E-commerce service provider eBay Inc. (EBAY - Free Report) -owned mobile payment processor company – Braintree recently unveiled a modular software development kit ("SDK") called the Braintree v.zero for developers.
Braintree v.zero SDK allows developers to easily and quickly integrate any of PayPal or Braintree’s payment services to a website or mobile app. The SDK takes approximately 15 minutes to install and configure. Braintree intends to offer more payment methods in the coming months.
The new software toolset enables companies to subtract payments directly from a shopper’s PayPal account. Also, it allows shoppers to easily make payments from their smart devices.
Today, smartphones, tablets and other mobile Internet devices are the biggest growth drivers. Consumers, nowadays, prefer the convenience of ordering and paying online over the hassles of shopping at brick-and-mortar stores.
Therefore, removing the hurdle for mobile customers to feed in their credit card details on their phones for every purchase will help eBay ramp up its sales.
Last year, eBay acquired Braintree for $800 million in cash in a bid to enhance PayPal's mobile payments capabilities. The latest launch is the first big move by Braintree since its acquisition. Braintree is a payment processing company, which helps businesses set up online payments through merchant accounts, mobile apps, credit card storage and payment gateways.
PayPal is taking all the necessary measures for continued growth in the mobile payment business. It is pushing beyond its online payments service and expanding its offline, mobile and online offerings to stores, restaurants and other businesses.
Though eBay’s payment business shows great promise, competition remains a major headwind. However, the latest move will likely put PayPal in a better position against rival mobile payment systems such as Amazon.com Inc. (AMZN - Free Report) recently launched Amazon Payments, Google Inc.’s (GOOGL - Free Report) digital wallet, Intuit Inc.'s (INTU - Free Report) GoPayment and Starbucks (SBUX - Free Report) -backed Square Inc. and others.
Currently, eBay’s shares carry a Zacks Rank #4 (Sell).