PayPal is making new moves in the tech field of electronic payment systems. PayPal’s 2013 acquisition of Braintree gave it access to some of the newest technology in the field used by massive companies like Uber and Airbnb. This promises to be a new source of growth and market share for PayPal in the field of payment collections.
Being able to buy things online is great, especially if you’re in college and don’t have a car to get to a big box retailer like Target or Kmart, take care of someone and don’t often have the time to go to the store, or just want to lay in bed or enjoy a day doing something other than going to a store, getting stuck in long lines, and dealing with parking. Online commerce is a continually growing section of the economy, and the tech that must be strong enough to support that massive infrastructure is growing and changing as well.
For years, PayPal had fallen by the wayside alongside other tech companies like Yahoo!. It fell into the trap of industry leader that never changed to meet the changing times, but it got out, and Braintree is helping it do that. It’s a fruitful business partnership, and a 300% growth rate in payment volume for Braintree in one year can speak to that. Let’s see what the continued growth and change of this industry means for consumers.