CHICAGO, IL - US-based online payment processing services developer Braintree is now processing more than USD 8 million in online credit card payments daily.
The company is expected to process more than USD 3 billion in 2011. Braintree has expanded its footprint in Europe, Australia, Asia Pacific and the Middle East. According to the company, international transactions now represent 15 percent of the processing volume.
In June 2011, Braintree has secured USD 34 million in Series A funding round from the venture capital firm Accel Partners. With the new influx of capital, Braintree will improve its core products and pursue new opportunities in payments.
Braintree enables online businesses to process credit card payments by providing a merchant account, payment gateway, recurring billing and credit card storage.