Learning Magento 2 Administration by Bret Williams & Cyndi Williams

Author:Bret Williams & Cyndi Williams [Williams, Bret]
Language: eng
Format: azw3
Publisher: Packt Publishing
Published: 2016-05-31T04:00:00+00:00

Braintree

PayPal recently acquired Braintree, a payment services company that adds additional services to merchants. While many of their offerings appear to overlap PayPal's, Braintree brings additional features to the marketplace such as Bitcoin, Venmo, Android Pay, and Apple Pay payment methods apart from recurring billing, and fraud protection. Like PayPal Payments, Braintree charges 2.9% + $0.30/transaction.

Tip

A Word about Merchant Fees

While operating our own e-commerce businesses for many years, we have used many different merchant accounts and gateways. At first glance, 2.9%, offered by PayPal, Braintree, and Stripe, appear to be expensive percentages. If you've been solicited by merchant account providers, you no doubt have been quoted rates as low as 1.7%. What is not often disclosed is that this rate only applies to basic cards that do not contain miles or other premiums. Rates for most cards you accept can be quite high. American Express usually charges more than 3% on transactions. Once you factor in gateway costs, reporting, monthly account costs, and so on, you may find, as we did, that our total merchant costs using a traditional merchant account averaged over 3.3%! One cost you may not think to factor is the expense of setup and integration. PayPal and Braintree have worked hard to create easy integration with Magento (Stripe is not yet available for Magento 2 as of this writing).

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