Integrating Braintree into your Magento store
We recently attended a webinar over the many perks of Braintree Payments and it’s development since it’s integration with PayPal Braintree is a payment platform that allows quick and efficient acceptance on your app or website. Braintree accepts one touch payments to SDKs and foreign currency. Any business can use Braintree with a few exceptions such as door-to-door sales, travel agencies or travel clubs, etc.. Braintree takes about 2 days to deposit transactions for Visa, Mastercard, and Discover and 4 or less days for American Express. The best part about Braintree – it can be completely integrated with your Magento site!
Braintree now integrates with PayPal seamlessly. Since PayPal has integrated with Braintree, Braintree has been able to offer a complete transaction in fewer clicks and less abandoned carts. There was also a 70% lift in conversion for customers who switched over to the PayPal integration than those who did not have it prior. There are no fee for integrating PayPal, but you do need to have a PayPal business account in order to gain the benefits. Any costs that occur will be the ones that have previously discussed with PayPal.
Braintree has also come up with the concept of v.zero and marketplace. V.zero has a cool new tool called Drop-in UI that provides an ultimate checkout experience in less than 10 lines of code. The basic Drop-in UI includes a card entry form and a PayPal login button for convenience, but there’s also a custom Drop-in UI that allows you to build your own checkout page and accept PayPal. Both options work for iOS, Android, and the mobile web. Marketplace also allows a merchant to split payments from customers between your marketplace and your sellers. It’s completely free to set up and there is no fee for distributing the funds to your sellers. The only thing you have to pay is the 2.9%+ $.30 when a customer makes a purchase.
Braintree also focuses heavily on Fraud protection. They have two levels of fraud protection – Basic and Advanced. Basic allows the set up of AVS, CVV, and Risk Threshold rules. As a merchant, you can configure each of these protection tools to fit the needs of your eCommerce business. For example, if you are used to only getting 10 orders per 10 minutes, you can adjust the Risk Threshold rules to notify you if it exceeds that limit. Advanced fraud protection comes with Braintree-data.js, a series of fraud prevention tools, and works with Kount, a fraud protection service. All of the transaction data will be passed to Kount where then it is ran through rigorous tests to make sure it is accurate. Kount is PCI compliant and reduces the PCI scope for merchants. Braintree also offers a vault option where raw credit card information is stored and also allows quick one touch checkout for repeat customers.
Braintree wants to see startups succeed, so if you sign up with Braintree, they will cover the fees on your first $50,000 of sales volume which includes marketplace, fraud protection, and account updater. There is also a free Magento extension that can be integrated into your Magento store. Give us a call at 214-810-5005 or email us at firstname.lastname@example.org if you want us to install it for you or discuss how Braintree might help benefit you and your site!