A review of Braintree Payment Solutions and CenPOS universal processing platform follows. While there are several features in common, this review highlights more of the differences.
Braintree is a division of Paypal, a publicly traded company, offering both merchant accounts, and payment gateway. CenPOS is a privately held corporation, offering a universal merchant centric payment platform, including payment gateway. Both offer host based SaaS solutions.
One key difference is that while both offer a gateway, only one is a switch. A gateway accepts data and passes it through. A switch dynamically makes intelligent decisions based on a number of through-puts, including merchant defined rules and a host database which is continually updated in real time. The CenPOS switch empowers merchants with more controls over payment processes and the hosted platform provides scalable, flexible technology to change with legislative, merchant, and payment industry changes.
With its promise of portability, Braintree provides more flexibility than has been available from even the biggest credit card processing providers, especially for ‘online only’ businesses with a subscription recurring payment requirement. Since the average small business changes suppliers every 12-18 months, Braintree’s promise of vaulted card portability to ‘take your data with you’ is attractive to many businesses. With 99% customer retention year over year since inception, the average CenPOS merchant clearly agrees their payment platform is different; rather than selling portability for when merchants leave, CenPOS delivers substantial merchant value eliminating the desire to leave; additionally, merchants can change processors at will, without disrupting operations.
Transferring card data presents significant risk to the merchant. To protect from liability, suppliers who hold encrypted card data will generally not release data without a written promise to absolve from any and all liability in the event of any future data breach. Whether in transit, or at a later date, the historical transfer of card data can be problematic in the event of a data breach. Spreediy is an alternative for merchants desiring to vault credit cards for multiple gateways; Braintree and CenPOS are both integrated with Spreedly.
CenPOS Exclusive Advantages:
- Electronic Bill Presentment & Payment
- Interchange optimization
- Level III processing for retail (and
- Risk management, including by user
- Reporting capabilities, including real time analytics and custom reports
- Multi-lane signature capture terminals
- Check processing: RDC, ACH, guarantee
- Omnichannel & multi-location account management
- Reduced PCI Compliance burden for omnichannel merchants
Braintree Exclusive Advantages
- One touch mobile checkout with Venmo or Paypal
- Braintree Marketplace
- Coinbase (supports Bitcoin)
In summary, merchants should evaluate all the reasons to choose a service provider for what they have now vs. what they need to leave the service provider later. A free trial or extended out will help users make the right choice.