Braintree Further Powers Web 2.0 Payments with New Features

CHICAGO--(BUSINESS WIRE)--Braintree, a Web 2.0 payments provider, further bolsters its 21st century payment tools offering for web and application developers with an update release for their developer-friendly payments platform. This new release includes Luhn-10 Tokenization and Transparent Redirect within Flash, two features that help merchants meet PCI compliance requirements, the costly and time-consuming industry security requirement. The release corresponds to an ever-increasing need for technology innovation in the payments industry.

“The current generation of merchants need technology equal to what they’re deploying in their own products to increase security, simplify compliance, and make payments processing as seamless as possible on their websites and mobile applications.”

“20th century technology doesn’t cut it anymore,” said Dan Manges, CTO of Braintree. “The current generation of merchants need technology equal to what they’re deploying in their own products to increase security, simplify compliance, and make payments processing as seamless as possible on their websites and mobile applications.”

The Luhn-10 Tokenization allows developers to use Braintree’s credit card vault with legacy software. Legacy systems have been a bottleneck for merchants wanting to use tokenization to further reduce the scope of PCI compliance and increase credit card data security because they are limited to storing numbers that pass a Luhn-10 check. Braintree solves this problem by generating a token that is Luhn-10 valid but is not an actual credit card number. Merchants can safely store this token in place of the actual credit card number, thereby simplifying PCI compliance.

Braintree has also enhanced its innovative Transparent Redirect technology by adding support for applications written in Flash. This is particularly important as an increasing number of Web 2.0 merchants work to make the payments experience as seamless and frictionless as possible.

Transparent Redirect eliminates the transmission of credit card data from the merchant environment and it doesn’t require a hosted page. The user experience remains unchanged. This significantly reduces the scope of PCI compliance, often allowing merchants to achieve compliance by completing the quickest and least intrusive of the Self Assessment Questionnaires, SAQ A.

Braintree will process billions during 2010 and has quickly become a preferred provider by some of the fastest-growing and most promising technology businesses in America.

“For credit card processors, traditional card-present is dead,” said Bryan Johnson, CEO of Braintree. “Technology, and not the 20th century type, matters more than ever before because developers are the new decision makers. Without it, the providers that dominated the industry for the last three decades will be caught flat-footed.”

The businesses leading the payments innovation charge in areas such as mobile applications and micropayments, two of the most prominent trends of 2011, will increasingly need up-to-date payments technology to power their solutions.

"Braintree is a favorite example of an unconventional innovator meeting high-priority market needs," said Steve Mott, industry veteran from BetterBuyDesign. "These new features that so effectively address PCI compliance are just two examples of how Braintree is addressing the most pressing issues in payments. This company won't be the industry's best-kept secret for much longer."

About Braintree

Based in Chicago, Braintree provides merchant account, payment gateway, recurring billing, and credit card storage services for Web 2.0 companies. Braintree has changed the payments industry for tech companies with its exceptional support, innovative software, and credit card data portability initiative. Braintree provides developers a platform for payments integration with both website and mobile applications, and works with some of the most promising and fastest-growing companies in U.S.

Learn more about Braintree at http://getbraintree.com