Braintree Payment -The best you can get!
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An online store has the same transaction process as traditional store,where the seller offers a product to customer and customer pays for it only difference is payment for the services done through the Internet. Braintree Payment Gateway let your customers pay for your goods and services through your website.
Nowadays electronic payment system has grown increasingly due to the growing spread of internet banking and shopping. As the world is adopting new technologies, we can see the rise of electronic payment systems and ecommerce companies are providing more secure online payment transactions.
Magento 2 Vendor Braintree Payment Method overview-
The Vendor Braintree Payment Method, developed by CedCommerce for Magento 2 provides an ability to the vendor to accept the credit card online payments through the Braintree Payment gateway. During the checkout process, the users can use the credit cards such as Visa, MasterCard, American Express, Discover, JCB and Diners Club International credit cards, and so on.
Braintree online payments solution integrates the following two requisites that the admin needs to start for selling the products online:
- Internet merchant account
- A payment gateway, which allows the admin to accept the online payments from the customers.
To use this extension, admin needs the Braintree merchant login credentials, which can obtained by filling an online application form available on Braintree’s website. Once the application is approved, the admin receives the test account credentials to integrate Braintree Online Payments with the Magento 2 store.
When the store is ready to go live, the admin can move it from sandbox (test mode) to production (live mode).
Features Of Vendor Braintree Payment Gateway–
Accept online card payments
Supports major popular cards like Visa, MasterCard,American Express,Discover,JCB and Diner’s club etc. Admin can also choose the applicable countries for which the payment method will be available.
Supports Sandbox environment to test the payment integration to your store. And once you’re ready to go live just replace the sandbox API details with production API details.
Supports multiple payment modes
Supports two payment actions: Authorize & Capture. Authorize mode will process vendor payment once the invoice is created and Capture mode will automatically create an invoice and start the disbursement process.
Hold payment in escrow
Allows you to hold funds through Braintree’s banking partner until you decide to disburse them wherein you will receive the designated service fee and your sub-merchant will receive their portion of the payment.
Save customer details
If vault option is set to yes then the customer’s information (encrypted format) will be saved in Braintree and customers don’t need to re-enter their information each time they make a purchase.Otherwise customer’s information will not be saved with Braintree.
Flexible service fee
Set fixed percent based or both type of service fee for each online vendor transaction through Magento 2 Vendor Braintree Payment Method. This service fee is the portion of your sub-merchant’s transaction revenue that is routed to your account.
How Magento 2 Vendor Braintree Payment Method works?
At admin end-
After the successful installation of the Magento 2 Vendor Braintree Payment Method extension on the Magento 2 store, the admin has to set up the configuration settings required to enable the features of the extension.
- In the Enabled list, select Yes.
- In the Title box, enter the title of the payment method.
- In the ENVIRONMENT list, select Sandbox.
- Select payment action from drop down as per the requirement.
- In the Merchant Account Id box, enter the Account Id.
- In the Merchant Public Key box, enter the provided key.
- In the Merchant Private Key box, enter the provided key.
- Select hold in escrow as per the requirement.
- In the Credit Card Types list, select the required options.
- Select option for vault as per the requirement.
- In Payment from Applicable Countries list, select one of the following options:
- All Allowed Countries: All the available countries are allowed.
- Specific Countries: On selecting this option, the next field Payment from Specific Countries is activated, from where admin can select the each required country from the list.
- Select charge service fee as per the requirement.
- Select service fee type
- In the Service fee amount,enter the amount.
- Click the Save Config button.
At vendor end-
- Enter bank account number
- Bank routing numbers must pass a checksum, much like credit card numbers.
At front end-
Enter the required information, and then click the Place Order button.The order is placed and is listed on the My Orders section.
Benefits Of Braintree Payment Gateway–
- Supports payment from various credit cards ex-Visa, MasterCard,American Express,Discover,JCB and Diner’s club etc.
- Supports test environment.
- Supports multiple transaction types-
- Authorize only: This method only validates and authorizes credit card details on checkout and reserves that amount from customer’s account which can be captured later on, usually after the shipment or delivery of the product.
- Authorize & Capture: The standard credit operation where the order amount is captured from the customer’s account and its invoice is generated instantly on checkout.
- Small & medium sized companies can go online.
- Single platform for processing major credit cards & other payment options
- 100 % server uptime with multiple acquiring banks on same platform.
- Seamless integration process with most online applications.
- State of Art Risk Management system & Fraud detection tools.
- User friendly backend with detailed reports.
- Fully PCI Compliant, no card details submitted to the client’s server.
- The admin can enable escrow amount option.
- The admin can set to release escrow amount automatically with the help of crons.
Magento 2 Vendor Braintree Payment Method pricing-
You can refer the following link in order to know more about the description, and pricing etc.
Vendor Braintree Payment
CedCommerce’s Vendor Braintree Payment Method allows the Magento 2 marketplace owners to easily handle online transactions between the customers and the vendors by integrating Braintree Marketplace payment service. It allows you to split online transactions and pay your vendors(sub-merchants) through Braintree’s gateway.
You can also follow the User Guide- Braintree Payment Method – Admin Guide