Braintree, a leading online payment solution, was founded in 2007 by Bryan Johnson. Over the years, it has grown exponentially and now boasts a team of 500+ dedicated employees. With its headquarters situated in Chicago and global offices in New York, San Francisco, Austin, London, Sydney, and Singapore, Braintree has established itself as a prominent player in the payment industry.
Since its acquisition by PayPal in 2013, Braintree has continued to thrive, with an estimated annual revenue currently standing at an impressive $61.8M. With its strong foundation and global presence, Braintree is well-positioned to provide businesses with exceptional payment solutions for their online transactions.
What is Braintree?
Braintree is a renowned online payment solution that caters to a wide range of target customers, including online merchants in various industries such as e-commerce, SaaS, mail/telephone orders, and B2B.
With a specific focus on e-retailers, Braintree offers a host of benefits designed to enhance their online selling experience. By leveraging Braintree’s services, e-retailers can effortlessly sell products and services online without the need for salesperson engagement, providing a frictionless and efficient buying experience for their customers. Additionally, Braintree takes pride in establishing personal communication with merchants, ensuring they are well-informed about industry nuances and potential pitfalls.
Getting started with Braintree is a seamless process. To integrate Braintree’s payment capabilities into your e-commerce business, visit the Braintree website and click the “Contact Sales” option. Fill out the provided form, and rest assured that a Braintree representative will reach out to you promptly to guide you through the registration process. With Braintree’s support, you can quickly and easily enhance your online payment infrastructure and unlock the benefits of a streamlined and secure payment solution for your business.
The Features of Braintree
International Coverage
Braintree’s international coverage makes it an attractive solution for companies that engage in cross-border selling and require alternative payment options beyond traditional methods. With lower currency conversion fees compared to other solutions, Braintree enables businesses to expand their reach globally. Braintree is available to merchants in over 45 countries/regions worldwide, allowing them to cater to a diverse customer base.
Fraud Protection
Braintree offers comprehensive fraud protection features to safeguard your business from fraudulent activities. In addition to basic fraud tools such as AVS, CVV, and risk thresholds, Braintree’s Fraud Protection and Fraud Protection Advanced provide advanced fraud detection capabilities without the need for additional integration. These features allow you to:
- Minimize chargebacks: Benefit from decades of intelligence gathered from Braintree and PayPal to detect and prevent fraudulent transactions effectively, reducing losses associated with chargebacks.
- Reduce false positives: Industry-recognized machine learning technology powers customized filters and provides real-time actionable recommendations, helping you stay ahead of evolving fraud trends while minimizing the chances of blocking legitimate transactions.
- Reduce friction: Customize and test filter thresholds to automatically approve or decline transactions based on your specific business needs. This intuitive user interface streamlines the decision-making process, ensuring a smooth and seamless experience for your customers.
Advanced Reporting
With Braintree’s advanced reporting capabilities, you can gain valuable insights into your transactions and effectively manage your payment data. The key features of advanced reporting include:
- Transaction tracking: Easily monitor and track your transactions, providing you with accurate information about expected amounts and settlement dates.
- Customized search options: Conduct advanced transaction searches based on specific criteria such as card type, created date, settled date, and more, enabling you to filter and analyze your payment data with precision.
- Dispute management: Access transaction dispute details and submit supporting documentation directly within the Control Panel, streamlining the resolution process.
- Settlement batch summary: Retrieve comprehensive information about transactions processed in each batch, categorized by payment method, facilitating reconciliation and financial reporting.
- Webhook notifications: Receive real-time updates on events occurring within your payment gateway, ensuring you stay informed about important transactional activities.
Data Security
Braintree prioritizes the security of your data and provides robust measures to protect sensitive information. Key aspects of Braintree’s data security include:
- Level 1 PCI compliance: Braintree’s environment meets the highest industry standards and guidelines for Payment Card Industry Data Security Standard (PCI DSS) compliance, ensuring your transactions are securely processed.
- Prohibited data storage: Braintree does not store raw magnetic stripe data, card validation codes (CVC/CVV), or PIN block data, minimizing the risk of data breaches.
- Data encryption via the Braintree Vault: Sensitive customer information is securely encrypted and stored within the Braintree Vault, adding an additional layer of protection to sensitive data.
- Authentication and session management: Braintree employs robust authentication and session management protocols to ensure secure access and protection against unauthorized access.
- Activity monitoring and testing: Regular monitoring and testing procedures are in place to identify and address potential vulnerabilities, ensuring the ongoing security of your data.
All-in-One Payment Methods
Braintree simplifies the payment process by offering access to a wide range of payment methods through a single integration. With Braintree’s all-in-one payment methods, you can accept payments via PayPal, Venmo (in the US), credit and debit cards, as well as other relevant digital wallets and local payment methods. The benefits of this feature include:
- Single integration: Enjoy the convenience of a single integration for all available payment methods, both now and in the future as new methods are added.
- Optimized for web and mobile: Braintree’s payment methods are designed to work seamlessly across web and mobile platforms, ensuring a smooth and consistent payment experience for your customers regardless of the device they use.
The Price Of Braintree
Braintree’s fees can vary depending on the method of payment and other conditions. Let’s explore the pricing system in more detail.
Cards and Digital Wallets
For standard merchants, Braintree charges a fee of 2.59% + $0.49 per transaction for Visa, Mastercard, Discover, JCB, UnionPay, Diners Club, and American Express cards, as well as digital wallets. Verified charitable 501(c)(3) organizations enjoy special pricing of 1.99% + $0.49 per transaction for the same payment methods.
E-retailers can leverage Braintree’s support for various cards and digital wallets to offer their customers a wide range of payment options. By accepting major credit cards and popular digital wallets, e-retailers can enhance convenience and cater to diverse customer preferences. The transparent and competitive pricing structure ensures that e-retailers can process transactions efficiently and cost-effectively, allowing them to focus on growing their business.
PayPal and PayPal Credit
The fees for PayPal and PayPal Credit are subject to the terms applicable to your PayPal account. For more details, it is advisable to contact PayPal directly or visit the PayPal pricing page.
Integrating PayPal and PayPal Credit as payment options through Braintree allows e-retailers to tap into the vast customer base and the established trust associated with PayPal. By offering these payment methods, e-retailers can enhance checkout experiences, increase conversions, and provide customers with flexibility in how they make payments.
Venmo
Braintree charges a fee of 3.49% + $0.49 per transaction for payments made through Venmo. It’s important to note that Venmo is available only in the United States.
With Venmo’s growing popularity, e-retailers can leverage this payment option to appeal to a younger demographic that frequently uses the app for peer-to-peer transactions. By integrating Venmo through Braintree, e-retailers can tap into this market segment and provide a seamless payment experience for their customers.
ACH Direct Debit
For ACH Direct Debit transactions, Braintree charges a fee of 0.75% per transaction. The maximum per transaction fee is capped at $5. Additionally, a $5 return fee is assessed for each transaction returned by the banking network.
ACH Direct Debit offers e-retailers a cost-effective and secure way to process payments directly from customers’ bank accounts. By utilizing this payment method, e-retailers can provide an alternative to credit cards, cater to customers who prefer bank transfers, and reduce transaction costs associated with card processing fees. The capped fee and the return fee structure ensure transparency and cost control for e-retailers.
Protip: It’s essential for e-retailers to review and understand the specific pricing details, terms, and conditions provided by Braintree to make informed decisions about their payment processing needs.
Support from Braintree
Braintree provides robust support options to assist businesses in utilizing its platform effectively. Users can access the ticketing system, ensuring prompt assistance for any queries or technical issues they may encounter. You can access the support center by clicking Here.
Additionally, Braintree offers phone support and a comprehensive set of resources, including documentation, guides, and anti–phishing FAQs to assist businesses in navigating the platform. The support system is available in multiple languages, ensuring that businesses from different regions can easily access the assistance they need.
Conclusion
Braintree, a secure and leading online payment solution, has established itself as a trusted platform for businesses worldwide. With its solid foundation, global presence, and strong backing from PayPal, Braintree offers exceptional payment solutions to e-retailers and various target customers. By integrating Braintree into their online businesses, e-retailers can benefit from a secure and efficient payment infrastructure, expanding their reach and enhancing the customer experience.
Braintree’s features provide tangible benefits to e-retailers. The international coverage allows businesses to sell globally, offering alternative payment options and lower currency conversion fees. Robust fraud protection tools minimize chargebacks, reduce false positives, and offer frictionless transaction experiences. Advanced reporting features provide valuable insights and help businesses manage their payment data effectively. The emphasis on data security ensures the protection of sensitive customer information. Additionally, Braintree’s all-in-one payment methods simplify the checkout process, enabling e-retailers to accept major credit cards, digital wallets, and local payment methods through a single integration.
Understanding the pricing structure is crucial for e-retailers. Braintree offers competitive pricing for cards and digital wallets, catering to different merchant types. Integrating PayPal and PayPal Credit provides access to a large customer base while supporting Venmo appeals to a younger demographic. ACH Direct Debit offers cost-effective payment processing directly from customers’ bank accounts.
Braintree provides comprehensive support options to assist businesses in utilizing its platform effectively. Users can access the ticketing system for prompt assistance, and phone support is available. The support center offers a wealth of resources and documentation, ensuring businesses have the guidance they need. The multi-language support system ensures accessibility for businesses from various regions.
In conclusion, Braintree offers a secure and feature-rich payment solution that empowers e-retailers to thrive in the competitive online marketplace. By leveraging Braintree’s services, businesses can streamline their payment processes, expand globally, and provide a seamless and trusted experience for their customers.
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