Braintree Challenges Visa's Mobile Wallet

by Mercator Advisory Group 0

Braintree Payments, which acquired Venmo Touch last summer, is beta-testing the company’s one-touch service, which enables its users to automatically fill in personal information when making purchases online with different applications. Braintree, which will offer the service through its backend gateway, reportedly soon plans to make the service available to users of HotelTonight, TaskRabbit and Wrapp.

From Fierce Mobile Content:

“Filling out forms and entering payment information on a mobile device is a real hassle for users,” said Bill Ready, CEO of Braintree. “Each time a user downloads a new app, the user needs to re-enter payment information, creating frustration for users and a huge obstacle in the user sign-up process for apps. Venmo Touch lets you store payment information once and then use it across multiple apps without requiring users to sign-up or download a separate app. This makes the payment and sign-up process much easier.”

As Fierce Mobile Content notes in its report, Venmo Touch’s one-touch personal data entry competes with, Visa’s mobile wallet service. And Ready is right in saying filling out forms is a hassle because it often results in frustrated shoppers not completing their transactions. Any service that can move the task to a single button push should only increase sales for merchants that offer the option to their customers, many of whom are hesitant to enter card information again and again when using different apps.

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