The new integration method is available for our marketplace merchants, but PayPal as a payment method is not available for marketplaces in this initial launch.
Kristi from Braintree here. You can securely store the card info to the Braintree vault so the user only has to enter the credit card info in your app one time. You won't be able to save credit cards to the device to use across apps.
Kristi, what are you actually saving to the vault when I use PayPal? I know you present the merchant with a token, but how is it accomplished? Has PayPal had a charge-whenever token capability before that was not widely understood, or are you actually saving the customer's paypal email and password so you can charge arbitrary transactions in the future?
Paypal does have a future payments token capability [1]. The user must explicitly authorize the merchant the ability to use the token in order to use it for future transactions. We save the email for reference, but we never save the password.
Can Paypal (not Braintree) also authorize future Credit Card purchases from the same user without having to enter the CC number again? As in, could PayPal pass me a customer ID when someone purchases with CC via PayPal?
Kristi from Braintree here. We work with one of the major credit bureaus to cross-reference the data provided to match it with a social security number.
Braintree here. Gave the same response below in the thread,but wanted to make sure to address here as well. You all are right. Getting a merchant account and setting up a foreign currency account has been notoriously difficult to get in the past with extremely high fees and approval requirements. This is no longer the case. Braintree sponsors merchants to get setup with a merchant account in Australia and has built an accelerated process to creating foreign currency accounts.
If a provider states that no merchant account is required, you are most likely being placed on an aggregated merchant account. This has many disadvantages for the merchant as you are grouped under one umbrella account. As the provider grows, this becomes unsustainable and often leads to poor customer experiences (a la Paypal account freezes).
We're working to create a sustainable solution where customer service and great software are the central focus. We'll be constantly improving the on-boarding timeline and look forward to helping the fast growing tech scene in Australia. Always happy to answer any questions about anything payments or e-commerce related, just let us know!
Braintree here. You all are right. Getting a merchant account and setting up a foreign currency account has been notoriously difficult to get in the past with extremely high fees and approval requirements. This is no longer the case. Braintree sponsors merchants to get setup with a merchant account in Australia and has built an accelerated process to creating foreign currency accounts.
If a provider states that no merchant account is required, you are most likely being placed on an aggregated merchant account. This has many disadvantages for the merchant as you are grouped under one umbrella account. As the provider grows, this becomes unsustainable and often leads to poor customer experiences (a la Paypal account freezes).
We're working to create a sustainable solution where customer service and great software are the central focus. We'll be constantly improving the on-boarding timeline and look forward to helping the fast growing tech scene in Australia.
Pin Payments here. This is obviously some great information from our friends at Braintree on traditional banking relationships. At Pin Payments, we actually introduced some new ways of doing things which are different than a traditional aggregated merchant account (like Stripe) or a traditional sponsored merchant account (like Braintree). Pin Payments is currently unique (as far as we know). We onboard merchants instantly for local and foreign currency and we do not handle the money (Perpetual, our custodian, does). We do not operate an aggregated merchant account, each dev/customer is actually represented individually with each banking partner. We actually abstract the bank from the relationship, so we can provide a redundant banking model. We also have SLA's with our banking partners to ensure as-close-to-immediate on-boarding as we can right now (aiming for realtime of course). It's taken us around 18 months to get this model up-and-running in Australia. We think this is pretty awesome for Aussie devs and we also think it will scale well beyond Australia (where the financial regulations are obviously amongst the strictest in the world). Just sayin'
Kristi from Braintree here. To be totally honest, although we've been beta testing for a few months, we're still new to the market, and there are still some unknowns.
We could've launched with a standard high rate to cover for those, but we decided that offering custom tailored pricing would be more favorable to individual businesses. All of that being said, we're fast learners and should have standard pricing for Australian merchants within a few months.
The idea behind this offer is to help launch more startups. If you are a pre-revenue start-up or just started to collect fees for your product, then shoot us an email at [email protected], and we're happy to help.
Kristi from Braintree here. Admittedly, our legacy bank relationships left us as the middle man to their risk departments. This may be what you are referring to when you mention the "ludicrously strict risk team." This is no longer the case. Starting with the launch of our instant product, we brought risk in house. We are able to use our years of experience working with startups to develop risk processes that help us build relationships, not get in your way.
