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Consumers rarely even think about who processes their payments at checkout. Whether it’s being handled in the back offices of a traditional bank like JPMorgan or by a fintech like PayPal or Stripe, it merely needs to be fast, and hassle free. However, behind the scenes there is a battle underway to control ‘buy now’ technology. Last year, the San Jose company began cutting the cost of payment services it offers under its Braintree brand, a white-label service that lets companies small and large accept debit cards, credit cards and other payment methods from consumers. Research firm MoffetNathanson estimates that Braintree revenue jumped to $8.4 billion in 2022 from $6.2 billion in 2021, making up roughly 30% of PayPal’s total net revenue.
