With our Soapbox platform offering online payments for donations and events, we’ve had occasion to chat with nonprofits about various payment processors to choose from. PayPal and Authorize.net are two of the three that work with Soapbox. They are well-known and have a raft of opinions associated with them. Some good and some bad.
The third payment processor Soapbox interfaces with is Braintree, an option lesser known in the nonprofit space. And, while we’re not looking to endorse any single provider, Braintree is worthy of consideration for some very good reasons:
Cost is a big factor for any nonprofit buying decision and none more specifically than in the fees charged to process payments. Braintree’s pricing structure features no monthly fee with a 2.9% and 30¢ per transaction charge. This includes the option of recurring payments as well which is often offered for an additional monthly fee above the base monthly fee other providers charge.
Braintree is relatively new to the scene compared to other providers and wiling to shake things up a bit. Why is that significant in making a buying decision? Their pricing structure is a great example. They started off with a monthly fee like other providers and then dropped it in favor of the current model. They’ve proven themselves hungry and nimble and looking to earn new business. That’s good for consumers.
3) Respected and reliable
While they are newer than others, they are respected and reliable having earned their reputation primarily among tech-savvy web 2.0 clients like LivingSocial – companies that process enormous numbers of online payments everyday.
4) Transparent and simple
Payment processors can be confusing in terms of services and pricing. One of Braintree’s core values is to simplify things and be as transparent as possible. As a company working with many an accidental techie in the nonprofit space, those are values we can definitely get behind!
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