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Braintree is a payment processing company that offers a range of solutions for businesses to accept online and offline payments. Founded in 2007, Braintree was acquired by PayPal in 2013.
Braintree's payment solutions include credit card processing, online invoicing, and mobile payments. The company's platform allows businesses to accept payments from customers in over 130 countries.
Braintree's solutions are designed to be scalable and customizable, making it a popular choice for businesses of all sizes.
What Is Braintree?
Braintree is a payment processor that allows online businesses to accept payments via app or website.
It provides merchant accounts and payment gateways, making it a convenient option for e-commerce businesses.
A PayPal Business account is required to use Braintree, which is a key aspect of the service.
Fees for using Braintree are 2.59% plus 49 cents per transaction for credit, debit, and digital wallets.
This fee structure is transparent and straightforward, giving businesses a clear idea of their costs.
Products and Services
Braintree offers a range of products and services that cater to businesses of all sizes. They provide instant signup for US merchants, streamlining the signup process to just a few minutes.
Their v.zero SDK allows for automatic integration of the shopping cart with PayPal and other payment types, supporting One Touch Payments that don't require users to create an account or enter credit card details every time they want to buy something.
Braintree accepts a variety of payment types, including credit cards, digital wallets, ACH, Venmo, and PayPal. They also offer recurring billing support, data migration assistance, and fraud mitigation tools.
Here are some of the key features of Braintree's payment gateway:
Braintree's pricing starts at $0/month, with a flat-rate processing model that includes a 2.59% + $0.49 fee for eCommerce transactions.
What Is Payments?
Payments are a crucial part of any business, especially for e-commerce merchants who need to process transactions efficiently.
Braintree is a merchant services provider that processes over 6 billion transactions and over $50 billion annually.
It's acquired by PayPal for $800 billion in 2013 and now operates under the name "Braintree — A PayPal Service".
Braintree is focused almost exclusively on the e-commerce sector, making it a popular choice for online businesses.
However, its cost increases have reduced its value proposition, making it less competitive in the market.
Payment Solutions Overview
Braintree provides businesses with the ability to accept online and in-app payments. It offers a true, full-service merchant account, complete with a unique merchant ID number for your business.
The company has a transparent pricing model, with a flat rate approach. The standard transaction fee is typically around 2.59% + $0.49 per transaction for online and mobile payments in the United States.
Braintree supports over 130 currencies and can accept payments in 45 countries. It also has a partnership with Coinbase to accept Bitcoin.
Here are some of the payment types and currencies supported by Braintree:
Braintree's pricing starts at $0/month, with a month-to-month contract length. The processing model is flat-rate, with no card-present transaction fee.
Features and Pricing
Braintree is a robust and versatile payment platform that can serve as a one-stop shop for businesses of all sizes. It supports various payment methods, including major credit and debit cards, digital wallets, and local payment options.
The platform employs robust protection tools to safeguard sensitive card data and reduce the risk of data breaches. Its complex fraud protection feature helps merchants detect and prevent suspicious transactions and scams.
Braintree's pricing model is transparent and straightforward with a flat rate approach. The standard transaction fee is typically around 2.59% + $0.49 per transaction for online and mobile payments in the United States.
Here's a breakdown of Braintree's pricing:
Businesses that process over $80,000 in sales per month may qualify for discounted rates.
At a Glance: Features
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Braintree is a feature-rich payment platform that accepts various payment methods, including major credit and debit cards, digital wallets, and local payment options.
It supports over 130 currencies and is available in 45 countries, making it a great option for businesses with a global reach.
The platform employs robust protection tools to safeguard sensitive card data and reduce the risk of data breaches.
Braintree's complex fraud protection feature helps merchants detect and prevent suspicious transactions and scams.
Its recurring billing feature is beneficial for subscription-based businesses, allowing them to set up recurring payment schedules, manage subscriptions, and handle changes or cancellations easily.
The platform's API is renowned for its ease of integration and developer-friendly documentation, making it an ideal choice for businesses seeking tailored payment solutions.
Here are some of the payment methods Braintree accepts:
- Visa, Mastercard, American Express, and other major credit and debit cards
- Apple Pay, Google Pay, and other digital wallets
- Local payment options
- American Express, JCB, Diners Club, and Union Pay credit cards
- ACH payments
- PayPal, PayPal Credit, and Venmo (available only in the U.S.)
Braintree's fees and per-transaction charges are nearly two times higher than the industry average, so businesses should make sure the cost justifies the benefits.
Pricing Overview
Braintree's pricing model is refreshingly straightforward, with a flat rate for most businesses. This means you'll pay the same rate for every transaction, without any hidden fees or surprises.
The standard transaction fee is 2.59% + $0.49 per transaction for online and mobile payments in the US. This rate applies to debit and credit cards, as well as digital wallets like PayPal and Apple Pay.
For businesses processing over $80,000 per month, there's the option to negotiate a custom pricing plan. This can be a flat-rate or interchange-plus pricing plan, which can be more affordable overall.
One of the benefits of Braintree's pricing model is that there are no setup or monthly fees for standard payment methods. This makes it a cost-effective option for small businesses and start-ups.
Here's a breakdown of Braintree's pricing fees:
Braintree's pricing is competitive, especially considering that there are no additional monthly fees. However, it's worth noting that other payment processors like Stripe and Square may offer more customization in fees for specific services.
Security and Support
Braintree prioritizes security and support to ensure a smooth experience for merchants. It's PCI compliant and offers features like Account Updater and 3D Secure to reduce the risk of chargebacks and fraud.
To further protect against fraudulent transactions, Braintree offers Fraud Protection with custom or out-of-the-box filters that provide actionable recommendations. This service also includes Fraud Protection Advanced as an add-on, which allows businesses to conduct an in-depth risk analysis and investigate potential fraud.
Braintree's customer service and technical support are readily available, with email and phone support at no charge and with no limits. You can also get service 24/7/365 via email from on-call reps and engineers in emergency situations.
Security Protection
Security Protection is a top priority for any business that processes payments online. Braintree offers a robust security system that includes 3D Secure, which requires additional cardholder verification to reduce the risk of chargebacks and fraud.
This feature is "easy to integrate and tough to crack", according to Braintree's website. By implementing 3D Secure, merchants can significantly reduce their exposure to fraudulent transactions.
Braintree's Fraud Protection feature helps merchants filter transactions and provides actionable recommendations to prevent chargebacks and fraud. This feature can be customized to fit the specific needs of your business.
Fraud Protection Advanced is an add-on service that allows businesses to conduct an in-depth risk analysis and investigate potential fraud. This service provides merchants with the tools they need to stay ahead of evolving fraud trends.
Customer Service
Braintree's customer service is a mixed bag. They have a 3.8-star rating for customer service, with reviewers praising high-quality support and a wide range of support hours. However, some reviewers have experienced unresponsive support, with issues taking several weeks to resolve.
You can contact Braintree's customer service via phone or email, with no live chat option available. They also offer 24/7/365 email support via on-call reps and engineers, which is a nice touch. Their support tickets and knowledge base are also available.
One thing to note is that Braintree's social media and blog presence hasn't been maintained as well as it used to be. This might be due to their integration with PayPal, but it's unclear.
Here are the details of Braintree's customer service options:
Braintree's customer service rating on TrustPilot is a concerning 1.2 stars, with many reviewers complaining about unresponsive support.
Frequently Asked Questions
Who is the CEO of Braintree?
Braintree's CEO is Bill Ready, who was appointed by founder Bryan Johnson in 2007.
Are Braintree and PayPal the same?
Braintree and PayPal are connected, but not the same - Braintree is a payments gateway platform acquired by PayPal in 2013. While they share a parent company, they operate as separate entities with distinct services.
Sources
- https://en.wikipedia.org/wiki/Braintree_(company)
- https://rates.fm/payment-systems/braintree-payments-review-features-pricing-and-alternatives/
- https://staxpayments.com/blog/braintree-payment-gateway/
- https://www.nerdwallet.com/article/small-business/braintree-payments-review
- https://www.merchantmaverick.com/reviews/braintree-payment-solutions-review/
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