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Braintree goes global

Online payment processor Braintree announced it is expanding its payments platform to international markets. The company said it will be launching its payment gateway services in 30 global markets, including the U.K., Australia and Canada. Plans call for Braintree to offer a private beta program in the next few months followed by a full rollout during the third quarter.

"Online entrepreneurship is one of the most powerful forces for growth in today’s global economy. Braintree disrupted the payments industry in the U.S. by making payments easy for developers to integrate in minutes rather than months," said Braintree CEO Bill Ready.

"We're now disrupting the global payments industry by providing international start-ups with the same technology available to the best U.S. and multinational e-commerce merchants," Ready said.

Ready said Braintree is answering the demand of its customers and thousands of startups around the world for a global online and mobile payments solution.

According to the company, the international expansion will address an issue that e-commerce startups around the world have dealt with in the past: a lack of viable options or updated technology for online payments. The majority of payment options globally are provided by local processors using outdated legacy platforms, Braintree said.

Braintree will provide international clients with access to its developer sandbox, vault credit card storage system, and customer service channel. Over time, support for local, non-credit card payment methods will be added as well as expanding beyond the first group of countries, the company said.

The company currently processes more than $4 billion in credit card transactions annually, with almost a quarter of that volume coming through mobile transactions. Clients include hot startups like LivingSocial, OpenTable, Shopify and Airbnb.

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