Market Overview

Braintree and FreshBooks Team Up to Provide Best-in-Class Payments and Back Office Solution

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CHICAGO--(BUSINESS WIRE)--

Braintree (www.braintreepayments.com) the fastest growing payments platform for online and mobile commerce, announced today an integrated partnership with FreshBooks, the leader in cloud accounting for small business owners, that will allow FreshBooks to leverage Braintree's payment processing to provide FreshBooks' merchants with a PCI compliant payment gateway in a time- and cost-effective manner. The partnership allows Braintree and FreshBooks to offer merchants a single solution for payment processing and accounting services all integrated into one package.

FreshBooks, the #1 cloud-based accounting specialist for small business owners, is on a mission to deliver fast and simple invoicing and time-tracking services that help owners run their businesses better so they can focus on what they love to do. The company has paying customers in over 120 countries and has served more than 5 million users since launch. FreshBooks chose Braintree as a partner because of their shared passion for customer service.

“Braintree strives to provide excellent payment software and customer service in order to simplify the lives of entrepreneurs and business owners,” said Bill Ready, CEO of Braintree. “We're excited to partner with FreshBooks because they also work tirelessly to provide high quality, cost effective solutions that enable small businesses to focus on their core competency.”

“FreshBooks starts everything from the customer's point of view, which led to the decision to integrate with Braintree,” said Mike McDerment, co-founder and CEO of FreshBooks. Through the Braintree partnership, FreshBooks now offers an expanded portfolio of secure, proven cloud accounting capabilities to small business owners around the globe.”

Braintree is able to dramatically reduce clients' PCI compliance requirements due to its Transparent Redirect, Client-side Encryption and innovative Vault features, which allow merchants to receive payments and store payment information without ever directly handling sensitive credit card data. This greatly reduces the PCI compliance burden for merchants, saving them valuable time and resources. Braintree's Vault also allows clients to implement seamless, single click checkout experiences to improve conversion rates. FreshBooks is designed to support businesses of all types: lawyers, marketing and IT professionals, plumbers, interior decorators, even an architect–anyone who creates value for their clients by applying their time and expertise.

About Braintree

Braintree is the fastest growing payment platform for online and mobile businesses, offering all the tools merchants need to accept payments and provide consumers a frictionless experience at checkout. Braintree provides merchants with a secure payment gateway, merchant account, recurring billing and credit card storage, as well as industry-leading customer service and an easy-to-integrate API. Braintree operates internationally, and allows merchants in 28 countries in North America and Europe to accept payments in over 130 currencies. Braintree subsidiary Venmo's digital wallet and person-to-person payment application extends Braintree's payment platform to consumers, making it easy for consumers to purchase, and merchants to accept payments, on mobile devices.

Braintree's solutions have been proven to scale and support many of the most discerning, high-growth companies on the web, including Rovio/Angry Birds, LivingSocial, Airbnb, Fab.com, OpenTable, Uber and HotelTonight. Founded in 2007, Braintree is now processing more than $4 billion annually from over 3,000 merchants, $1 billion of which is on mobile. Braintree enables single-click, frictionless purchasing at checkout for more than 30 million consumers resulting in much higher conversion rates for merchants. Visit Braintree at www.braintreepayments.com and on Twitter @braintree.

About FreshBooks

In 2003, Mike McDerment, co-founder and CEO of FreshBooks, accidentally saved over an invoice, snapped and decided to create a better way to manage his books and bill clients. Since then, FreshBooks has emerged as the #1 cloud accounting specialist for small business owners by helping more than 5 million people track time, organize expenses and invoice clients in the cloud. Known for extraordinary customer service and based in Toronto, Canada, FreshBooks serves paying customers in over 120 countries. Visit FreshBooks at http://www.freshbooks.com.

for Braintree
Laura Hauser, 415-717-7356
braintree@sutherlandgold.com
Tracey Weinberg, 312-502-1613
tracey.weinberg@getbraintree.com

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