Smartphone bank Simple enables one-touch app purchasing

Virtual bank Simple has integrated with mobile wallet platform Venmo Touch in a bid to speed up smartphone shopping for its US customers.

Virtual bank Simple has integrated with mobile wallet platform Venmo Touch in a bid to speed up smartphone shopping for its US customers.

Simple is the first online banking platform to receive Venmo Touch from Braintree, a service that saves a user’s payment information so that it is available across a range of apps. The payments layer lets users sign up for apps and make in-app purchases without re-entering their card details.

One-touch purchasing will be available to Simple customers across Venmo-enabled apps, including the likes of Angry Birds, TaskRabbit and TrunkClub.

Braintree intends to roll out its Venmo Touch product to other online banking providers.

Venmo Touch uses a network of apps built by Braintree, the payments company that is processing more than $10bn in payments annually.

Braintree CEO Bill Ready said the team up would help define the future of mobile banking. "With Venmo Touch, Simple is ensuring that their customers will have access to the absolute easiest way to pay on mobile devices," he said.

In another tech collaboration, Simple is planning to integrate its banking services with Dropbox, the cloud storage app. iPhone customers can make a transaction in their Simple account by placing a file in a Dropbox account. Currently, Simple users can take a photo of a cheque to deposit money into their Simple account.

"We’re thrilled to begin rolling out these enhancements to Simple over the next few weeks," said Simple co-founder Shamir Karkal.

"Partnerships with companies like Braintree and Dropbox allow us to rapidly bring innovation and enhancements to our customers’ financial lives," he said.

The service is not currently available to Android users. "We knew we couldn’t just translate our iPhone app into a new Android app – Simple for Android needed to be designed from scratch," said Dustin Barker, the director of mobile engineering at Simple.

 

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