Braintree, the fastest growing payments platform for online and mobile commerce, today introduced Venmo Touch, a service that enables one touch payments across multiple applications.
By facilitating a seamless checkout experience, Venmo Touch will save consumers the hassle of having to re-enter payment information on a mobile device across merchants in the Braintree network. The company is releasing Venmo Touch in private beta for select Braintree clients, with HotelTonight, TaskRabbit, Wrapp and several others enabling the service for their customers over the coming weeks.
Braintree currently enables repeat purchases for over 35 million consumers across thousands of e-commerce sites and applications by storing consumers' payment information for future use at those merchants. Venmo Touch is taking one touch payments a step further so consumers can enter their credit card information once and pay across the many merchants in Braintree's network.
Venmo Touch eliminates the need for consumers to re-type credit card numbers by providing a secure, connective layer across all apps on a mobile device. When users enter their payment information into one of the apps in the network, they will be prompted to "save the card with Venmo" to enable one touch payments when using other apps on the same device. This process protects against unauthorized purchases as the user simply enters the credit card security code when using a new app.
"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 an app developer laser-focused on customer experience, one of our primary goals is simplicity. It's great to offer customers who opt-in one fewer step between download and booking a hotel room," said Sam Shank, CEO of HotelTonight. "Braintree understands that consumer experience is a huge differentiator for mobile apps, and Venmo Touch will make that experience even better."