Braintree Payments, a comprehensive payments platform, was acquired by PayPal.
Unlike some other platforms, Braintree’s application requires a certain level of coding proficiency. It facilitates integration with various payment methods including debit and credit cards, Venmo (available in the United States), and digital wallets. Braintree Payments can be utilized by customers in several regions such as the United States, Canada, Australia, Europe, Singapore, Hong Kong, China, Malaysia, and New Zealand.
To begin using Braintree Payment’s services, users are required to complete a signup form. Additionally, in certain instances, users may need to make additional payments before they can initiate transactions.
Pricing and cost of Ownership
Braintree Payments applies a fee of 2.9% of the transaction amount, plus $0.30 for card and digital wallet transactions. Customized pricing plans tailored to specific business models are offered by Braintree. Users interested in such plans need to furnish additional details to proceed.
For transactions conducted in currencies other than US dollars, Braintree imposes an extra fee of 1%. Similarly, a 1% fee is levied on credit card transactions originating from non-US locations.
Braintree does not offer monthly payment options, and there is no minimum transaction processing fee.
Features
Fraud detection: Braintree Payments provides users with two tiers of fraud protection tools: basic and advanced. Basic fraud protection tools encompass risk threshold settings, address verification checks, and card verification value checks. Advanced fraud protection tools include geolocation-based fraud prevention, device information analysis, and integration with Kount custom.
The Kount custom integration allows users to establish their own fraud detection rules and is part of Braintree’s advanced fraud protection suite. Kount, a third-party provider, employs geolocation data, fingerprinting technology, and industry insights to identify fraudulent transactions, thereby enhancing financial security. However, users must meet certain criteria to opt for Kount custom, such as processing a minimum of 2500 transactions per month, and an additional fee applies. For guidance on whether Kount custom is suitable for their business, users can consult Braintree Payment’s support team.
3D Secure 2 enables data-driven authentication, ensuring compliance with PSD2’s customer authentication requirements. This feature facilitates authentication of card transactions and may shift liability from a merchant to a card issuer in chargeback scenarios, depending on the card type. Braintree’s solutions also support exemptions available under Strong Customer Authentication requirements.
To enable data collection for fraud protection, users must ensure they are using the minimum client SDK versions:
- iOS 4.32.0
- Android 3.9.0
- Web 3.58.0
It is essential for users to update both the client-side and server-side code to gather device data effectively. Failure to update these codes promptly may result in unsuccessful integration of Kount Custom.
Report Generation: Braintree Payments offers various types of reports to users. Users can access transaction dispute reports and submit necessary documentation through the Control Panel. They can conduct advanced transaction searches and filter results based on criteria such as card type. A summary of transactions categorized by payment method is also available. Real-time notifications based on actions performed via the payment gateway are provided. Additionally, users can generate customized reports tailored to specific criteria.
Recurring Billing: Braintree Payments facilitates the charging of recurring fees from clients. Users can create discounts, add-ons, rewards, and promotional periods for clients, as well as establish subscription plans and trial periods. Card and personal details of customers can be stored centrally for easy access.
In-Store Payments: Braintree Payments supports in-store payments through integration with the PayPal Here SDK, enabling mobile POS application integration. Currently, in-store payments are available in Australia, the United Kingdom, and the United States.
Data Security: Braintree Payments is Level 1 PCI compliant and is included in Visa’s Global Compliant Provider and Mastercard’s SDP List. Critical data such as raw magnetic stripe, card validation codes, and PIN block data are not stored. Braintree Payments monitors employee, vendor, and customer activity to quickly detect any suspicious behavior. Encryption keys with split knowledge and dual control are utilized, and passwords are not stored in Braintree Payment’s database. Regular vulnerability scans are conducted to ensure data security.
Global Payments: Braintree Payments facilitates payments on a global scale, operating in over 45 countries/regions worldwide. Users have the option to choose between flat rate and interchange plus pricing models. Braintree collaborates with local banks in various countries, providing businesses with insights into their acceptance rates.
Data Migration: Braintree Payments supports credit card portability, allowing users to import and export data within the Braintree gateway as needed. Customer and credit card records can be imported and exported, although information related to subscription plans or transaction details cannot be exported.
Settlement and Presentment Currencies: Braintree allows users to display a currency on their website that matches the customer’s home currency, facilitating seamless fund conversion between currencies.
User-Friendly Interface: Users are required to store customer information within Braintree’s application, eliminating the need for repetitive data entry as the information is stored in the database. This enhances the user experience by simplifying the payment process.
No Data Migration Fees: Braintree does not charge users for data migrations, further streamlining the transition process.
Braintree Products:
Braintree provides a range of products designed to cater to diverse business needs:
- Braintree Direct: This product empowers merchants to accept various payment methods online seamlessly.
- Braintree Extend: Businesses can utilize Braintree Extend to establish connections with service providers or partners via data sharing tools. This enables collaborative efforts on features such as checkout or commerce experiences.
- Braintree Auth: Braintree Auth facilitates interaction between Braintree service providers and merchants. Service providers gain the ability to make decisions on behalf of merchants.
- Braintree Marketplace: With Braintree Marketplace, buyers and sellers can engage with each other in a unified platform. Merchants can leverage multiple payment options, fraud checks, and customizable APIs to deliver unique customer experiences.
Third-Party Integrations
Braintree Payments provides a variety of integration options to suit different business needs:
- Partner Integrations: These integrations are developed in collaboration with Braintree’s partners to offer seamless connectivity and enhanced functionalities.
- Braintree-Vetted Integrations: Integrations that have been thoroughly reviewed and approved by Braintree to ensure compatibility and reliability.
- Enterprise Plug-Ins: Tailored integrations designed specifically for enterprise-level businesses to meet their unique requirements and scale.
- Category-Based Integrations: Integrations categorized into various segments such as accounting and finance, analytics, and miscellaneous tools, catering to specific business needs.
Braintree offers two main types of integrations:
- Drop-In Integrations: These integrations feature a pre-built card entry form, simplifying the process for users to obtain a payment method nonce through client-side code.
- Custom UI Integrations: Users have the flexibility to create their own custom UI integrations using client SDKs. This allows them to accept payment options such as cards and PayPal while designing the entire checkout process according to their preferences and requirements.
Customer Support
Braintree Payments offers personalized support services to software users, encompassing the following categories:
Merchant Support: Users can receive assistance related to integration, navigating the Control Panel, and updating their user information.
Sales Support: Individuals can access guidance and assistance during the pre-purchase phase, aiding them in understanding Braintree’s features, application process, and pricing structure.
Account Management: Users can stay informed about Braintree’s latest feature updates tailored for merchants and gain insights into how their specific type of business influences the features available to them. Braintree’s dedicated support team can be reached via email and phone for assistance.
Conclusion
Once acquainted with Braintree Payments, users can explore its services to their advantage. By referring to the support documents available on Braintree Payment’s website, users can leverage the application effectively to maximize their benefits.
The decision to utilize Braintree hinges on the nature of the business and the technical proficiency of its workforce. While Braintree may present challenges for individuals with limited technical experience, it can prove to be an excellent solution for businesses aiming to venture into the marketplace. Moreover, companies catering to clients globally and seeking to facilitate payments through various channels can greatly benefit from Braintree Payments.
