WALTHAM, MA--(Marketwire - Sep 26, 2012) - MetraTech Corp., the leading provider of agreements-based billing and compensation solutions, today announced that Metanga, its cloud-based commerce solution, has partnered with Braintree, the fastest growing payment platform for online and mobile commerce, to simplify and enhance online subscription commerce.
Braintree is a next-generation payment provider simplifying payment gateway processing and merchant account acquisition. Companies like Rovio, OpenTable, GitHub, Uber and 37 Signals selected Braintree as their payment gateway solution for online and mobile commerce offerings.
MetraTech provides billing and settlement solutions for some of the world's leading enterprises including Concur, Cetip, DTCC, Fujitsu, GXS and PGi. Its Metanga offering is the first monetization solution running on the public cloud. Leveraging MetraTech's extensive transactional billing expertise and billing operations knowledge, Metanga lets customers monetize consumptive business models through a complete quote-to-cash solution. With Braintree and Metanga, customers can simplify their entire service, from order and enrollment processes to pricing, packaging, billing, payment and collections. Working together, Braintree and Metanga are decreasing the friction from the underwriting, sales and customer setup process. The end result is that the business starts transacting commerce faster and more efficiently.
Bill Ready, CEO of Braintree, said, "Simplicity is paramount for today's business solutions, and this is a key differentiator for us. Our customers want to go to market as fast as possible. The partnership we're undertaking with Metanga will position Braintree as the preferred payment provider embedded within an incredibly advanced online commerce solution. What impressed us about the Metanga team was the complementary philosophy to build open and simple and to integrate with solutions that benefit customers by making it easier to conduct commerce."
"It's great to be working with the rock star team of online payments and next-generation commerce. The synergy between the two companies around ease of use and best-in-class integration make this an exciting partnership. The combination of our quote-to-cash offering and Braintree's payments platform provides a compelling value proposition for our customers," said Scott Swartz, CEO of MetraTech. "Our mutual philosophy on building a great partnership that simplifies the set up of merchant accounts and the monetization of service businesses will benefit our customers."
MetraTech Corp. offers an innovative approach to billing, compensation and customer care. We empower organizations to embrace change through a unique agreements-based billing and compensation solution that models and supports fluid, personalized, multi-party agreements. We automate business processes and business models to address rapidly changing or complex business strategies. Our products are deployed globally, and our customers use MetraTech to innovatively create and securely collect revenue, provide settlement to partners and manage their customer lifecycle in 12 languages, 28 currencies and 90 countries. Customers include Concur, The Depository Trust and Clearing Corporation (DTCC), CETIP, the City of Chicago, Microsoft, PGi and OnStream (National Grid). The company is headquartered in Boston, with offices in San Francisco, Paris, Rio de Janeiro and London. MetraTech is a venture-backed, privately held company whose investors include Accel Partners, Meritech Capital and Vesbridge Partners. For more information, please visit www.metratech.com and www.metanga.com.
Braintree is the fastest growing payment platform for online and mobile businesses, offering all the tools merchants need to accept payments and provide consumers a frictionless experience at checkout. Braintree provides merchants with a secure payment gateway, merchant account, recurring billing and credit card storage, as well as industry-leading customer service and an easy-to-integrate API. Braintree operates internationally, and allows merchants in 28 countries in North America and Europe to accept payments in over 130 currencies. Braintree subsidiary Venmo's digital wallet and person-to-person payment application extends Braintree's payment platform to consumers, making it easy for consumers to purchase, and merchants to accept payments, on mobile devices.
Braintree's solutions have been proven to scale and support many of the most discerning, high-growth companies on the web, including Rovio/Angry Birds, LivingSocial, Airbnb, Fab.com, OpenTable, Uber and HotelTonight. Founded in 2007, Braintree is now processing more than $4 billion annually from over 3,000 merchants, $1 billion of which is on mobile. Braintree stores more than 30 million credit cards, enabling a single-click, frictionless experience at checkout for consumers and higher conversion rates for merchants. Visit Braintree at www.braintreepayments.com and on Twitter @braintree.