Braintree has partnered with Coinbase to enable a bitcoin payment option for all of its merchants in the coming months.
Braintree is part of eBay’s PayPal unit, acquired for $800 million one year ago. The announcement confirms earlier reports that PayPal is looking to integrate bitcoin payments through its subsidiary.
Braintree made the announcement during TechCrunch Disrupt San Francisco, where it also unveiled mobile touch payments, which aim to increase the conversion rate of mobile shoppers.
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For Braintree, Bitcoin is the next strategic step in offering consumers flexibility in their choice for payment options. Said CEO Bill Ready:
“We are excited to be partnering with a company that is equally committed to simplifying payments for both merchants and consumers, and look forward to working with Braintree to complete the integration.”
Towards the end of its announcement, Coinbase says that Braintree merchants will need to individually create accounts with Coinbase.
Braintree merchants pay 2.9% plus $0.30 per transaction. Coinbase doesn’t charge a fee for the first $1 million in sales, but will charge an additional 1% thereafter.