Hackernoon logoStripe Vs. Braintree Vs. PayPal: Which Is The Best Payment Platform? by@hannah-gerstaecker

Stripe Vs. Braintree Vs. PayPal: Which Is The Best Payment Platform?

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@hannah-gerstaeckerHannah Gerstaecker

Full-stack Developer & Growth Hacker with a Goal of Helping Small Businesses and Startups.

Online payment platforms have changed the way we shop every day. With the help of such payment platforms, we can easily send and receive without going to the bank.
And the fact is people are becoming quite comfortable with such online payment platforms. But many of us still get confused about which is the best online payment platform.
Henceforth, in this article, we will compare the three most popular and appealing online platforms i.e Stripe vs Braintree vs PayPal. I’ll talk about the few about the three apps and will see which one is the best app out of all three.  
Before moving towards the comparison, let us first have a glimpse on all the three payment apps.

Brief on Online Payment Platforms

Stripe
A powerful payment app based in the US which makes a seamless online payment. It lets an individual user, as well as companies, make their payments seamlessly through Stripe. This app is suitable for both startups and large companies. Stripe is used by Shopify, Dribble, Amazon, Foursquare and many more.
Braintree
A payment gateway software which especially works for the eCommerce companies. It works perfectly for the web as well as mobile. Braintree was launched in 2007 and accepts almost every type of card for the online transaction. This software is used by Airbnb, Github, Twillo, Uber and many more.
PayPal
It is one of the most successful and popular payment gateways across the globe. It allows users to send and receive money online to any foreign countries. PayPal offers a peer-to-peer payment gateway service to its users. The online payment platform is used by almost every company you can think of.
So, now let’s move towards the comparison of all the three platforms.

Stripe vs Braintree vs PayPal - The Workflow

The workflow of all the three is almost similar. The custom chooses the type of payment method to make the transaction and enter the necessary details. The payment software will then encrypt the data and will pass it to the servers for the further process. Later, if the credit gets successfully approved then the transaction is successfully done.
The time for the money to reflect in your bank account depends on the payment gateway you have used. Out of all the three mentioned here, PayPal is the fastest one to make the transactions. The money for foreign transactions will reflect in a period of only 2 days with PayPal.

Stripe vs Braintree vs PayPal - Pricing

The pricing of all three payment gateways is quite similar. Let us see the pricing of each one by one.
For Stripe, they charge 2.3% of the fees each time you make the transaction. There are no other hidden costs except this. And when it is an international transaction, there will be 1% extra fees added to the regular one. Another thing here is, Stripe does not charge any type of fees for the refund process.
For Braintree, the fee they charge is 2.9 % for every transaction done from the card or digital wallet. There will be no hidden cost but it will charge a 1% fee for the multicurrency as well as international transactions. This fee is applicable to any other currency except USD. For the refund, 0.30% charges will be taken.
For PayPal, the same as Braintree, 2.9% of the transaction fee is applicable. The unique thing about PayPal is that it has a discount rate of 2.2% for the transaction made on charity things. The international tractions fees of PayPal is higher than both of the above. It will take around 4.4% of the fees and additional fees based on the currency.

Stripe vs Braintree vs PayPal - Payment Methods & Countries

The common payment methods that all of the three online payment gateways possess are Visa, Mastercard, American Express, JCB, Maestro, Discover, and Diners Club credit cards.
But except this, the users of PayPal can even make a payment through the PayPal accounts. PayPal does not accept any transaction for the Bitcoins but the same is possible with Braintree and Stripe.
PayPal services in more than 200 countries worldwide. Similarly, the Stripe services are available in 26 countries and Braintree is available in 45+ countries.

Stripe vs Braintree vs PayPal - Online Marketplace

We all know that the marketplace requires special attention to manage the payment thing. The main reason for it is the owner and the seller must get their parts without any confusions and issues. Stripe as well as Braintree both have introduced the split payment method on their platforms. So that the payment can be made without any confusion. Similarly, a solution for this provided by PayPal too.
All the three have their own easy to go splitting methods. But, here you need to make a choice which one will suit best to your marketplace.

Who Won the Battle?

Well, what I can say is there is no straightforward answer to who won the race in Stripe vs Braintree vs PayPal. And the fact is there even cannot be a single answer for the same. As all the three online payment platforms have their own speciality
So, what I would suggest here is that your choice should be completely based on your needs. Look at your personal as well as the business needs and choose the platform which suits best to you.

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