Braintree – Financial Transactions via Mobile Apps

Monday 12th, March 2012 / 11:02 Written by

As more  people adapt to the convenience offered by mobile phones, another traditional “web” feature has seen a big increase in the mobile segment: Financial Transactions. As such, there are quite a few options out there, but it isn’t exactly simple to integrate it into applications; If online payment providers offer sufficient tools to application developers, the entire process will be made simple.

In this context, Braintree has come up with the extension of tools for mobile application developers which will help developers integrate payment gateways into their applications. With these new set of tools, merchants will be able to confirm payments in the mobile application itself without the need of browser authentication.

 

Braintree is one of the fastest growing credit card processing companies in the world. It adds more than 100 new merchant accounts every month. It has more than $4 billion credit card transaction volume. As a matter of fact, Braintree offers services to authenticate payments made online. This service is useful for merchant establishments. The company offers multiple services related to payment processing including payment gateway services, merchant account and credit card data storage. The provided infrastructure helps merchants process national and international payments. The current delivered new set of tools help developers eliminate the complicated PCI compliance matters. Extensive safety measures can be taken by implementing encryption service when users enter sensitive information on mobile phone which has to be processed through mobile applications.

The encrypted data captured from the mobile application will be routed to a payment processor through servers employed by merchants. Decryption of code can happen only at Braintree’s end. Using a private key, Braintree will be able to process the encrypted data. In this process, merchants do not have direct access to sensitive credit card information; their servers act like mere carriers of data in this scenario. These mobile applications will be made available in a variety of mobile platforms including iOS,  Android and Windows Phone 7 based devices.

The key difference between the currently deployed mobile applications and new mobile applications will be this: instead of masking the browser in applications, new mobile applications will be able to process transactions directly from the application without depending on browser. With the availability of new mobile applications, businesses will be able to attract more customers who prefer to pay through mobile phones. Merchants will also benefit  as they will not be exposed to the sensitive information pertaining to credit cards. Transaction authentication will happen in few seconds time adding more convenience to both customers and merchants.

With the availability of applications through various devices including tablets and through various mobile phones loaded with diverse operating systems, overall mobile transactions will grow in future. Many more new mobile applications are expected to be introduced in the coming days. In addition to the technical tools, some mobile payment processors like Square are offering attractive loyalty features and printed receipts for merchants to keep them in their fold. With the increased competition in provision of services, payment processing companies are trying to woo merchants by offering some goodies.

About the author

Deeptaman Mukherjee is one of those rare names in the Indian blogosphere, who pursues blogging as his hobby. In the 4 years of his blogging experience, he has worked with some of India's top blogs. He presently blogs at My Portable World and Tech Buzz Online. For any engagements or just to say a Hi, do get in touch with him at Twitter & Facebook. Know more about him, here.

View all articles by Deeptaman Mukherjee

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