HomeFinanceBraintree Payments Review: Features, Pricing and Alternatives

Braintree Payments Review: Features, Pricing and Alternatives

Braintree’s concentrate on e-commerce funds makes it a poor possibility for conventional brick-and-mortar retail operations. Still, companies that settle for on-line funds will admire the corporate’s clear pricing and vary of fee choices.

Braintree is a service provider companies supplier that gives fee processing companies for cell apps and web sites and is related to some well-known names in cell funds: PayPal and Venmo. Founded in 2007, Braintree acquired Venmo in 2012 and was bought by PayPal the next yr.

Online fee processing

This is Braintree’s bread and butter. Braintree Direct permits companies to simply accept funds on-line and via their cell app.

Businesses can settle for the next fee strategies with Braintree:

  • Credit playing cards: Visa, Mastercard, American Express, Discover and Diners Club.

  • Debit playing cards: Visa, Mastercard and Maestro (some markets).

  • Digital wallets: Apple Pay, Google Pay and Samsung Pay.

  • Venmo (accessible solely within the United States).

Point-of-sale funds

While Braintree focuses on e-commerce, the service does help in-person funds utilizing PayPal Here card readers. Business homeowners who settle for PayPal funds can order a PayPal Here reader for $24.99. Transactions are topic to PayPal Here pricing. There’s no extra payment from Braintree.

Features

Cryptocurrency processing

Recurring billing and subscriptions

Braintree costs a flat fee relying on the fee kind, with totally different charges for bank cards and digital wallets versus funds processed by test, PayPal or Venmo. In addition, choose companies might qualify for discounted charges or interchange-plus pricing.

Cards and digital wallets: 2.59% plus 49 cents per transaction for many. However, purchases utilizing an American Express card are charged 3.5% with no extra fastened payment.

Additional charges apply for bank cards issued exterior of the United States and for transactions in a overseas foreign money. Custom flat charges and interchange-plus pricing can be found for companies that course of greater than $80,000 per thirty days.

Chargebacks are $15 every.

Venmo: 3.49% plus 49 cents per transaction. Custom flat pricing is offered for sure companies.

ACH: 0.75% per transaction, most payment of $5. Discounted charges can be found for enterprise companies.

PayPal and PayPal credit score: Rates are decided by the phrases of your PayPal account.

There are not any charges for fee card trade compliance or early cancellation, and most clients don’t have any extra month-to-month charges, with one exception: companies that use Braintree solely as a fee gateway. Those companies pay $49 per thirty days and 10 cents per transaction, together with any charges charged by their service provider account supplier.

Transparent, aggressive pricing

Braintree’s charges are refreshingly simple compared with different service provider service suppliers. The firm costs a flat fee for many companies and publishes these costs on its web site. And Braintree’s charges are aggressive contemplating the corporate does not lump extra month-to-month charges on prime of its per-transaction fee (extra on that under). However, brick-and-mortar outlets merely searching for a gateway will seemingly discover higher offers.

No contract, minimal charges

Braintree clients join on a month-to-month foundation, so there is not any prolonged contract or dear early termination charges. There are few charges to talk of past the flat-rate, per-transaction payment for funds processed. Braintree does not cost extra month-to-month charges, PCI compliance charges or minimal transaction charges.

The solely charges clients can count on are a chargeback payment of $15 per incident and a 1% payment for changing transactions paid in overseas foreign money to U.S. {dollars}.

Customer service

Braintree has a score of simply 1.2 stars on TrustPilot, a shopper evaluate web site, primarily on account of poor critiques associated to customer support. Complaints declare help service is unresponsive, with many ready a number of weeks for points to be resolved. In addition, Braintree provides buyer help solely by e mail, with no phone possibility besides to succeed in its gross sales staff.

Not fitted to brick-and-mortar retail

While Braintree provides the choice to take in-person funds with a PayPal Here reader, the service will not be set as much as help conventional brick-and-mortar operations. As a outcome, retail shops, eating places and different companies that primarily settle for in-person funds ought to discover different choices.

Square

Square and Braintree supply lots of the identical advantages: clear pricing, no month-to-month charges or PCI compliance charges, and no long-term contracts. However, Square provides fee processing options for brick-and-mortar retailers and eating places (Braintree caters to e-commerce companies).

  • Competitive transaction charges.

  • No processing charges on buyer refunds.

  • Free point-of-sale software program and cell card reader.

Dharma

Dharma Merchant Services is one other prime possibility for e-commerce companies, with clear charges and low transaction charges for on-line funds. But it does cost a month-to-month software program payment ($25) and an account closure payment ($49). Dharma makes use of an interchange-plus pricing mannequin and provides decreased charges for companies processing over $100,000 per thirty days.

  • Compatible with a wide range of point-of-sale methods.

  • No minimal transaction charges.

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