Vlad Dm en Financial Analyst, Developers, Business Marketing specialist • Cleveroad 5/3/2018 · 3 min de lectura · +100

PayPal Vs Stripe Vs Braintree: Online Payment Gateway Comparison

If you decided to add a payment platform into your web or mobile app, we would like to advise you on possible alternatives of methods of payment online as well as about the advantages and disadvantages of some ready-made solutions. Let's draw our attention to Stripe, Braintree and PayPal payment platforms since they are leaders in the present-day market.

What are payment gateways?

A payment system is a software used for payment processing on the Internet or through mobile apps. It acts as an interface between a website or a seller's mobile app. A licensed bank-member of Visa/MasterCard as a subsidiary bank can process transactions with credit cards for an online business. As a rule, a payment system is used for different payment methods, but we suggest using credit card payments as an example.

A payment system encrypts confidential credit card data to guarantee that the confidential information is transferred reliably between the user, seller and acquiring bank.
Payment systems play an important role in the performance of transactions performing as well as in payment authorization between the seller and purchaser. And they can serve both as online payment methods for small business and large business.

This system performs a few tasks for transaction completion:
A browser protects data transferred from the user to the provider's server. Then the system delivers data about the transaction of the payment process used by the acquiring bank.

Request for authorization
The system transfers data about the requested transaction to the issuing bank. After this, an authorization request is confirmed or rejected.

Fill in order
Once the payment system receives a reply to the request, it transfers the request to the website or mobile app to process different methods of payment.

Actually, this process lasts only for a few seconds. It is not as long as its description. Apart from payment processing, payment gateway providers perform other functions as well. They perform protection against fraud by verifying the recipient's address, verification of the address of a credit card holder, geolocation identification, and verification by scanning fingerprints etc.

Those who are familiar with e-commerce can note that the main goal is not only to identify what payment platform is better but also determine other factors you should consider to understand what platform will better fit your demands. Let's check parti