PayPal has launched a new mobile ap product, One Touch, for merchants and app developers. One Touch has been built in conjunction with eBay unit Braintree, and is modeled on Braintree’s Venmo Touch product.
Venmo offers a social app enabling users to quickly send money to each other, then cash out to a bank overnight. Venmo Touch was introduced as a way for mobile app users to access their stored payment information across a network of Braintree-supported apps, instead of using separate payment information for different accounts.
Purchases are completed with a single touch, although people can opt in and out of the service by app and choose any source of funding, including PayPal, credit card or linked bank account, with each purchase.
PayPal’s launch of One Touch means that PayPal merchants can now accept mobile payments in their proprietary applications and reduce check-out abandonment, while consumers will benefit from being able to use simplified payment information during mobile purchases.
One Touch is being launched with select merchant partners as part of the recently released Braintree v.zero SDK, and will be rolled out more publicly in September.