Braintree Payments is a full-stack payments platform acquired by PayPal. Braintree’s application is not codeless and requires some understanding of coding. It enables integration with debit and credit cards, Venmo (in the United States), and digital wallets. Customers in the United States, Canada, Australia, Europe, Singapore, Hong Kong, China, Malaysia, and New Zealand can use Braintree Payments.
Users need to fill up a signup form to start availing of Braintree Payment’s services. In some cases, additional payments may be required from users before they can initiate transactions.
Pricing and cost of Ownership
Braintree Payments charges 2.9% of the transaction amount, +$0.30. (for card and digital wallet transactions) Braintree’s customized pricing plans are available for businesses depending upon their business model. Users need to provide additional details if they wish to opt for a customized pricing plan.
Braintree charges an additional 1% fee for all transactions other than US dollars. 1% fee is also charged for all non-US based credit cards.
No monthly payment options are available. There is no minimum transaction processing fee.
Fraud detection: Braintree Payments offer two types of fraud protection tools: basic and advanced. The basic fraud protection tools include risk threshold, address verification checks, and card verification value checks. Advanced fraud protection tools include fraud protection using geolocation, device information, and kount custom.
Kount custom integration helps users create their own fraud rules. It is a part of Braintree’s advanced fraud protection tools. Kount is a third-party provider that uses geolocation, fingerprinting, and industry data to detect fraud. It helps users safeguard their financial transactions. However, some minimum criteria need to be fulfilled if a user wants to opt for Kount custom. The user needs to process a minimum of 2500 transactions per month. Moreover, an extra fee is charged for Kount custom. Users can interact with Braintree Payment’s support team. This will help them know whether Kount custom is an appropriate decision for their business.
3D Secure 2 makes data-driven authentication possible. It meets PSD2’s customer authentication requirements. It helps authenticate card transactions and can help move liability from a merchant to a card issuer in the case of chargebacks. (depending upon the card) Braintree’s solutions support exemptions that can be availed of under Strong Customer Authentication requirements.
To enable data collection for fraud protection, users must use the minimum client SDK version. These are the minimum client SDK versions:
- iOS 4.32.0
- Android 3.9.0
- Web 3.58.0
Users must update the client-side and the server-side code to collect device data. The Kount Custom integration may not be successful if these codes are not updated on time.
Report generation: Different types of reports can be generated. Users can view transaction disputes. They can submit the documentation required for the dispute in the Control Panel. They can conduct an advanced transaction search and filter searches using criteria like card type. They can view a summary of their transactions, which are divided into different categories based on the payment method. Users can receive real-time notifications based on the actions performed through the payment gateway.
Apart from standardized reports, users can prepare customized reports according to specific criteria.
Recurring Billing: Braintree Payments enables users to charge recurring fees from clients. Users can create discounts, add-ons, rewards, and promotional periods for clients. Subscription plans can be created, and a trial period can be set. Customers’ card details and personal details can be stored, which makes it easy to view them at a central location.
In-store payments: Braintree Payments makes in-store payments possible as the PayPal Here SDK can be integrated with the mobile POS application. Currently, in-store payments are only available in Australia, The United Kingdom, and the United States.
Data security: Braintree Payments is Level 1 PCI compliant. It is a part of Visa’s Global Compliant Provider and Mastercard’s SDP List. No critical data like raw magnetic stripe, card validation codes, and PIN block data is stored.
Braintree Payments monitors employee, vendor, and customer activity. This ensures that any suspicious activity quickly comes to notice. Encryption keys with split knowledge and dual control are utilized. Passwords are not stored in Braintree Payment’s database. Moreover, vulnerability scans are conducted regularly.
Worldwide payments: Payments can be made on a global level using Braintree Payments. The service is available in more than 45 countries/regions around the world. Flat rate and interchange plus pricing options are available. Braintree Payments works with local banks in different countries, which helps businesses know their acceptance rates.
Data migration: Braintree Payments supports credit card portability. Data can be imported into the Braintree gateway and exported if the need arises. For instance, customers can import and export customer and credit card records. However, users cannot export information related to subscription plans or transaction information.
Both settlement and presentment currencies: Braintree enables you to display a currency on your website, which is also the customer’s home currency. Braintree helps fund conversion to take place from one currency to another.
Easy to use: Users need to store details like customer information in Braintree’s application. However, this information does not need to be re-entered as it is stored in the database. This makes Braintree Payments easy to use.
No fees is charged to a user for data migrations.
Braintree offers the following types of products: –
- Braintree Direct: Braintree Direct enables merchants to accept different types of payment options online.
- Braintree Extend: Braintree Extend enables businesses to connect with service providers or partners through data sharing tools. Companies can work on features like checkout or commerce experiences.
- Braintree Auth: Braintree Auth helps Braintree service providers interact with Braintree merchants. Service providers can make decisions on behalf of the merchants.
- Braintree Marketplace: Braintree Marketplace enables buyers and sellers to interact with each other at a single location. Multiple payment options, fraud checks, and customizable API’s help merchants offer unique experiences to customers.
Braintree Payments offers partner integrations, integrations vetted by Braintree, enterprise plug-ins, and integrations in multiple categories. The category-based integrations include accounting and finance, analytics, and miscellaneous integrations.
Braintree offers two types of integrations: Drop-In and Custom UI based integrations.
- Drop-In Integrations: The drop-in UI includes a card entry form. Enabling it helps your client code to obtain a payment method nonce.
- Custom UI Integrations: Users can create their custom UI integration by using client SDK’s. They can accept payment options like cards and PayPal. Using Custom UI integration helps clients to design the entire checkout process according to their convenience.
Braintree Payments offers white-glove support to software users. These are the types of support that it provides: –
- Merchant Support: Users can seek help concerning integration, the Control Panel, and updating their user information.
- Sales Support: Individuals can seek sales support before making purchase decisions. Often, a customer needs guidance and cannot decide alone. They may require an explanation of Braintree’s features, the application process, and pricing.
- Account Management: Users can know about Braintree’s feature updates for merchants. They can understand how their type of business affects the features they can access. Braintree’s support team is available through e-mail and phone.
User Queries and FAQs
When will funds be made available after transactions are processed?
Most transactions will be processed within 3-5 working days.
How many currencies are supported by Braintree Payments?
More than 130 currencies are supported by Braintree Payments.
Will I be charged if a customer raises a dispute?
Braintree Payments will charge $15 per chargeback/incident when a customer raises a dispute.
What are customer support hours?
Braintree Payments offers customer support to merchants located in Canada and the United States.
E-mail: 5 am to 12 am (US Central Time), Monday to Thursday and 5 am to 8 pm on Friday (US Central Time)
Phone: 8 am to 7 pm (US Central Time), Monday to Thursday and 8 am to 5 pm on Friday (US Central Time)
Emergency customer support is offered 24*7.
Is PCI compliance necessary before accepting credit card payments?
PCI compliance is necessary, otherwise, your credit card can be blocked or suspended.
Now that you know what Braintree Payments is, you can consider benefiting from its services. Users can refer to the support documents on Braintree Payment’s website. These documents will enable them to use the application in a way that helps them maximize their benefits.
The decision to use Braintree depends upon the type of business and the technical capabilities of its workforce. Braintree may be challenging to work for people with no or low experience in the technical field. On the other hand, it may be an excellent option for businesses that wish to engage in the marketplace. Companies that work with clients worldwide and want to help them make payments in multiple ways can also benefit from Braintree Payments.