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PayPal ( PYPL ) subsidiary Braintree managed to nab e-tail startup Jet.com, a rising Amazon.com ( AMZN ) rival, as a client because of its security features, pricing and service, a Jet.com executive said. Katie Finnegan, head of corporate development, told IBD that payments firm Braintree is “very startup friendly” and that the PayPal company has a “clear development roadmap.” “These were all purely commercial impulses,” Finnegan said, who added that Braintree was willing to implement security features that Jet.com was interested in. “ I think they’ve been a good partner that has supported us as we’ve grown pretty exponentially since launch,” she said. Privately held Jet.com had a number of payments services options besides Braintree, including developing its own payments technology, which is the route Amazon.com has taken. Square ( SQ ), a digital cash register and payments processor, recently announced that it was adding functionality that would allow nearly any website to use it to process payments. Square’s clients are mostly small and midsize companies. New Jersey-based Jet.com raised $350 million in a Series B funding round that closed in November. The company has more than 3.5 million registered users as of January. The company declined to disclose sales figures. PayPal stock is down more than 2.5%, near 38, in afternoon trading on the stock market today . Shares are below a 40.03 entry and an earlier entry at 38.62. Scalper1 News
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