Paddle, founded in May 2012 by Ed Lea, enables e-commerce transactions to be completed in a few seconds with just a couple of taps. Paddle completes payment for its users, rather than having them fill out forms. The company has received a funding of $203.7K (£150k) through Seed Round in June 2012. Paddle is based in London.
This video gives you an overview of the Paddle App:
About their platform:
- Paddle Accepts payments via MasterCard, Visa, PayPal & American Express. They utilize Braintree as payment processor.
- No one at Paddle has access to the user’s card details.
- Users do not have to fill in a cumbersome list of personal and payment details everytime they need to complete a transaction.
- Paddle app only requires the users to provide these details once, which then get stored automatically and in a secure manner.
- The system uses banking-grade security measures to keep card details encrypted. Also, for higher security - the system requires that the user types in the security code for the card he is utilizing to make the payment.
- Any web page that is equipped with the ‘Pay with Paddle’ facility, enables users to checkout with a single click. The entire process takes less than 15 seconds says the company.
- Users can make payments while shopping via smarpthone or laptop/desktop. This is made easy with Paddle’s use of QR codes for their system.
- When a user clicks on the Paddle button on the website, Paddle generates an individual QR code on the screen which he then scans with the dedicated app.
The Paddle API makes it easy for its functionality to be integrated with other existing e-commerce systems. It enables developers to access and integrate the functionality of Paddle with other applications. A few example API methods include accepting payments, reviewing transactions & adding Paddle buttons on sites and applications.
“Most mobile payments don’t make the payment easier and online is especially cumbersome. With Paddle, consumers have an easier purchase experience on the mobile web,” said CEO Ed Lea.