A Comprehensive Comparison of Braintree, Splash and Stripe: Features, Payouts, and Pricing
When considering online payment solutions, Braintree, Splash, and Stripe stand out as leaders in the industry. Each platform offers unique features, payout methods, and pricing models. This article aims to provide an in-depth comparison of these three payment systems, helping businesses understand which one best suits their needs.
Introduction to Braintree
Braintree, now part of PayPal, is renowned for its ease of use and wide acceptance. It offers a simple integration method through a drop-in form that supports both credit cards and PayPal. This integration facilitates seamless checkout processes for businesses, which is particularly beneficial for those wanting to expand into international markets via PayPal. Additionally, Braintree waives transaction fees on the first 50,000 credit card transactions, making it an attractive option for small businesses.
Comparison of Braintree and Stripe
Payment Processing and Payouts
The payment processing and payouts differ slightly between Braintree and Stripe. Cash does play a crucial role, as Stripe offers faster payouts: every 7 calendar days. Braintree, on the other hand, processes payouts bi-weekly, with an exception for American Express (American Express requires 2 business days). These differences can be critical for businesses in terms of cash flow management.
PCI Compliance and Security
Both Braintree and Stripe are dedicated to maintaining high levels of security and compliance. Braintree emphasizes client-side encryption, ensuring that sensitive data remains secure as the transaction is initiated by the customer. Stripe, in line with best practices, provides detailed documentation on their encryption and security measures.
Features and Usability
As of the latest update, the pricing models for both platforms are similar, but Braintree's advantages lie in the official support for more libraries and advanced features. A full side-by-side comparison can be found on Diffen’s comparison page. This wiki provides up-to-date information as the companies evolve and add new features, ensuring that users have the most current data at their fingertips.
Features and Benefits Unique to Stripe
Focus on Developers
Stripe places a significant emphasis on the developer community. Their mission is to promote online business growth by making it straightforward to charge for products and services over the Internet. New users can quickly set up an account and start processing credit card transactions within a few minutes, without needing a separate merchant account or gateway. These processes are handled automatically, relieving developers of integration hassles.
Ease of Use and API
Stripe's API is designed to be intuitive and powerful, with built-in support for numerous programming languages. The platform has garnered even more native integrations through third-party contributions, enhancing its usability for a wide range of developers. This focus on simplicity and ease of integration is a key differentiator for Stripe.
Simplicity of Pricing and Transparency
Pricing transparency is another area where Stripe excels. Stripes fees are straightforward, with a consistent 2.9% $0.30 on successful transactions. Unlike many competitors that vary fees based on card type, international transactions, and other factors, Stripe's pricing model is simple and predictable. This simplification allows businesses to easily calculate costs and access detailed transaction history and fee information through their management site.
Global Expansion
While operating primarily in the U.S. as of 2012, Stripe is actively working to expand into new international markets. This aggressive expansion strategy positions Stripe as a future leader in the global online payment landscape.
Conclusion
The market for online payment systems is crowded, with each platform having its unique strengths. For businesses looking for a simple and secure solution, Braintree and Stripe both offer compelling options. Stripe's focus on developers, transparency, and ease of integration might give it an edge, while Braintree's support for PayPal and lower fees on credit card transactions could make it a more appealing choice for some. Ultimately, the choice between these platforms depends on specific business needs and preferences.