Braintree Payments Review: Here we view fleetingly at Chicago founded Braintree Payments, emphasizing some of the features a merchant/vendor might reflect on – when selecting a payment processor.
Braintree has got some heavy weight support right behind it. PayPal purchased Braintree Payments around 2013 at $800 billion mentioning their products & development platforms were “corresponding.” Clearly PayPal also had interest in Venmo, a PayPal rival. Braintree bought Venmo around 2007. Venmo allows folks forward each other money utilizing an email address or mobile phone number & this is executed for free.
Braintree was established around 2007, attracting around $69 in venture capital funding, hence revealing its potential earlier on. The platform is famous with technology startups including those of Fab, Airbnb, LivingSocial, Twilio, Uber & GitHub. Of about $12 billion in payments administered by Braintree in 2013, about $4 billion was made utilizing mobile devices, revealing its wide adoption for mobile payments.
Whereas some analysts have mentioned that Braintree’s pricing is high, they are quite same as that of Stripe. The prices revealed as below do not comprise any shocks; as there are no extra fees such as setup or monthly maintenance fee charges.
- 2.9 percent plus $0.30 per transaction
- $15 for every chargeback
Test Driving with Braintree
Anyone can generate an account in the sandbox to find out what the interface appears like. There’s nothing to offer away except just an email address. As it’s a sandbox, it doesn’t carry out any real payment processing. Below is the main dashboard:
Products & Services
Braintree offers its customers with a merchant/vendor account if they desire so. So there is no need to pay any bank or financial institution for that. Additionally, Braintree provides these products & services & more:
- Credit card vault: keeps consumer’s payment data in encrypted layout. The capability to download stored credit card data would more simply allow the merchant switch to another payment processor if they desired to. Ecommerce engines linked to that allow customers update their payment info.
- Recurrent billing: storing consumer data within the vault makes handling donations, subscriptions, SaaS fees, or some other kind of recurring payments simpler.
- Mobile: works with mobile apps from the ecommerce partners stated below. And their SDKs permits merchants program their own payment buttons & apps for iOS & Android.
- International: accessible to merchants within the US, Europe, Australia, Hong Kong, Singapore, Malaysia, and New Zealand. This system supports about 130 currencies.
- Payment gateway: clearly they offer a payment gateway, as that is reason you are perusing this.
For businesses that open a merchant/vendor account with Braintree, the organization hands the merchant/vendor over to SecurityMetrics. They support Braintree consumers get & retain PCI Compliance by delivering the needed yearly survey.
Braintree also mentions that its encryption allows customers generate transactions “without the PCI compliance encumbrance that comes with managing unencrypted data.” A vendor/merchant utilizing a credit card must meet PCI compliance. Although other system of payment don’t necessarily require such! PCI-compliant POS & credit cards – even with EMV chips, aren’t the best solution for security as such systems don’t support end-to-end encryption.
Braintree supports every form of payment methods revealed below. However – cash isn’t one of them, as it is not a brick & mortar POS system:
- Apple Pay
- Android Pay
- Credit cards
- Bitcoin – thru the Coinbase exchange
Some Other Tools
- Fraud Tool: aids in protecting against chargebacks. They aren’t automatically added to the consumer’s account, as there are various to select from: basic, advanced, or incorporation with the Kount cloud service at a fee.
- Webhooks: sends notification to the merchant/vendor in the case of specific events in the payment gateway rather than requiring that the merchant check for such. These comprise subscription variations, disbursements from the merchant/vendor’s account, uncertain transactions & sub-merchant account status changes. It functions as a function callback in event driven programming by forwarding a POST to a URL on your website. Hence the merchant/vendor can broadcast that data to any other app.
There are 3 choices:
- Merchants/vendors can add Braintree to their ecommerce website utilizing their SDKS listed beneath.
- Utilize the Braintree Payments extension for Magento. This necessitates some PHP coding.
- Choose an ecommerce engine with Braintree already incorporated. Such are listed under Partners beneath.
Braintree states that developers can initiate a transaction or deal with as minimal as “ten lines of coding.” Below are 3 lines within Ruby.
Here beneath – we list the supported platforms/providers. Client translates to mean for inclusion in a mobile apps or that of web pages. Server is to incorporate with the backend processing in your ecommerce engine or system.
server:Ruby, Python, PHP, Node.js, Java, .NET
Organizations that do not have their own programmers can speak to any of these Braintree partners to aid with the Braintree merging/integration.
Bigcommerce Spree Recurly Freshbooks
Goodsie Shopify WooCommerce LemonStand
CoreCommerce UberCart UltraCart Wufoo
Birdback Hostbill Easy Digital Downloads Innerfence
ShopSite Fleapay Foxycart(…22 more)
The support of Braintree offers a knowledge base, whose value usually relies on how easy it is to look up data. Thus that you actually find what you are seeking for, the firm pay for the Google Custom Search Engine for their website.
Support teams are accessible from 8 AM CST to 7 PM, apart from Friday – when it is 8 AM to 5 PM. There is also an emergency demand form so that if the vendor opens a ticket after working hours – they can retort to a prompt to page an agent.
If the vendor or merchant doubts that the payment platform is down, then they can take a swift peep at the system status page to find out if there is an overall outage in their area.
Below are what some of their clients have to mention:
This very one is really worth talking about since not even PayPal adds that: 2-factor authentication. This needs a cellphone generated token to initiate a login, thus if hackers steal a password, they won’t be able to login, as they likely would not have the cellphone also.
In case you have any other questions, you can begin with their FAQ page here.