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PayPal’s Braintree to double payment processing volume in 2015

September 17, 2015

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As PayPal enters into a new chapter as an independent company, the company is releasing more data around the strength of some of its businesses. On Thursday, the payments company revealed a few growth figures around its Braintree business, which it acquired for $800 million in 2013.

Braintree, which manages and processes payments for companies like ride sharing giant Uber says it will cross $50 billion in total authorized payment volume in 2015, which is more than double the $23 billion in total payment volume Braintree did in 2014.

Braintree’s closest competitor, Stripe, doesn’t reveal processing numbers, but sources close to Stripe told Fortune in July that say that the company was processing in the tens of billions per year.

PayPal’s payments processing arm also now has 154 million consumer credit cards on file, which is up from 56.4 million cards in the first quarter of 2014. In contrast, Apple (AAPL) reportedly has 800 million credit cards on file.

PayPal (PYPL) has not released Braintree’s revenue numbers at this time, but it will be interesting to see if these will be broken out when the company released third quarter earnings. Braintree, which operates in 46 markets in the world, just made its first acquisition since PayPal spun off from eBay (EBAY). The company bought Modest, which helps merchants create mobile apps for their stores.

For more information on eBay and PayPal’s split, watch this video:

 

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