This article talks about the differences in Stripe and Braintree Payment Solutions
There is a range of payments processing solutions via mobile applications available in the industry, however, a majority of merchants are considering Stripe and Braintree over other providers. Braintree provides backend payment processing for companies like Airbnb, Uber, Munchery, and Hotel Tonight, while Stripe has a similar offering for hot startups like Instacart, Kickstarter, Shopify, and Lyft.
If you’re thinking to build a mobile app that needs to accept payments, how do you know which is the best payment solution for your app? Let’s dig deeper to help you choose the most appropriate payment system for your application’s needs.
DIFFERENCE IN FEE
Both Stripe and Braintree charge on a flat rate pricing system – with 2.9% + 30¢ per transaction fee. There is no minimum or monthly fees for both.
For starters, Braintree has a fascinating offer. They will process your first $50,000 completely free of charge, potentially saving you about $2,000. The only thing you will have to pay is a chargeback, which is a standard $15 fee per incident.
However, when it comes to additional expenses, Stripe has a minimum of those. They charge nothing for a refund in all the countries they support. However, depending on the country, Braintree charges $0.30 in Australia, but they charge no costs in the USA.
Sum Up: It’s really hard to conclude which service is best for their pricing plans. It completely depends on the type of app you have and the amount of money it will handle.
- 9% + 30¢ per successful card charge
- No setup, monthly or hidden fees
- Real-time fee reporting
- Chargebacks are charged $15.00. But if the customer’s bank resolves dispute in merchants favor, then the complete fee is refunded.
- 9% + $.30 per transaction after your first $50, 000 in card processing
- No minimums or monthly fees
- No hidden costs for the benefits of recurring billing, basic fraud protection
- Chargebacks are charged $15 per occurrence
In comparison to Stripe, Braintree offers a much faster support to its customers. One can expect a response to any query within 6 hours on weekdays while Stripe takes about a day and a half to address the same query.
The primary support of Braintree is via email (email@example.com) with phone support available, while Stripe’s primary support is a web form without a phone support.
Additionally, Braintree is active on StackOverflow, a widespread Q&A forum for developers. However, Stripe questions don’t get an official response.
Sum Up: Braintree offers a better support system than Stripe.
EASE OF USE
Both Stripe and Braintree are easy for customers to use and make payments with. However, developers consider Stripe easier to use – mainly due to its full-stack payment platform that allows the developers to avert setting up a gateway – while helping them set up an account instantly without sending in tons of documents and forms.
Users can begin accepting payments in many currencies instantly. Later, Braintree also simplified their full-stack model similar to that of Stripe’s.
Stripe & Braintree both support many different currencies both for transferring to your associated bank accounts and for making charges. Both support EUR, USD, and GBP everywhere.
Additional charges might be applied when the accepted currency is converted to merchant’s home bank accounts currency.
Sum Up: Stripe & Braintree both support EUR, USD, and GBP currencies.
On Stripe, subscriptions are charged through invoices – they generate an invoice that reads the amount customer owes and then try to charge the customer that amount. When the subscription period expires, Stripe will generate another invoice automatically.
In Braintree, you will need to build a plan in the Control Panel and keep your customers in the vault. In the trial period, its subscriptions are Active. Active subscriptions are charged on following billing date. The status of subscription is changed to Past Due if a payment for a subscription fails.
Stripe & Braintree supports both Android and iOS, and custom form can be crafted. Stripe’s libraries carry the burden of PCI compliance by helping you avert the requisite to send card data straight to your server. Instead, the data is sent to their server, where the credit card data is converted into tokens and then the tokens are
Braintree tries to push for the Drop-in UI and not custom UI, and their Drop-in UI offers a complete, ready-made payment UI for a faster and affluent way to accept payments. Using their native mobile SDKs, you can be eligible for the SAQ A PCI compliance form irrespective of Drop-in or custom integration.
THIRD PARTY PAYMENT
Stripe supports integration with Apple Pay, Android Pay, Bitcoin, PayPal, & Venmo, while Braintree supports integration with Apple Pay, Android Pay, Bitcoin, Alipay, and American Express Checkout.
Both Braintree and Stripe aim to simplify payments with an easy-to-understand pricing scheme and easy-to-use API. It’s hard to say which one will suit you best. If you are considering pricing only, then choose between Stripe and Braintree as per the type of app you have. The app which requires large transactions with minimal chargebacks, like Uber – should opt for the Braintree. While an eCommerce app which has the probability of higher chargebacks like Instacart should go for Stripe.