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Braintree reveals mobile marketplace management tool

US-based payments firm Braintree has revealed a mobile management tool, which is designed to help marketplace owners maintain their relationship between buyers and sellers.

The company claims the service makes the process much easier as marketplaces have notoriously stood in the way of transactions. They typically take funds from the buyer before validating the seller's bank account information.

Once this process is complete the seller receives the funds.

Braintree's new mobile tool allows buyers to pay in a single touch and sellers to receive money directly. The finances are managed by Braintree so the marketplace operator never gains any access to the funds.

Bill Ready, chief executive officer at Braintree, said: "We created Marketplace so that our customers can keep growing their communities with far less regulatory burden and their users, both buyers and sellers, can easily transact via their mobile devices."

The new service will be offered for free to existing buyers and sellers.

By Claire Archer