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Blog Summary:
In this blog, we are going to talk about the two widely used payment gateways, Braintree and Stripe. We have covered a comparison between Braintree Vs Stripe, contrasting their features, costs, and modes of payment. This blog helps you select the best solution for your business needs by offering a side-by-side comparison table and an analysis of the Stripe vs Braintree marketplace.
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E-commerce is growing at an exponential rate, with over 26 million online stores catering to global consumers. Because eCommerce is becoming increasingly popular for retail purchases, credit card processing is becoming increasingly vital in transactions.
By choosing the best payment provider, businesses can improve customer experiences and reduce transaction costs. Two of the most well-known payment processors in the eCommerce sector are Braintree and Stripe. These companies provide slick, safe payment choices for online transactions and can be complemented by Crypto Payment Gateway Development for businesses looking to accept cryptocurrency.
Braintree or Stripe, both payment providers, provide world-class customization choices, safe payments, on-site gateways, third-party connections, and additional practical tools.
However, several characteristics set these two payment providers apart, including price variations. This article compares Stripe vs Braintree to help you choose the best payment gateway service provider for your company.
Payment Gateways are mechanisms that allow direct or authorized online payments. Usually, they act as intermediaries between businesses and customers.
In the past, many merchants had to operate their payment gateway to take customer payments. However, increasingly, merchants are turning to third-party payment gateway integration providers such as Stripe or Braintree as their main entry points.
Stripe was launched in 2010 and is essentially a one-stop financial solution for eCommerce businesses and other companies that need payment gateways.
Many eCommerce enterprises prefer this third-party processor since it is efficient, affordable, and specializes in market and subscription payments. Businesses can easily create their eCommerce environments using Stripe’s API.
While Stripe claims to offer over 100 features, the following are some of the most essential features of Stripe:
PayPal subsidiary Braintree offers online payment solutions to all companies, including those with global sales.
Unlike its parent firm, it was founded in 2013 and is regarded as a perfect platform for entrepreneurs. Additionally, it takes payments other than credit, debit, and PayPal transactions.
Four distinct areas comprise Braintree’s primary features as a payment processor. These are the following:
Compare the features listed below between the Braintree and Stripe to determine which platform is ideal for your company.
| Stripe | Braintree | |
|---|---|---|
| Transaction Pricing for Cards and Online Wallets | 2.9% plus 30 cents per transaction | 2.59% plus 49 cents per transaction |
| PayPal Integration | No | Yes |
| ACH Payments | 0.8%, $5 cap | 0.75%, $5 cap |
| Invoicing | Monthly 25 free invoices, plus 0.4% for each invoice that is paid | Third-party integration |
| Global Footprint | Accepts more than 135 currencies and offers service in 47 countries. | Accepts over 130 currencies and offers service in 45 countries. |
| Other Billing Services | Recurring billing, subscriptions, discount codes, coupons | Recurring billing, subscriptions, discount codes, add-ons |
Compare Braintree and Stripe to find the perfect fit for your business needs.
After considering the differences between Stripe vs Braintree, let’s compare their salient characteristics:
Payment gateways might charge you three primary types of fees: chargeback, international, and card fees. The card fees are the same for both payment gateways. Braintree and Stripe take 2.9% of the entire amount plus 30% for each transaction.
Braintree and Stripe charge the standard $15 fee for chargebacks. However, if the disagreement is resolved in your favor, Stripe is the only company that will reimburse you for a chargeback.
Using currencies from other countries worldwide has costs. Even though both companies support 100 different currencies, their transaction costs vary. Stripe processes international transactions for free, whereas Braintree charges 1%.
Different providers might accept other payment methods, and some might not be available where you live. Alternatively, if payment methods are crucial to your target audience, you could look at their everyday demands.
Because of this, we frequently research the available payment processors before looking into the market to determine which payment method is most favored by potential buyers of the goods.
Stripe and Braintree support the majority of widely used credit card types, such as Visa, MasterCard, JBC, Diner’s Club, and AMEX.
The Stripe app marketplace facilitates third-party integration with apps in accounting, compliance, data and analytics, and other areas. Additionally, the company provides integration options inside its partnership ecosystem to assist businesses in using Stripe better.
Braintree payments gateway service provides enterprise plug-ins, integrations with third-party partners, and other additional services. Popular e-commerce sites, shopping carts, analytics services, invoicing apps, and other application types can all be connected to the platform.
Market share is one of the most crucial distinctions between these two payment processors. The figures are significantly different, according to SimilarTech, a service that monitors the web technologies used on well-known websites.
Approximately 44,000 popular websites and e-commerce businesses worldwide use Braintree. In contrast, Stripe is utilized by more than 11,00,000 websites worldwide, meaning that its market share is little less than 20%.
Additionally, the way their popularity is trending also differs. Stripe places a high priority on expansion and invests a lot in marketing. They are steadily gaining more users and are growing upward.
Braintree’s growth has slowed, and its appeal has gradually diminished. Furthermore, PayPal, Braintree’s parent business, is valued almost twice as highly as Stripe and has an even more outstanding market share. Therefore, there is no chance that Braintree will vanish shortly.
For urgent inquiries, Stripe provides phone support and live chat around the clock. If you have a more thorough list of issues, you may also use their email service to ask them questions. Though you will usually hear back within one business day, it is unclear when they will provide your replies.
Stripe provides a route where developers can help you with technical problems if you need technical support. Therefore, if you choose to integrate Stripe for your payment operations, there is no problem; you might receive seamless support and real-time assistance.
Braintree phone support is available from 8 a.m. to 7 p.m. US Central Time, Monday through Thursday, and from 8 AM to 5 PM on Friday. Emergency support is also offered in case you encounter any pressing technical issues.
There is also email assistance, and you can contact a support representative Monday through Thursday from 5 AM to 12 AM US Central Time and on Friday from 5 AM to 8 AM US Central Time.
Nowadays, there is a vast selection of payment providers available to merchants. Some of the best alternatives that can be used in place of Stripe and Braintree are listed below:
Square is another payment service provider (PSP) with a smooth registration process, online and in-person transactions, and other services. It gained notoriety for creating smartphone-compatible, square-shaped card readers, transforming how many mobile businesses conducted business.
Additionally, Square offers top-notch POS software solutions customized to the needs of individual industries, which simplify the management of a wide range of companies, including eateries and retail establishments.
Businesses may also be able to obtain merchant accounts from other payment processors. The main distinction between merchant accounts and Stripe is that the former provides better pricing, more payment reliability, and more control over the payment infrastructure. Merchant accounts are frequently the most excellent option for companies looking to grow.
Having been in business for nearly 20 years, PayPal is currently the most widely utilized payment processor globally.
PayPal provides top-notch customer care and some of the lowest transaction costs. It is a fantastic option for anyone looking for a dependable and safe means to make payments, whether for personal or professional purposes.
Amazon Pay is a payment processor designed to make online transactions safer and more accessible. Because it is integrated with the Amazon platform, users can conveniently make purchases and payments using their Amazon accounts.
Its minimal transaction fees and first-rate customer service complement its simplified payment method and streamlined service.
Moreover, customers can settle using their Amazon account in additional locations thanks to the ability to utilize Amazon Pay on other websites. Many customers are increasingly choosing Amazon Pay over alternatives because of its convenience and safe payment methods.
What you hope to get from your payment processing service will determine this. Stripe is the best option for companies that wish to handle a lot of foreign payments, have access to a wide range of business tools, and launch their payment services quickly.
Braintree is the best choice if you’re looking for a basic payment processor without any extra features.
What happens if your company is based in Latin America or Africa? You could compare Braintree or Stripe with your local online payment systems.
If you operate an internet business in Africa, you may be familiar with PayStack. Entrepreneurs and startups refer to it as the Paypal of Africa. To be honest, Stripe supports Paystack directly. Indeed, it is one of Paystack’s investors. Paystack may be used to transfer and receive money both internationally and throughout Africa.
Several well-known payment gateways in Latin America and Africa are as follows:
Compare Braintree and Stripe to see which platform aligns with your business goals.
Let us help you make a similar development choice!
If everything looks the same when comparing Stripe and Braintree, then these two payment gateways are almost exactly the same. It’s all in the details, like Stripe being a third-party processor while Braintree requires standard merchant accounts.
Additionally, Stripe offers more valuable connectors than Braintree, which can be particularly beneficial for startups looking to replace outdated technology. However, Braintree has the advantage when it comes to currency conversion because it is accessible in nine additional nations. Both brands offer comparable multi-currency support and acceptance.
Ultimately, the most crucial decision is understanding your company’s specific needs to choose the payment service provider that fits best. If you’re seeking expert assistance in integrating payment gateways into your app or website, Moon Technolabs can help streamline this process and ensure you select the best solution for your business.
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Jayanti Katariya is the CEO of Moon Technolabs, a fast-growing IT solutions provider, with 18+ years of experience in the industry. Passionate about developing creative apps from a young age, he pursued an engineering degree to further this interest. Under his leadership, Moon Technolabs has helped numerous brands establish their online presence and he has also launched an invoicing software that assists businesses to streamline their financial operations.
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