Wasn't Braintree owned by Wells Fargo, the worst bank ever? Yet Braintree itself was still awesome during that time. Let's hope that awesomeness continues under Paypal.
PayPal Acquires Braintree for $800M
161–170 of 187 posts
Re: PayPal Acquires Braintree for $800M
#162Wasn't Braintree owned by Wells Fargo, the worst bank ever? Yet Braintree itself was still awesome during that time. Let's hope that awesomeness continues under Paypal.
No, Braintree is using Wells Fargo in US as a Merchant Service Provider. This has nothing to do with the ownership.
Re: PayPal Acquires Braintree for $800M
#163Wasn't Braintree owned by Wells Fargo, the worst bank ever? Yet Braintree itself was still awesome during that time. Let's hope that awesomeness continues under Paypal.
No on the footer of Braintree's site it states:
> Braintree is a registered ISO/MSP of Wells Fargo Bank, N.A
This means Braintree is using WF as a banking service provider, but is not owned by them.
Re: PayPal Acquires Braintree for $800M
#164Wasn't Braintree owned by Wells Fargo, the worst bank ever? Yet Braintree itself was still awesome during that time. Let's hope that awesomeness continues under Paypal.
No on the footer of Braintree's site it states: > Braintree is a registered ISO/MSP of Wells Fargo Bank, N.A This means Braintree is using WF as a banking service provider, but is not owned by them.
Cool thanks for clarifying
Re: PayPal Acquires Braintree for $800M
#165Earlier quoted context omitted.
> It's also not that easy to just go rip out one processor > for another on a huge legacy code base. Unfortunately true. It's always a good idea to support more than 1 processor, ideally all used actively. I've see many companies get burned by only having one. It takes ages to get another processor up and running.
Using more than one payment processor is definitely a smart move. Not only to avoid unpredictable consequences such as this acquisition, but also because it will give you a negotiating advantage as payment processing becomes more and more of a commodity.
From an engineering perspective at my last job, having multiple also allowed us to abstract away the processors themselves into ways that made adding a new one pretty painless. If one went down, we just failover seamlessly.
Re: PayPal Acquires Braintree for $800M
#166Congrats to Stripe for all the new users!
Why would merchants looking to switch from Braintree expect Stripe's fate to be any different (i.e. acquisition)?
Re: PayPal Acquires Braintree for $800M
#167Earlier quoted context omitted.
That's why I only code against Spreedly [1] instead of directly against any payment processor. One API instead of 53, switch processors just by changing a variable, and you can securely store customers' payment info without locking yourself into any processor's vaulting solution either. 1: https://spreedly.com/
do they support payouts?
Spreedly supports Balanced [1] and Balanced specializes in payouts [2]
[1] https://core.spreedly.com/manual/payment-gateways/balanced
[2] http://blog.balancedpayments.com/announcing-balanced-payouts...
Re: PayPal Acquires Braintree for $800M
#168It's a pity all these "better-than-Paypal" companies only serve US/Canada/sometimes Europe. Paypal owns the whole rest of the world! Maybe they can now help internationalize Braintree instead of imposing their badness onto it. Also sad that you can't sell hair extensions with Braintree :?(
Click the "Select your country" button at the bottom of Braintree's site. It looks like they're available in US, CAN, AUS, and 40+ countries in Europe, but yes, PayPal owns the rest of the world, could help Braintree expand faster.
Re: PayPal Acquires Braintree for $800M
#169Earlier quoted context omitted.
Show me a company working as a purely Internet bank of sorts and I'll show you a company with pissed off customers. Truth is, this business is very hard. For every time Paypal misidentifies a target and blocks their payments, they correctly identify scammers many more times. We tend to think "is it that hard to tell a scammer from blah legit site ?". The answer is yes because guess what scammers are thinking everyday…
Ally Bank seems to be doing pretty darn well...
Ally Bank is doing quite well because it managed to ditch the millions of pissed off customers it had when it was General Motors credit department. Give them time and I'm sure you will manage to piss everyone off again, despite their shiny rebranding.
Re: PayPal Acquires Braintree for $800M
#170I'm amused that photo-sharing companies are more valuable than CC payment processing companies that actually generate revenue.
COGS for your standard photosharing app are much lower than for a payment processor and they don't have to deal with crazy amounts of risk (CC chargebacks). But yes, I get your point.