Paypal is close to making a deal with Braintree Payments. If Paypal can acquire Braintree, PayPal will have access to data and lucrative transactions fees in which Braintree has in its expanding network as Braintree is currently processing $10 billion annually. Braintree has more than 4,000 customers in U.S and Canada. Braintree makes 30 cents per transaction and charges its customers with 2.9 percent per commission.

Paypal is one of the most popular payment processor online. Earlier this quarter, Paypal has introduced an android and iOS app that is similar to Google Wallet to ease customers in transacting online.

 

Read the rest of the news here: http://blogs.wsj.com/digits/2013/09/22/paypal-nears-deal-for-braintree-payments/

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