Braintree Payment Solutions Review

Need Help Choosing?

Click Here

Date Established
2007
Location
Chicago, IL

Overview:

Is it a brain in the shape of a tree, or a tree that grows brains? I’m not entirely sure, but either way I can tell you that Braintree is definitely smart — smart as a business, and smart for businesses that want to accept payments through websites, smartphone apps, and mobile devices.

Braintree Payment Solutions offers a high degree of customizability and invaluable services that make it ideal for forward-thinking app developers, social market-style businesses, and other Internet-based, tech-driven merchants. It also provides seamless, frictionless billing while maintaining access to billing information in a way that most providers don’t allow.

A word of caution: There’s no brick-and-mortar POS solution here. For that, you’ll have to look at Braintree’s parent company, PayPal. Itself owned by eBay at the time, PayPal acquired Braintree in September of 2013, but has maintained it as an independent subsidiary. That doesn’t appear set to change, despite the Great eBay/PayPal Divorce of 2015.

2014, Braintree’s first full year under PayPal’s leadership, was a big one. It saw a $22.8 billion payment volume. (For comparison, PayPal’s payment volume in 2014 was $228 billion.) The money isn’t the interesting part of the story, though. The interesting numbers are found elsewhere: like the userbase, which more than doubled in a single year; or in mobile payments, where payments from Q3 to Q4 of 2014 increased four times over. That’s a significant jump in just three months (helped along, no doubt, by the introduction of Apple Pay).

Braintree, probably better than almost any other company out there, gets how important mobile is, and I think consumers are starting to notice, too.

I wholeheartedly recommend Braintree Payment Solutions. If you have no need for the developer tools and other capabilities beyond simple payment processing, then you might want to look elsewhere for the lowest rates. In my mind, though, Braintree offers incredibly valuable services at a fair price, and almost any merchant could benefit from processing with the company. Congratulations, Braintreeps (Braintree reps, get it? I didn’t make this up). You’ve earned a perfect 5-star rating.

Read on to learn more about what makes Braintree unique. To find a merchant account that accommodates brick-and-mortar sales, check out our guided merchant account finder.

Products and Services:

We’re not looking at just a simple merchant account provider here. There isn’t even a brick-and-mortar solution with Braintree. It’s mobile and digital products only. If you’re into e-tail, app development, or mobile anyway, you need to take a closer look. But with so many incredibly useful features, you might need to take a couple of days to process the possibilities. Everything is customizable, with the most painless integration you’re likely to find anywhere in the industry. Offerings include:

  • Merchant accounts: Braintree is a direct processor, so your payments account comes directly from this provider.
  • International accounts: Available in the US, Canada, Europe and even Australia, Braintree is a truly global provider. Not to mention that you can accept payments in over 130 currencies AND 6 languages. This is pretty unique.
  • Payment gateway: The in-house gateway comes as part of your account, although you can purchase it separately — for a fairly steep fee if you already have a merchant account. One of the big advantages to the Braintree gateways is unprecedented freedom (see below).
  • Data portability: The Braintree gateway uses its “vault” system to give you access to your customers’ stored payment information while maintaining PCI compliance. With other gateways, you lose access to this information if you decide to switch providers. This means that all of your recurring payments would be interrupted (a really bad thing). So I’m really impressed to see Braintree offering this wonderful feature.
  • Recurring billing: While a bunch of providers can hook you up with recurring billing, not many execute the service as well as Braintree. Customization is king with the Brain. This includes customized failed transaction management, pricing plans, discounts, promos, push notifications, rewards and add-ons, automatically prorated subscriptions, as well as search/reporting capabilities. And lets not forget the secure storage in Braintree’s vault.
  • Braintree Marketplace: For market-style merchants, you just cannot beat Braintree. If you fall into this category, I’m legitimately excited for you to try this service. Braintree will effortlessly split payments between you and your providers, keeping track of your 1099-K tax forms along the way. The flexible escrow service gives you the option to pay right away, or wait for fulfillment. Plus, it’s free. You only pay the normal processing rate for the initial transaction, and nothing else. Be aware that the marketplace feature only works for US-based companies with US-based providers.
  • Venmo payments: While we’re on the topic of Braintree’s marketplace, this service allows you to pay your market providers using their email addresses or mobile phone numbers, so you don’t have to deal with collecting and verifying bank account numbers
  • One-touch payments: App developers will love Braintree’s One Touch Payment option. We first saw this through Venmo, but now PayPal has adapted that into its own One Touch solution for apps and websites. Users can pay securely and easily, and PayPal will remember their information, so they can complete purchases more quickly in the future.
  • $50k in free processing: Developers who integrate with Braintree Payment Solutions get their first $50,000 in transactions completely free. After crossing that threshold, the standard fees and rates kick in. There’s no time limit on that offer, and you don’t have to process a minimum volume monthly or yearly. No, this isn’t a gimmick, but it is currently only available in the U.S. and Europe. Learn more about it here.

What’s New

Braintree rolled out 10 new products features in 2014, and I’m eager to see what else is in the works, especially since PayPal and Braintree share developer teams.

One of the most notable additions was support for Bitcoin, a digital currency, through Coinbase. Bitcoin has generally been at the fringes of the digital commerce sphere, but this support could change all of that. And all you need is to add the Braintree v.zero SDK to your site — which is super easy to do, and gives you a customizable user interface. With v.zero, you can also accept Apple Pay and Android Pay.

In early June of 2015, Braintree introduced something else new: a beta program for buyable pins on Pinterest. (If you’re not familiar, Pinterest is something of an online scrapbook or corkboard, where you can save everything from cute pictures of animals to recipes and craft projects, and much, much more.)

This isn’t new or revolutionary. Everyone is trying to figure out how to transform social media into social shopping — Facebook, Twitter, and Instagram have all experimented with it — but Pinterest is certainly a spectacular platform to do so, and if anyone can figure out how to make this type of commerce work, I’d put my money on Braintree. Social shopping could change how people sell things online, so it’s definitely worth keeping an eye out.

Fees and Rates:

For most of us, the rates and fees charged by Braintree Payment Solutions are incredibly simple:

  • 2.9%
  • $0.30 transaction fee

That’s it. One rate. No surcharges. No fees. So simple. That means:

  • No monthly minimum (used to be $75)
  • No monthly fee
  • No annual fee
  • No PCI compliance fee
  • No early termination fee
  • No set up fee
  • No gateway fees (monthly or setup)
  • No statement fees

You’ll be responsible for chargebacks, though, which come with a reasonable $15 fee. This is industry standard and  unavoidable. If you knew how much of an expensive pain in the ass it is for processors to deal with chargebacks, you’d consider $15 unbelievably low. The two-day payout is another plus. That means you’ll get your money quickly.

While I like that Braintree provides incredibly accurate and plain disclosure here, flat-rate services will never be as transparent as itemized fees and interchange-plus rates. All costs just come out of the 2.9% + $0.30, and you have no way of knowing the actual expense behind the scenes.

Still, I like this system for Braintree. The old pricing system had expensive monthly minimums and fees, making them a cost-prohibited provider to merchants with smaller volumes. Now, with this new pricing structure, all merchants can afford to use Braintree’s unique services.

A Quick Example:

For a point of reference, 2.90% + $0.30 is what you’d expect to pay for non-qualified e-commerce payments with a good-quality processor, along with maybe 1.90% + $0.30 for qualified. Figuring a half-and-half split between the two, you’d pay about 2.40% + $0.30 on average, making Braintree about 0.5% more expensive that I might like to see. So if you’re doing $5,000 worth of sales each month, you might expect to pay an extra $25 with Braintree. But when you consider that standard monthly service and gateway fees usually come in at about $25 anyway, you can see that Braintree is actually offering competitive pricing, most of all for low-volume merchants. In my opinion, it’s absolutely worth it, especially if you’re going to take advantage of the unique marketplace, partners API, recurring billing and data storage features.

High-volume merchants may qualify for customized pricing. Aside from that, though, don’t expect to be able to negotiate. Braintree is what it is, and it’s not going to make exceptions for just anyone. The company has already made huge changes to its pricing model to accommodate more merchants, and did a good job of it, in my opinion.

Contract Length and Early Termination Fee:

You’ll have absolutely no early termination fee with Braintree, which makes sense given that it’s a PayPal company. You can see the standard Braintree Merchant Agreement if you’re interested.

Another plus: If you do choose to leave Braintree, you get to take all of your customer data with you. That’s a really good deal.

Sales and Advertising Transparency:

With such a simple pricing structure, Braintree has an easy job when it comes to transparency. It discloses all rates, fees, and important contractual stipulations in plain sight, with absolutely no surprises.

The much tougher task here is properly describing all of Braintree’s many features and customization options. It’s a big job, but Braintree performs outstandingly. The website is very well organized, with answers to just about every question you could conceive of.

Braintree doesn’t have thousands of independent agents hitting the pavement to try to sell its products. All salespeople are in-house, as far as I know, and they know the Braintree products inside and out. This is an optimal sales situation.

Customer Service and Technical Support:

While many providers struggle to maintain an acceptable level of customer support, Braintree has a reputation for excellence in this category.

Braintree offers an extensive knowledgebase — an essential support feature in my opinion. Sometimes you just want to look something up without getting on the phone with customer support. By using this resource, you can solve the vast majority of issues on your own time.

If you need to get a hold of a knowledgeable “Braintreep” (Treep for short), you can do so during these hours:

  • Email: 5 a.m. to 8 p.m. US Central Time, Monday through Friday
  • Phone: 9 a.m. to 5 p.m. US Central Time, Monday through Friday

If it’s an emergency, you can get service 24/7/365 via email from reps and engineers on-call.

You’ll be impressed by Braintree’s Status page, where you can find information about outages or other technical difficulties in real time. This is a pretty unique and much-appreciated service.

Negative Reviews and Complaints:

Braintree has just two complaint with the BBB in the past three years, which was resolved to the satisfaction of the merchant with no further details provided. That’s outstanding. There are no actual complaints against Braintree on Ripoff Report, either. While you can search for “Braintree,” the results you’ll get are mostly for a town called Braintree, Massachusetts.

I don’t know how to communicate to you how unspeakably low this complaint volume is for a processor of Braintree’s size and type. Even Stripe Payments, a Braintree’s major competitor with a similar business model, has about 150 complaints with the BBB. Somehow Braintree manages to move $23 billion around per year without upsetting almost any customers. That’s a serious feat!

I scoured the internet for Braintree complaints, and found a few. For the most part, these complaints don’t come from Braintree’s clients. They come from outsiders looking in, complaining that the old pricing model was cost-prohibitive.

First of all, I think that Braintree was worth every penny, even with the old fees. It packs so many features and services in that the value is almost incalculable, at least for merchants who are going to utilize these features. For merchant who aren’t — why not just look elsewhere?

That’s all beside the point now, since Braintree offers a fixed-rate pricing solution with absolutely no additional fees. This is ideal for low-volume merchants, since the service is entirely pay-as-you-go.

Positive Reviews and Testimonials:

Braintree’s client list speaks for itself, in some ways: GitHub, Uber, AirBnB, OpenTable, LevelUp, and StubHub, just to name a few. Each of them revolutionary in some way or other. And Braintree has helped each of them along the path to greatness.

But if you really want something remarkable…

Braintree has some of the most comprehensive and impressive case studies I’ve ever seen, along with kind words from very successful companies. I mean, its client list is chock-full of unique apps and Internet businesses, many of which provided complex challenges for payment processing. In the case studies, Braintree walks you through these challenges and the solutions. It’s really fascinating reading material if you’re interested in this sort of thing. Check them out.

Aside from these testimonials and the spectacular client roster, you can find a number of independent, unbiased reviews online. Be aware, though, a lot of these reviews are outdated or otherwise flat-out incorrect. Here are some misconceptions:

  1. Braintree is too expensive for most merchants. FALSE. At one point Braintree’s pricing model was cost-prohibitive, but those days are long gone.
  2. Braintree uses First Data or another processor. FALSE. Braintree is now a direct processor. When you sign up, you get a merchant account straight from Braintree — no middleman. For merchant outside the U.S., this may differ.
  3. Braintree uses a tiered pricing structure. FALSE. At one point it did, but these days Braintree has a fixed-rate pricing model. 2.9% + $0.30 per transaction.

Got it? Good.

Final Verdict:

Braintree is probably the only provider I’ve rated at 5 stars without a widely available interchange-plus option. That would usually be a deal-breaker for me at this level, but the company pulls it off. What the fixed-rate model lacks in interchange transparency, it regains in consistency and affordability. When you consider the absolutely enormous number of unique features and services you get at absolutely no additional charge and no monthly fee, Braintree may have the best value in the entire e-commerce/app-commerce processing industry. I’m beyond impressed.

The offer of $50k in free processing is truly remarkable, and definitely something you should consider. We’re always wary of offers like “free” equipment, but this is a no-strings-attached, genuine offer.

With everything Braintree has accomplished in the past two years, it’s poised to own the e-commerce and m-commerce worlds. With Paypal as its parent company, it also has access to some spectacular resources. And that’s only going to get better once PayPal finally spins off from eBay into its own company later in 2015. Keep an eyes open and your ear to the ground for new offerings.

App developers would be crazy not to thoroughly consider working with Braintree Payment Solutions, and market-style businesses would be, too. These people are not only delivering a developer-friendly medium; they’re bringing ethical, transparent, high-quality processing services to the table. When you put these two attributes together, you get a solid 5-star processor. Good work!

Tom DeSimone
Tom loves asking tough questions and getting straight answers, so he has a lot of fun calling payment processors for Merchant Maverick to cut through their smoke and mirrors and find the real deals. He has run a full-time editorial business from his home in New York’s Hudson Valley since 2010 and could not imagine a better job. When not busy writing and keeping credit processors honest, Tom enjoys backpacking in the mountains.
Tom DeSimone
Leave a comment

55 Comments

    Mike

    My biggest knock against Braintree is that they do not offer a mobile dashboard option to keep track of all purchases on the go.

    Rating22222
    D. Davis

    Help ! I recently found that my merchant services “Flint” will no longer have the ability to service my account. Flint has suggested that I move to Stripe. This does not make me happy and the only information I can get from Stripe is via email which takes forever. I have extremely low volume business. My volume ranges between $150-$400 per week. I take copay for services. I have checked with Payline and they are not really made for small volume business too many fees.
    Can you suggest a merchant for very low business. I only want to process credit card payments, no frills.
    Thank you,

    RatingNot Rated
    Tom DeSimone

    Hi,

    Checkout Intuit GoPayment. It sounds like they’d be a good fit.

    RatingNot Rated
    Pedro

    This company are theifs

    After being accept as a client and paid all the setlements to that date I start working normaly and charging credit cards regulary, one day I reveived a email from someone saying that my account was blocked as I was working only on the dashboard and not the way they intended. Starting thay date I never again get a deposit from them and now they have 10.000 euros in their account that are mine.
    Everyday I send them a email asking to make the deposit and every day the aswer is the same, that my problem is in the risk department and the email will be sent to them.
    Until today I only get silence from them, for 2 months no answer what so ever. I think I’ll have to hire a lawyer to get my money back. So if you are thinking in make business with this company, think again and save yourself a headache.
    Cheers

    RatingNot Rated
    Brandon

    from the braintree website:
    ” How much does Braintree Marketplace cost?
    It’s free for Braintree merchants. You’ll pay 2.9% + $.30 when the customer makes their purchase, but we don’t charge for distributing the funds to you and your sellers.”

    The merchants in the market place solution are the market place vendors, not the marketplace itself, so the marketplace gets charged the fee, then the money moves for free to the people supplying the marketplace. Not exactly “clear” as they state in the headline.

    Rating11111
    Brandon

    This is all assuming they even accept you into the marketplace product tier, which is a BIG if! They will probably push you into the normal merchant account where you have to transfer funds manually without the API slit integration and 1099 record keeping.

    Rating11111
    Stephanie

    Thanks for the reply Brandon and you’re right: it’s clear as MUD.

    I don’t even know what Braintree Market is, never heard of it. I was just looking into them because they are integrating with BigCommerce and my merchant provider is pissing me off so I was looking for a backup solution.

    RatingNot Rated
    Brandon

    I like others on these reviews have had a terrible time just trying to open an account with them. I am running a marketplace app, basically what Braintree was intially designed for. They called me high risk and said they wouldn’t split payments and I would have to do it manually (defeating the whole purpose of using them). Their advertisements are also misleading saying their are no fees until you hit a certain dollar amount. This is untrue; for the marketplace clients, you will pay all fees immediately, but they hide that truth in the faq section. Do yourself a favor and just use Stripe, if your company grows you can negotiate lower rates with them, with paypal/braintree you are stuck at the same rate no matter how big you grow. Braintree will interrogate you and request very personal information like copies of your passport and and drivers license via insecure email, where they could easily/accidentally forward this info to people that shouldn’t have it. The whole process takes way too long with Braintree, it’s madness! Take my advice, if they are this bad upfront, think about how bad they must be when you are already a customer. Just avoid the madness and use Stripe

    Rating11111
    Paul Clancy

    Having a terrible time with this company. They currently have my funds on hold and despite assurances that they have lifted the hold I am still not in receipt of my money.

    Rating11111
    Tihare Jacobs

    I really had a bad experience with them. I signed up my company, everything was running well and smoothly. And a week later they send me a email saying :we regret to inform you that we are unable to underwrite your business.

    So I called them and asked why and again they weren’t very friendly trying to find a solution with me. They didn’t give a lot of information for the denied process — only: you business is high risk for us.

    I got very mad, because I was ready to launch my company and I needed to push further to figure out the situation. And they took a week to notify me that I was not a good fit for them.

    On their website there’s no information however about this.

    RatingNot Rated
    Eliot

    Great site.

    We’ve got an internet based/US incorporated online travel agency. Have been using PayPal invoicing since inception, and now w/ the elimination of their volume discount (2.2% + 0.30 per transaction) we are looking into alternatives.

    Aside from the first $50K free (which is nice), I don’t see any other advantage to switching to Braintree. Am I missing something?

    Other better alternatives?

    RatingNot Rated
    Amad Ebrahimi

    Eliot,

    Braintree’s advantage is the ease of which the gateway can be integrated with web apps. For someone that doesn’t have a web app, there’s really no benefit to going with Braintree over say Payline Data. You can probably negotiate lower rates with Payline whereas Braintree has some pretty high rates after that free $50K that you get. Payline is my choice for you.

    RatingNot Rated
    Eliot

    Thank you.

    RatingNot Rated
    Bob

    Just awful, but what can you expect from a paypal company. Their barely literate call center morons will take weeks and weeks to setup your account. Even though they claim you can signup in minutes and start processing transactions right away, if you do they will simply steal all that money from you in the case that they decide to arbitrarily decline your account application. Nevermind if you have already provided goods or services to the clients who’s transactions you processed, you will just be cheated out of this money.

    This is a truly awful company .

    Rating11111
    Tony Kressin

    My experience with brain tree has been beyond poor, pretty much laughable. Way too much time wasted on set up and experienced many issues with their system during set up. I really wish I would have went with another processor.

    Rating11111
    DHN

    Outstanding…we are launching another website and selected Braintree because the site will have International versions and we beleived it was the best to stretch across all the site…having said that, my German counterpart had a long list of issues with Braintree which made me wonder…Do the International versions differ from the US version? Could the German Braintree be that different than the US’s??

    Thanks
    DHN

    Rating55555
    Tom DeSimone

    Hi DHN,

    There are likely some differences between the experiences of German and US Braintree users. We’re interested in experiences from all countries, but most of the feedback we have is from US and Canadian users, and that feedback has been predominately positive. Electronic transactions are handled in slightly different ways across the globe, which can definitely impact the overall merchant experience.

    RatingNot Rated
    Josh

    Well on my way to sign up with Braintree. I have been on the fence for a while. My developer was talking about signing with Stripe. So I figured I better get some facts researched quick. Braintree is a clear winner in my mind.

    Great Review!!!

    Rating55555
    Chuck

    Love your reviews! We are a fashion company building our site through Wix and looking to select a suitable online merchant. SquareUp and Stripe were on our short-list of potentials until we came across your wonderful page. Thank God! Braintree now seems to be leading the pack on our list for good reason. Can you please help us out with some info.

    How is the ease-of-use in terms of integrating Braintree to your website/shop? During checkout will the customer have to leave your site page? Lastly, would there be a monthly cost to have PayPal as an alternative payment option to Braintree (since they are the parent company)? Your advice will be invaluable. Keep up the amazing work! Cheers.

    RatingNot Rated
    Rebecca Whittington

    Hi,

    I also would like to know if paypal would apply their charges if I signed up to braintree for online payments which currently are shown as free up to the first £30k. But then on reflection I also thought, Paypal may still want to charge their fees alongside and once I go over free £30k frees transaction limit would I get a double whammy of fees charged per transaction. Sometimes free is to good to be true so could you clarify this?

    RatingNot Rated
    Cecilia Blades

    Hello Tom – I was researching the best company to process credit payments. My only product is a book and would need a card reader for selling the book at conferences, etc. This will probably mean that the sell volume would be low and sporadic. Does it make any sense for me to sign up with Braintree? If not, can you provide a recommendation. Thank you.!

    RatingNot Rated
    Mark

    Is Braintree good for high volume?

    We do 6k-10k in monthly volume, but are looking to ramp up to 15k-25k.

    RatingNot Rated
    Tom DeSimone

    Hi Mark,

    Braintree can work for high-volume, but it’s a better deal at low volumes.

    RatingNot Rated
    Joe

    Would braintree be a good deal for non-profit fundraising? Do they have special pricing for non-profits?

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Tom DeSimone

    Hi Joe,

    Braintree doesn’t offer non-profit rates. Check out Dharma or Helcim to qualify for lower rates based on non-profit status.

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Joe

    Thanks for the quick reply. I’m caught up between using a merchant account service or a fundraising service that would collect donor information to reach out to them in the future.

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Tom DeSimone

    Hi Joe,

    If Dharma or Helcim doesn’t work out, try PayJunction. I don’t know if they offer non-profit rates, but they have a good customer management program built in. Dharma offers services tailored to non-profits though, so I really think they are your best bet.

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Morgan

    Just to clarify, I just spoke to Braintree and they do offer non-profit rates. 2.2% + .30. You do have to ask for it as it is not marketed. The one catch is that you do not get the first $50,000 free. Hope this helps.
    -Morgan

    RatingNot Rated
    Tom Townsend

    Braintree is far and above my choice for ALL my clients.

    Easy to set-up – Sandbox for testing, LIVE Person to to talk with on integration and or security issues. Lowest Cost of ALL the other major players and the first 50K earned NO FEE.

    Rating55555

    This comment refers to an earlier version of this review and may be outdated.

    Simon Raymont

    Braintree stole my money. They said it was easy to set up a merchant account. They sure did set me up: so I took my first two big payments. Days later I check my account. Weeks later I checked my account. Today I checked my account. Still no money. Now they are effectively ignoring all queries I make to hunt down the missing money or give explanation as to why. I am now having to contact my clients (very embarrassing) to assist with chargebacks so they clients can keep their money rather than it end up in Braintree’s pockets. I have lost over five hundred pounds (seven fifty) dollars to Braintree. AVOID BRAINTREE LIKE THE PLAGUE.

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    SunCCi

    Hi,

    would you recommend strip or braintree for a company who starts accepting payments ?

    Thanks a lot for your advice.

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Tom DeSimone

    Hi,

    Braintree is a great option. Very inexpensive and simple setup, low level of commitment. This is assuming you are an internet-based business. Otherwise, maybe consider Helcim.

    Good luck,
    Tom

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Ben

    Is there a minimum transaction volume to use the service? I see that there are no fees (except charge backs) until you reach $50,000/year which leads me to believe they are trying to attract start-ups. (I will only have ~$500.00/month in subscription fees for my 3-6 month beta period.)

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Tom DeSimone

    Hi Ben,

    No minimum required for Braintree‘s current pricing model. It’s entirely pay-as-you-go, meaning that if you don’t processes any transactions you won’t be charged a dime. Even if you process over $50K annually, you won’t be charged any subscription fees. You might be refering to their current promotion, which allows you to process $50K with no fees whatsoever. This means that if you process $50K, you keep $50K. To quote Braintree’s site:

    We’re committed to helping our customers launch and grow their businesses. So when you sign up with Braintree we’ll cover the fees on your first $50,000 of sales volume. That means no transaction fees, no interchange costs, and no catch. After your business crosses the $50,000 threshold, our standard 2.9% + $.30 per transaction rate applies. But for your first $50,000, you won’t be charged a cent (though chargebacks will still incur a $15 fee).

    And there are no time limits on this offer. You will have to be located in the US to qualify for it though. So you could end up payig basicically nothing for a low-volume business over the first year.

    Let me know if I can help you further!
    -Tom

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Marcel Ruhf

    Just FYI: The same promotion is currently available in the UK (the first £30,000).
    So chances are that similar promotions are available in other countries where Braintree operates.

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Ramiro Aguirre

    Great review! I am interested in starting an ecommerce business, but I am really confused about gateway providers, merchant accounts, and shopping carts. What is considered a good deal for a small ecommerce business? Is there a monthly service fee for the three accounts needed to operate an ecommerce business? Do you think shopify is a better option for me? I greatly appreciate your advice.

    Regards,
    Ramiro Aguirre

    Rating55555

    This comment refers to an earlier version of this review and may be outdated.

    Tom DeSimone

    Hi Ramiro,

    Thanks for checking us out! The answers to your questions depend on your specific needs, desires and processing volumes. If you want to build a good looking online store with as little effort and investment as possible, and get your payments account integrated as easily as possible, and you don’t need a lot of customization power, then using a service like Shopify will make the most sense for you. You’ll have to pay their monthly fee, but you’re paying for the convenience of using their tools to set up and maintain your online store. This comes with your gateway and merchant account included if you choose to use Shopify Payments. If not, they’ll charge you a transaction fee AND you’ll have to pay for the merchant account elsewhere, so it almost always makes more sense to use Shopify Payments if you use Shopify.

    If you use a service like Braintree, then you don’t pay any fee for your merchant account or your gateway. You just pay the 2.9% + $0.30, and that covers everything. But you’ll have to get your shopping cart and webstore design elsewhere, like through a service such as LemonStand.

    I know this is confusing. Let us know if we can help you further!

    Good luck,
    Tom

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Tamar

    Just wanted your advice for my business credit card needs..FYI I’m located in Canada ….I have a unique contract that will need a credit card terminal or swiper for only one customer exclusively also located in Canada but parent company is in US. This contract will pay approx 100 000$ per year but the terminal will only be used for this one customer. Monthly this would vary but obviously average over the $ 5000$ mark.
    I initially thought that a phone app might be the easiest but I’m not sure after reading everything, I am so confused about what would be most cost effective, and holds on funds over the $5000 amount. Any info would help thanks!

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Tom DeSimone

    Hi Tamar,

    You have a few options, each with varying costs and ease of use. The best solution will depend on exactly how you will be taking the payment. For most Canadian merchants, I suggest that they first give Helcim a look. Most of the time this the best, most reliable option. If you will be taking the card in person, then a card reader or terminal will help you to get the best rates (swiped transactions are cheaper than manually entered ones). If you’ll be taking payment over the phone (ie, without the cardholder present), then you’ll just need a virtual terminal to process cards from your computer. I wouldn’t suggest using any mobile/aggregating providers if you’ll be processing large transactions.

    Since this will all come from a single client, the amount you pay for processing will have a lot to do with how that particular client chooses to pay. For instance, what type of card they use and what country their payment account exists in will have an effect on the amount you pay to process. But all of that aside, I believe that Helcim will be the best deal for you. They even have a reasonable terminal rental program that won’t rip you off. Just make sure to give them an accurate picture of how you will be processing, including a good estimate of the largest transaction you could need to process. This will help to prevent funding holds as much as possible. If you need to process a transaction larger than your approved high-ticket amount, you’ll have to call up the processor for approval or else your funds will almost definitely be held. Many merchants are not aware of this and it leads to a lot of headaches.

    Good luck, and feel free to follow up if you need more help!

    -Tom

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Daniel M.

    While ive been using braintree for 5 months now they switched me to a second merchant so i am getting double charged. I signed up thinking Braintree was the merchant and the gateway. But now they are the gateway and Bank card USA is the merchant? I am getting doubled charged now. i dont like it one bit. I still like braintree because they do a good job but seems like im getting screwed both ways.

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Tom DeSimone

    Hi Daniel,

    Braintree is a direct processor, so there is no reason Bankcard USA should be involved with your account in any way. It sounds to me like Bankcard USA set you up with a separate account. I would contact Braintree right away about this. Please come back and let me know how this plays out.

    Good luck,
    Tom

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Shane S

    I received quotes from 8 different processors and Braintree was the highest price of all of them. They also were unwilling to negotiate at all. Companies like Paymentech, Merchant e-Solutions, First Data and Blue Pay Go!, were all cheaper.

    Of the 8 companies I compared, they had the highest per transaction cost ($.30) and the highest monthly minimum ($75). They had the 2nd highest setup fee ($99) and the highest monthly fee ($35).

    I actually wanted to choose them over the others because they are so forward thinking about data portability. But, why would I pay more money to choose them? If your bottom line is important, you may want to shop around – you may be able to get a much better deal elsewhere.

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Leigh

    They do look very top notch, alas, as a Canadian business we can’t use them unless we create a legal U.S. presence. Hopefully they expand their reach …

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Lisa Komolova

    Here is a quick update on the earlier conversation, Braintree has recently expanded to Canada as well as Europe. Check out our payment APIs and apply for a Braintree merchant account. We can help you accept international credit card payments in more than 130 currencies, and settle in 13 major currencies, including GBP, AUD, and EUR. Disclaimer: I work at Braintree

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Amad E.

    Thanks Lisa. Braintree review updated coming soon. Take care!

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    t. falcon

    I love your site and all the useful information, but Braintree is clearly out. You see, I’m a sketch artist and writer looking for a good merchant rep to handle credit card transactions by cell phone. What solid company would you recommend for a little guppy like me. ;>

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Merchant Maverick Admin

    T.Falcon,

    I just sent you a private message. Let’s see if we can find you a good provider.

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Jason Grunstra

    Wow. This company seems very forward thinking. Impressive!

    I LOVE the fact that they also offer data portability. Everyone reading reviews of merchant accounts should take a VERY SERIOUS look at data portability. A LOT of gateways (like Authorize.net *ahem*) will inadvertently LOCK YOU IN since you can’t get YOUR customers data out of the gateway once it’s in there. So if for any reason you ever wanted to move your merchant account elsewhere, you have to hope that your customers will re-enter any reoccurring subscription billing info! I got burned on this once and learned my lesson. Not enough people talk about this downside of gateways and data management. Remember merchants, these are YOUR customers and therefore you should consider it YOUR data. Don’t let someone keep it hostage from you!

    Their PCI compliance solution seems pretty clever too.

    Rating55555

    This comment refers to an earlier version of this review and may be outdated.

    bob

    $75 minimum, $35 monthly fee, $99 set up? You must be kidding!

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Merchant Maverick Admin

    Thanks for the comment Bob. I wasn’t going to let this one through because, I can’t really say it adds anything to the conversation per my policy, but it does raise some good questions…

    Just by looking at those three incidental fees, do you feel that you’re able to accurately determine that Braintree is more expensive than any other providers? Wouldn’t you need to take other fees into consideration? Especially the discount rates? You’d probably actually have to have a full rate proposal from Braintree and the other provider in order to get a better idea of what the true cost of your merchant account would be…right?

    Additionally, do you think price is the only thing a merchant should look at when shopping for a merchant account? Is it that much of a commodity that price becomes the only thing that matters?

    I’m not trying to pick on you here Bob, but it’s difficult for me to add any validity to an argument that doesn’t present me with anything new or enlightening. I love being proven wrong, because that means I can get better at what I do, which in turn will better my reviews, but you gotta come with something better than “You must be kidding!” if you plan on being heard.

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    David

    Just an FYI for everyone. The reason for the B- rating could very well be because they don’t pay the BBB. Good info. Thanks for the review!

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    Bryan Johnson

    What a pleasant surprise. Thank you for the kind words.

    Bryan Johnson
    Braintree

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    The Merchant Maverick

    No sweat Bryan. You guys deserve it. :)

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

    D.

    “Braintree Payment Solutions doesn’t have any complaints or negative reviews because they’re choosey with whom they do business with. By being selective, they can focus on a smaller number of big merchants, thus providing great customer service and support to them all.”

    I can clearly see that Braintree is the best in the business. But my small business doesn’t even earn enough revenue at this point to sign up with them. The little guy is stuck with PayPal etc, I suppose…

    Rating55555

    This comment refers to an earlier version of this review and may be outdated.

    Merchant Maverick Admin

    I wouldn’t say that you’re stuck with Paypal. There are other third-party providers like Google Checkout or 2Checkout as well, but you are right, it’d be much better for you to start off working with one of them until you have enough sales volume to justify the expense that will come with a merchant account. See this article here.

    RatingNot Rated

    This comment refers to an earlier version of this review and may be outdated.

Leave a Reply

Your email address will not be published. Required fields are marked *

Rating

Your Review

Comment moderation is enabled. Your comment may take some time to appear.
Please read the "User Review and Comment Policy" before posting.

Share