It is simple to accept payments in your app or website thanks to Braintree, a full-stack payments platform. The conventional method of getting a merchant account and payment gateway from separate suppliers is replaced by their service. Acceptance ranges from mobile SDKs and foreign currencies to single-touch payments. It is a Chicago-based business that focuses on providing e-commerce businesses with mobile and web payment solutions. Clients can get a merchant account and a payment gateway from Braintree. On September 26, 2013, PayPal bought the business.
Services and goods
Businesses can accept payments online or through their mobile application thanks to Braintree. Braintree introduced instant signup on October 1st, 2012, cutting the time required for US merchants to sign up to a few minutes. The v.zero SDK was introduced by Braintree in July 2014. PayPal and other payment methods can be integrated automatically into shopping carts. The business announced a collaboration with Coinbase in September 2014 to accept Bitcoin. Among the businesses that have introduced the v.zero SDK, which offers “One Touch Payments”, are GitHub and ParkWhiz. One Touch Payments are also supported by PayPal for mobile. These users are not required to set up an account on an online store or submit their credit card information each time they want to make a purchase. The idea behind One Touch was inspired by a previous product called Venmo Touch, which was created in collaboration with Venmo, the payments platform that Braintree acquired in August 2012. The first one-touch mobile purchasing platform to enter the market was Venmo Touch.
Integration of Braintree
To integrate, Braintree needs some coding expertise as well as development skills.
In addition to mobile libraries for iOS and Android, Braintree offers client libraries and integration examples in Ruby, Python, PHP, Java, NET, and Node.js, as well as Braintree.js for in-browser card encryption. Additionally, BigCommerce, WooCommerce, and Magento are just a few of the popular eCommerce and billing platforms that Braintree supports. Basic integration with Braintree can be finished by a competent developer in less than 30 minutes. Of course, depending on how complex the project is, integration times can vary greatly.
Moveable credit card information
The credit card data portability standard was created by Braintree in 2010, and it was approved as an official action group of the DataPortability initiative. The PCI-compliant provision of credit card data and related customer information to an existing merchant upon request is supported by an opt-in community of electronic payment processing providers.
Time required to open a Braintree account
After completing the signup form, certain merchants can begin utilizing Braintree right away, but in other circumstances, further information must be gathered before processing can begin. They will get in touch with you as soon as possible if that occurs.
Recurring charges
Recurring billing options from Braintree make it easier to bill for SaaS, media subscriptions, ongoing donations, and other cycles of billing. The Braintree Vault allows you to save your clients’ payment information, and each billing cycle, they’ll take care of it automatically. Braintree will automatically retry past-due subscriptions using the settings you specify for your retry logic. To automatically inform clients of declined transactions and past-due payments, you can also design customized emails. Sometimes referred to as “dunning” management, these qualities. You’ll have the freedom to design pricing strategies that are effective for your company. You can use discounts and add-ons to make special offers or rewards for your most loyal clients, set unique start and end dates for your plans, and make another adjustment to precisely when you want the billing cycle to end.
Costs for currency conversion
The costs that are charged when your clients transact internationally are a few exceptions to this rule. A 1% fee is charged for any transactions presented in currencies other than US dollars, and an extra 1% fee is charged for transactions made with payment cards issued outside of the US.
Chargebacks
One of the risks of accepting credit cards is chargebacks. Chargebacks are your responsibility and cost a fair $15. This is unavoidable and industry-standard.
Customer support and technical assistance
Customer service and technical assistance are readily available from Braintree. Although there isn’t a live chat option, you can obtain unlimited free email and phone assistance. Braintree advertises that it provides “white-glove support”.
Take away
Today, Braintree processes more than 6 billion transactions (and more than $50 billion) yearly, making it one of the major players in the payments sector. Despite its enormous size, the corporation continues to concentrate nearly entirely on the eCommerce industry and has very little to offer retailers who primarily sell goods in physical stores. However, as more and more payment processing systems move to the cloud, there are more and more chances for businesses in all industries to benefit from Braintree’s payment gateway.
