NEW YORK (TheStreet) -- eBay's (EBAY) Braintree unit, an electronic-payment system for businesses acquired for about $800 million in 2013, is introducing a new development kit that seeks to make it simpler for e-commerce companies to get customers to buy on mobile devices, Bloomberg reports.
It's Braintree's first major upgrade since its purchase by EBay and will help website owners quickly add and customize checkout features, potentially saving weeks of work, says the unit's CEO Bill Ready.
Braintree's product will also be integrated with EBay's PayPal payment system which has over 148 million customers.
eBay, faced with stiff competition from Anazon.com (AMZN) and others, is adding new tools as it seeks to reach consumers who are making purchases through smartphones and tablets. Bloomberg said.
The company's shares of are up 1.32% to $50.84 this afternoon.
TheStreet Ratings team rates EBAY INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate EBAY INC (EBAY) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself."