintree software development kit will be able to add Bitcoin payments to the payment methods of every smartphone user. This is another recent progress made by the Bitcoin wallet and commercial payment processing platform Paypal.

(Coinbase CEO Brian Armstrong Image source: Golden Finance)

Coinbase CEO Brian Armstrong said.

“We have a lot of developers telling us they would love to add bitcoin payments. But Braintree will handle all bitcoin payments.”

“If a Braintree-powered merchant chooses to enable bitcoin payments, they will need a Coinbase bitcoin wallet. The app will support instant exchange, meaning merchants don’t have to handle bitcoin directly and can get instant conversion rates between fiat and bitcoin.”