NEW YORK (InsideBitcoins) — Braintree, an eBay subsidiary, has officially announced that it will allow its merchants to accept bitcoin “on any device,” in a partnership with Coinbase.
The news had been expected, but was overshadowed by expectations of a full rollout of bitcoin acceptance by eBay unit PayPal, which was fueled by a YouTube video posted on PayPal’s channel earlier today.
Meanwhile, developers at Coinbase are working to complete the new Braintree bitcoin integration within the next few months.
Braintree CEO Bill Ready announced the news this morning at TechCrunch Disrupt, explaining that his company is focused on giving its customers choice and flexibility. Braintree merchants using Coinbase will receive all the benefits associated with accepting bitcoin payments, including 1% flat transaction fees — waived for the first $1 million in bitcoin sales — with no additional costs, all while avoiding exposure to any currency volatility risk when utilizing Coinbase’s “Instant Exchange” feature.
To accept bitcoin, Braintree merchants will need to open a separate merchant account with Coinbase and then link to their Braintree account.