Braintree Payment Marketplace Add-On is the most reliable and secure payment gateway for accepting online payments from the customers.
OverviewBack to top
Note- This module is an add-on of Webkul's Marketplace Module. To use this module, you must have purchased and installed Multi Vendor Marketplace first.
Braintree is a payment method. Braintree payment gateway is the most reliable and secure payment gateway for accepting online payments from the customers.
Braintree Payment Marketplace Add-On allows the seller to add Braintree Payment for their products. This module is designed to simplify the payment process for online Magento store. Using this module customer can do the transaction with the reliable and secure payment gateway. This enables the customers to make online payments without redirecting to the payment gateway site and can pay using their credit cards details while staying on the store page. Braintree payment marketplace module allows the admin to enable and configure Braintree payment method for the seller's products.
Braintree payment marketplace module provides easy refund process to their customers. This module has escrow method which makes refund transactions more simple. Also, the admin can put payments made by customers on hold in escrow for certain period of time. The admin can cancel a payment transaction using the Void option available in the admin panel. Once the transaction is Cancelled the payment is refunded to customer's account. By enabling the vault, the admin can store the customer's information.
Note - Braintree does not have setup fees or monthly charges. The user can create their free sandbox account here. No fee is required for setting up the free sandbox account. The user can create production account here. The rates and fees charged by Braintree Payment Solutions are incredibly simple, More details about pricing click here.
2.9% + $0.30 transaction fee for everything except Bitcoin
1% for Bitcoin (after the first $1 million processed)
There are no surcharges, no fees. That means:
No monthly minimum
No monthly fee
No annual fee
No PCI Compliance fee
No early termination fee
No set-up fee
No gateway fees (monthly or setup)
No statement fees
You’ll be responsible for chargebacks, though, which come with a reasonable $15 fee.
Security and PCI Compliance :
At Braintree, data security is of enormous importance and take security vulnerabilities very seriously. They take vital steps to safeguard the customers’ information. Braintree environment meets the highest industry standards and guidelines like level 1 PCI compliant, industry recognition, no prohibited data storage, data encryption via the Braintree Vault, authentication & session management, and activity monitoring and testing. Cardholder data is managed in the Braintree Vault, using multiple encryption keys with split knowledge and dual control. Also, Braintree requires users to authenticate every time they log into the Control Panel. Passwords are never stored directly in the database. Braintree is a validated Level 1 PCI DSS compliant service provider. PCI Compliance is an industry-mandated security standard that applies to all businesses that handle, process or store credit cards.
For additional information, you may visit the security page on Braintree site.
Use Case of Braintree Payment Marketplace Add-On -
Most of the Marketplace follows Revenue or Pricing Model in which the amount from the customer goes directly to the admin ( store owner). The admin keeps the commission and then transfer the seller's amount. But it is a time-consuming process. And if the number of sellers is very high then it is very difficult to manage the payment of all the sellers.
But with the help of Braintree Payment Marketplace Add-On, the amount will be split between the admin and the seller. This module simplifies the payment process for online Magento store.
Features of Braintree Payment Marketplace Add-On -
- Allow all types of cards supported by the Braintree.
- Latest Braintree Drop-in UI used for checkout page.
- Fully PCI Compliant, no card details submitted to the client’s server.
- The admin can enable vault to store card details.
- The customer can re-use card details if saved in the vault.
- The admin can enable escrow seller fund to release in future.
- The admin can set to release escrow amount automatically (using cron, will execute daily at 1 am).
- The admin can define when to release escrow amount in the number of days.
- The admin can also manually release escrowed amount for a particular transaction in the order.
- The admin can refund the invoiced amount.
- The admin can partially refund invoiced amount.
- Enable/disable payment method from admin panel.
- The seller can refund Braintree transactions online.
- The seller can also partially refund the order.
- The payment automatically splits to sellers at the time of checkout
- The seller can become sub-merchant by providing required details, and able to receive funds if payment is done by Marketplace Braintree Payment Method.
- Braintree hooks are used to check the sub-merchant status and update seller accordingly, and to inform the seller about transaction disbursement, cancel or any dispute.
Workflow of Braintree Payment Marketplace Add-On -
After the successful installation of the Braintree Payment Marketplace Add-On, the admin of the marketplace can configure the plugin. The configuration will be done under “Stores > Configuration > Sales > Payment Methods > Marketplace Braintree Payment Gateway”
For the Merchant ID, Public Key, Private Key, and Tokenization Key, the admin needs to sign-up for Braintree Payments. Once the admin has registered and is approved as a merchant by Braintree the admin can fetch all the keys from their account. Admin can find the same under “Account > My User > API Keys, Tokenization Keys, Encryption Keys > View Authorizations ".
If any customer wants to become a sub-merchant seller then he/she has to enter their Business Information and Funding Information under “Braintree Vendor Details”. If the seller wants to register as a business then he needs to check “Register as a business” checkbox to provide the business details. After that, the form will be updated as below image and the seller can provide business details as well.
If Braintree Payment Marketplace Add-On is enabled from admin panel then the buyer can see this payment method inside his “Payment Information” and can complete the checkout.
Benefits of Braintree Payment Marketplace Add-On -
Admin Benefits: This payment module splits the payment from the customer among the seller(s) and the admin at the time of making the payment. So, the admin does not have to transfer the seller's amount for each order which saves a lot of time and energy.
Seller Benefits: The admin and the seller both can refund the invoiced amount. And both have the option to partially refund the amount as well. The seller gets the payment at the time of making the payment.
Customer Benefits: Using this module customer can do the transaction with a reliable and secure payment gateway. And it also provides an easy refund process to their customers. None of your sensitive card details are stored by this payment module.
Demo - You can check the live demo here.
Release NotesBack to top
- Compatible with CE: 2.1
- Stability: Stable Build
-------------------------------- Version 2.0.0 --------------------------------------
+ Accept credit cards that Braintree supports
+ latest Braintree drop-in UI used for checkout page
+ Fully PCI Compliant, no card details submitted to the client-server
+ admin can enable vault to store card details to the vault, so that customer can re-use the details
+ admin can enable escrow seller fund to release in future
+ admin can set to release escrow amount automatically(using cron, will execute daily at 1 am)
+ admin can define when to release escrow amount in days
+ admin can also manually release escrowed amount for a particular transaction in the order
+ admin can refund the invoiced amount.
+ admin can refund invoiced amount partially
+ Enable/disable payment method from admin panel
+ Enable vault to store information of the buyer
+ seller can refund Braintree transactions online
+ seller can partially refund the order
+ payment automatically slits to sellers at the time of checkout
+ seller can become sub-merchant by providing some details, to be able to receive funds if payment is done by marketplace Braintree payment method
+ Braintree hooks are used to check the sub-merchant status and update seller accordingly
+ other hooks are also used to inform seller about transaction disbursement, cancel or any dispute