[February 13, 2013]

Wrapp Selects Braintree to Power Payments

Braintree, the fastest growing payments platform for online and mobile commerce, today announced Wrapp, the social gifting app that allows consumers to send free and paid digital gift cards using mobile devices or the web, has selected the company as its payments provider. In addition to using the sophisticated platform, Wrapp will soon be available on Venmo Touch in the US, Braintree's new service that enables one touch payments across multiple mobile applications.

Braintree's presence in more than 40 countries worldwide, and its capability to process payments in more than 130 different currencies, provides companies like Wrapp, currently available in eight countries, with the ability to support their current markets and rapidly enter new markets seamlessly. As a key influencer in the European start-up community, Wrapp continues to lead the pack by focusing on the quickly growing mobile industry and Braintree helps deliver on the customer experience by enabling one touch checkout, not only within the app, but now across apps.

"Wrapp is an innovative company, not only changing the way people purchase, send and receive digital gift cards, but also how retailers build their brand and relationships with their customers," said Klas Bäck, General Manager of International Payment Strategy at Braintree. "By providing new technology, like Venmo Touch, and with our capabilities around the globe, we look forward to helping accelerate Wrapp's international expansion and improving the mobile payment process for their customers."

"Braintree understands the importance of mobile commerce and has removed the currency barriers that often come with operating in multiple markets," said Hjalmar Windladh, CEO and co-founder of Wrapp, used by over 1 million consumers to give 8.3 million digital gift cards in the last 15 months. "By using Braintree to process payments, we can focus on growing and improving our social gifting service, knowing that the checkout process will always be consistent and super simple for our users."

In addition to Wrapp, Braintree has already helped many brands quickly grow internationally, including leading companies such as Fab, Uber and HotelTonight. Braintree currently enables one touch 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 and with Venmo Touch, is currently extending these capabilities across apps.

About Braintree

Braintree is the fastest growing payment platform for online and mobile businesses, offering all the tools merchants need to accept payments and provide consumers a frictionless experience at checkout. Braintree provides merchants with a secure payment gateway, merchant account, recurring billing, credit card storage, and mobile payments as well as industry-leading customer service and an easy-to-integrate API. Braintree operates internationally, and allows merchants in 40 countries in North America, Europe and Australia to accept payments in over 130 currencies. Braintree's consumer brand, Venmo, offers a digital wallet that makes it easy for consumers to make payments to friends and apps on mobile devices.

Braintree's solutions have been proven to scale and support many of the most discerning, high-growth companies on the web, including Rovio/Angry Birds, LivingSocial (News - Alert), Airbnb, Fab.com, OpenTable, Uber, LevelUp and HotelTonight. Founded in 2007, Braintree is now processing more than $6 billion annually from over 4,000 merchants, $1.5 billion of which is on mobile. Braintree enables single-click, frictionless purchasing at checkout for more than 35 million consumers. Visit Braintree at www.braintreepayments.com and on Twitter (News - Alert) @braintree.

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