Stripe and Braintree are the bellwethers of the rapidly changing Payment processing industry. In this article, we are going to thoroughly compare Stripe vs Braintree so that you can decide on which one is suitable for their needs.
For a long time, the traditional payment processing space has been dominated by banks. And still, they are effective. But, when it comes to faster cash transfers, these newly founded online payment platforms work wonders for individuals as well as internet businesses. Payment processors like Braintree and Stripe allow them to provide transparent, affordable, and flexible payment processes to their customers and clients.
It has been forecasted that by 2023, about 1.31 billion people, all around the globe will prefer to pay through Mobile wallets. So from a business perspective, it becomes imperative to integrate payment gateways into websites to facilitate smooth payment processes.
Today, there are multiple players out there in the market that provide payment processing services to businesses and individuals. Paypal, Braintree, Stripe, Amazon Pay, Square, and Skrill, are some of the most popular payment gateways and each brings something new to the table. Therefore, it is important to choose the right one for your business requirements.
Stripe and Braintree are widely accepted payment processors among eCommerce businesses, SaaS companies, crowdfunding platforms, and on-demand platforms. Hence, it is imperative to know the difference between Stripe and Braintree.
If a business is looking for a Braintree alternative, then there are high chances that it will go for Stripe. Contrariwise, if a business is finding an alternative to stripe, Braintree will be next in the list. The competition is tough between these two.
If you are starting any of the above mentioned online business, choose the ideal online payment system between Braintree and Stripe.
Role of Online Payment Platforms In Your Business?
Before you go deeper into the understanding of which one is the best between Stripe and Braintree for your business, you should know how payment gateways work. If you already know that then, here are some concrete reasons you should integrate payment processors on your website.
- Lightning-Fast Transaction Process: By integrating online payment systems into your website, you make sure that you get your payments within minutes.
- Secure Transaction: Since these service providers practice strict encryption protocols to save yours and your customers’ data from any fraud, you get a secure way to complete the transactions.
- Increased Customer Base: People from all around the world can subscribe to your service (especially if you have a SaaS platform). So, yes it helps you grow your users.
- Comes with Extra Tools: Most payment platforms are bundled with shopping carts and other business operation tools that allow you to manage your business swiftly.
- Convenient: As online services are 24/7 in a working mode, your customers or clients can purchase your products or services and pay for it any time.
Let’s come to our main point and decide which payment processing service you should go for Stripe or Braintree
Stripe vs Braintree: Head to Head comparison
Remember, unlike PayPal, Braintree and Stripe only focus on business needs. They don’t have provisions for any services to consumers.
Compare the difference between the following aspects of both the payment processing services and decide the ideal platform for you.
Products & Services
Both the platforms have dozens of other products & services in addition to its online payment service.
Stripe
Stripe Payment: As the payment process integration is the main requirement of any merchant, Stripe provides you with fully integrated payment solutions. Whether you are building a Marketplace, eCommerce Store, B2B platform, or any other online business, Stripe’s online payment has it covered. The wide range of payment methods allows your customers with different options, so you can reach a global audience.
Billing Solution: If you are planning to start a SaaS platform for B2B or B2C model, then Stripe has a complete solution to create and set up the solution. The product provides you with a dashboard that allows you to monitor and create billing and invoice processes for your recurring billing. Not only that but you will also have daily data of your customers and their ways of transactions (Cards, Mobile wallet, etc).
Stripe Connect: Stripe provides a complete payment solution for marketplaces like ridesharing, food ordering, grocery delivery, etc. As the numbers of stakeholders are more, managing payment processing can be a bit challenging. Stripe helps you manage the transactions through its effective routing mechanism irrespective of your business model. i.e one to one, one to many, many to many, etc.
Stripe Atlas: Stripe provides a platform for new startups to form a legal structure for their company. If you don’t want to get involved in legal matters and cumbersome paper works, Stripe can help you launch your start-up easily through its service called Atlas.
Stripe Radar: It is Stripe’s one of the most important products. Stripe radar detects and stops the fraud from happening through its Machine learning capability. Radar has additional layers of authentication which easily separates customers with the fraudsters.
Stripe also has its newly launched products which are Stripe issuing and Stripe terminal.
Braintree
Whereas Stripe has a wide array of products and services for businesses’ any type of need, Braintree does not lag behind. Here are Braintree’s products and services.
Braintree Direct: This product of Braintree is pretty much the same as the stripes Payment product. Online businesses can integrate Braintree Direct into their app or website and implement secured transactions without any hassle.
Braintree Marketplace: The solution is identical to Stripe’s Connect. Think of it as a Stripe Connect vs Braintree marketplace. The company renders 360-degree payment solutions for marketplace businesses.
Braintree Extend: If you want to attract more customers by offering loyalty programs or Cashbacks, then Braintree Extend lets your business to connect with the partners who are providing incentive on their services. Which I feel is a great tool that you won’t find in the Stripe.
Braintree Auth: Braintree does not only have its solution for merchants but it also has a solution for Merchant service providers who oversee and support your payment transaction, store your customers’ important data safely and manage other technological aspects. Braintree Auth takes authorized action on behalf of merchants so they have one less thing to worry about.
Payment Methods
As an internet business owner, you will want to cover as much as payment methods to acquire customers from all over the world. Both the online payment platforms include major payment methods in their services.
Stripe
Stripe provides its merchant with a single payment API that allows them to accept payment through a variety of payment methods. Moreover, it covers various local level payment methods as well. Check out this table and know whether your business provides service in these counties or not. Because different counties have different payment methods. And it will be beneficial for you to include that payment method into your business so your business can grow globally.
| Payment Method | Geography |
| ACH Credit Transfers | US |
| ACH Debits | US |
| AliPay | China |
| Apple Pay | Supported Countries |
| Bancontact | Belgium |
| Cards | All Around the World |
| EPS | Austria |
| FPX | Malasia |
| GiroPay | Germany |
| Google Pay | Supported Countries |
| iDEAL | The Netherlands |
| Klarna | Austria, Denmark, Finland, Germany, Norway, Sweden, The Netherlands, UK, US |
| Multibanco | Portugal |
| Przelewy24 | Poland |
| SEPA Direct Debit | France, Germany, Spain, Belgium, Netherlands, Luxembourg, Italy, Portugal, Austria, Ireland |
| SOFORT | Austria, Belgium, Germany, Italy, Netherlands, Spain |
Braintree
As far as the payment methods are concerned, Braintree has also all the payment methods covered as Stripe. It includes payments through cards (Credit cards & debit cards), Digital wallets, and local payment methods.
In fact, Braintree has added advantage over Stripe as it supports payments through PayPal. I forget to mention that Paypal owns Braintree! However, the latter works as a standalone platform. Most freelancers use Paypal as their preferred payment system for easy transactions. In addition, the payment processor giant supports Venmo which is a popular peer to peer wallet app in the US. Here are the payment methods Braintree covers.
-
- Ach Direct debit
- Apple Pay
- Google Pay
- Samsung pay
- Cards
- Paypal
- Paypal Credit
- UnionPay
- Venmo
- SRC (Secure Remote Commerce)
- BanContact
- EPS
- giropay
- iDEAL
- SOFORT
- MyBank
- Prezelewy24
Read Also: How to Build an App like Venmo & Zelle As a Startup Idea?
Currency & Country Options
Stripe
If your business is expanded all around the world, then don’t worry, Stripe covers almost major currencies. Stripe supports 135+ currencies and 39 countries, so you can charge your customer in their local currency. For your global users, stripe converts your currency into the currency in which they are charged. So they won’t have to manually convert the price.
For example, when I open my Netflix subscription plans, I am presented charges with the INR (Indian Currency) because I live in India.
Note: The currency that customers are charged with is called presentment currency, and the currency deposited in your bank account is called settlement currency.
Braintree
On the other hand, Braintree is also supporting more than 130+ currencies and 44 countries to support your global level online business. Braintree provides easy set up for the businesses to properly receive the transactions.
If you are operating locally then you should adjust a setting to a single currency setup which is by default set up. For global level businesses, the company has multi-currency setup options so your website and mobile app will show customers their native currency.
Pricing Structure
One of the main things that are common between these two payment processing services is that they don’t charge any monthly or yearly fees. You get charged on a pay as you go model.
Stripe
Before you know how much does stripe charge, know for what stripe does not take a single penny.
Stripe does not charge for:
- Set up Fees
- Minimum Processing Fees
- Statement Fees
- Payment Gateways Fees
- PCI- Compliance Fees
- Refund Fees
- Cancellation Fees
- Hidden Fees
For every successful transaction,
- Stripe charges you 2.9% + $0.30 if your customer has paid through cards or eWallets. Remember, stripe charges 1% more for the transaction occurred through international cards and 2% more if the currency conversion is needed.
- If there is any dispute happens during the transaction, Stripe imposes a $15 chargeback on you.
- Alipay, Giropay, Bancontact, EPS, Przelewy24, iDEAL, SOFORT, WeChat Pay, SEPA direct debit: 2.9% + $0.30 per transaction
- Klarna: 5.99% + $0.30 for Pay later and Pay later in 4; 2.99% + $0.30 for Slice it
- Multibanco: 3.4% + $0.30 per transaction
- ACH credit: $1 per payment, after reconciling an ACH credit payment; Stripe also charges a $7 ACH fee upon successful payment
- ACH direct debit: 0.8% per transaction with a maximum ACH fee of $5
- Wire transfer: $8 per wire payment, Stripe also charges the same $7 successful payment fee for automatic reconciliation
- Custom pricing model available
Braintree
Braintree also does not charge for the fees associated with setup, maintenance, service, or early cancellation fees. Also, there’s no monthly or yearly charges, just pay for what you use.
- 2.9% + $0.30 per transaction (Same as Stripe)
- ACH direct deposits: 0.75% fee
- PayPal and PayPal Credit payments: No fees
- Non-U.S Currency: Additional 1% of the charge
- Chargeback: 15%
- You can also go for custom pricing model if you process more than $80,000 per month
- If you already have a merchant account and you only choose to use Braintree payment gateway, then it will cost you $49 for payment gateway; $.10 per transaction and another $10 for any additional merchant account you link.
Security Measures
In any fintech startup, security and fraud prevention is at utmost priority. On a daily basis, millions of transactions happen and if enough security measures are not taken by these online processor companies, there are high possibilities of data breaches.
To prevent this, both companies take concrete security measures and comply with international standards.
Stripe
Stripe encourages every online business to have an https connection and get a TLS (SSL) certificate for its website. Apart from that the company follows some strict practices and uses the latest security tools for data security. Also, Stripe security is thoroughly checked by PCI certified authors and given approval as a secure payment gateway company.
Apart from the regular certificates, stripe has its own tool called Stripe Radar to prevent the fraud, which we have mentioned earlier in the blog. So, Stripe is completely safe for businesses to integrate.
Braintree
Braintree on the other hand, also boasts of following strict guidelines and industry standards. This PayPal owned online payment platform giant is Level 1 PCI Compliant so there is no need to worry about any security breach to any of the data.
Also, you can safely use your control panel as the communication between you and Braintree as it is secure by TSL.
Developer Friendliness
Integrating Payment gateway is not that something you can do if you don’t have technical expertise. You will have to hire a developer or an integration service provider company who will help you out with set up.
Stripe
Stripe provides in-depth documentation for developers so that they can integrate Stripe gateway without any hassle.
Also, Stripe facilitates developers by providing all the necessary API references, Client & Server Libraries, and chat support from stripe developers.
Developers can use its UI libraries for web and mobile (iOS & Android) for frontend development. Stripe also has provisions for HTML +js and React libraries. If your website is built on CMSs like WordPress, Magento, Drupal, Opencart, etc., Stripe provides useful plugins for making the tool better.
Braintree
Braintree also is considered to be an easy option for developers as Braintree provides clear documentation, libraries, and client-side software development kits for web and mobile platforms. Braintree also provides a plugin for your CMS based website.
The integration duration varies depending on your business requirement. An expert developer can set up everything within 2 hours.
So, both the platforms have easy to integrate APIs and other tools.
Customer & Technical Support
For any online business, customer support and service are as important as the product or service itself. While running an online business you may encounter many queries related transactions. There may be faulty transactions or any breach in the data or chargebacks. Also, you may face any technical problems. Customer support should be always a call away.
Stripe
Stripe provides 24/7 phone and live chat support for your urgent queries. If you have more detailed lists of queries, you can also ask them on their email service. However, it is not clear when they will get back with your answers but typically you will be responded within one business day.
If you need technical assistance, then Stripe has provision for the #stripe channel in which developers assist you on technical matters.
So, there is no issue, you could get smooth support and real-time assistance if you decide to integrate Stripe for your payment processes.
Braintree
Braintree has its phone support available between 8 AM to 7 PM US Central Time Monday-Thursday and 8 AM to 5 PM Friday. However, there is also emergency support available if you have any urgent problems regarding a technical issue.
Email support is also available and their support rep will get back to you from 5 AM to 12 AM US Central Time Monday-Thursday and 5 AM to 8 AM Friday.
Top Companies Using Them
Stripe
Stripe boasts of having millions of companies using Stripe as an online platform, including electronic commerce, B2B, SaaS, B2C, and Fundraising. Which includes many leading tech companies.
Top 10 Companies Using Stripe:
Braintree
Braintree also has an impressive list of clients across many industries. Many unicorns and leading tech companies prefer Braintree as their payment receiving platform.
Top 10 Companies Using Braintree
If you will see the list, you will find that Stripe has more brands that are popular than Braintree. However, it does not mean that Braintree is not as effective as Stripe. There are many SMBs to big companies that prefer Braintree over Stripe by figuring out their requirements. Because not all companies’ business needs are the same.
What if Stripe and Braintree Are Not in Your Country?
What if your business is in Africa Continent or Latin america? You might compare your local online payment platforms with Stripe or Braintree.
Let me tell you Braintree and Stripe have the unmatched popularity and they are way ahead than any other payment processors. But you could always find alternatives to these two giants in your countries.
If you have an online business in Africa, you might be aware of the PayStack. Among startups and Businesses it is considered as the Stripe of Africa. To tell the truth, Paystack itself is backed by Stripe. Yes, it is one of the investors of Paystack. You can integrate Paystack and send and receive payment across Africa and globally.
Some of the popular Payment processors in Africa and Latin America are;
- Paystack (Nigeria)
- Flutterwave (Supports Mpesa & Mobile Money)
- Jenga
- VoguePay (Nigeria)
- Ikajo (Latin America)
- PayU (Latin America, South Africa, & Russia)
Conclusion: Braintree Vs Stripe
So, these were the important aspects of Stripe and Braintree from the merchants’ perspective. There are other aspects as well but those are more technical and useful for developers you hire for integration. We have covered all the vital aspects you must consider while choosing your online payment platform.
The major differences between Braintree and stripe are in their products and services. Stripe has more products and provides a wide array of solutions than Braintree. On the other hand, Braintree has fewer products but if you look at price-wise, Braintree is better. Still, I would say it depends on your business requirements. Both the platforms cover major ways of payment methods but Braintree has a clear advantage over there because Paypal is a brand in itself and it supports payment through Paypal.
So what do you think about Stripe vs Braintree comparison?
I am sure this will help you if you are starting a new online business or digitizing your existing business. Because you will need to add a payment gateway to have faster and secure transactions.
P.S You can ask any technical queries to your payment gateways integration company. They will also guide you on choosing the best. You can also ask us because we have built and integrated multiple payment gateways systems in our past projects.
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