Braintree intros one-touch payments, Bitcoin acceptance

The PayPal-owned mobile and online payments company said developers that have integrated with its SDK will be able to begin accepting bitcoin in the coming months.

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The PayPal-owned mobile and online payments company Braintree has rolled out One Touch, a single touch payment option for purchases made via PayPal in an iOS app.

The main benefit being touted by both PayPal and Braintree is that users will no longer need to enter user names and passwords on the variety of apps integrated with Braintree's payment option.

Early launch partners include, ParkWhiz, StubHub and Type Tees by Threadless.

But as is the case with all payments providers these days, PayPal and Braintree said they wanted to give merchants (and in turn, their customers) the flexibility to accept a variety of payment forms and methods. So they teamed with the Y Combinator-backed bitcoin processor Coinbase to begin accepting payments from the emerging virtual currency.

From the Braintree blog:

At Braintree, we've been an open platform from the beginning, striving to give merchants easy access to the most sophisticated payment tools, which now includes the most relevant wallets across platforms — all via a single integration, the Braintree SDK. Today, this includes PayPal, with over 150M active digital wallets, Venmo, which is processing more than $1.5B in mobile payment volume annually, Coinbase in the coming months, and whatever is relevant for developers and merchants in the future.

PayPal, which is owned by eBay,  acquired Braintree a year ago for $800 million in an effort to evolve its mobile strategy. It supports partners such as Uber, Airbnb and Dropbox. PayPal's integration of bitcoin via Braintree could be a smart use of Braintree's brand, approach, and existing relationships.