Braintree is giving its merchant partners the capability to accept bitcoin for payment on their website thanks to a partnership with digital wallet provider Coinbase. 

Braintree CEO Bill Ready announced the partnership this morning at the TechCrunch Disrupt conference in San Francisco. Coinbase explained the specifics about the partnership in a company blog post: 

Braintree merchants using Coinbase will receive all the benefits associated with accepting bitcoin payments, including 1-percent flat transaction fees (waived for the first $1M in bitcoin sales) with no additional costs, all while avoiding exposure to any currency volatility risk thanks to Coinbase's Instant Exchange feature.

Merchants interested in accpeting bitcoin need to open a seperate merchant account with Coinbase and then link their Braintree account, according to the blog post.

Last month, The Wall Street Journal reported PayPal (Braintree's owner) was in discussions with companies such as Coinbase for exactly what was announced Monday. 

Braintree also announced at the conference it will make its One Touch product more availble to merchants. The system enables consumers to enter payment information once and pay with one-click (similar to Amazon) on future visits to any merchant with One Touch.