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Braintree Takes On Stripe, PayPal With Debut Of “Marketplace”
- latchkey 13y agoWePay has had this for years, the title is a bit sensational.
- pdog 13y agoSo does Balanced Payments for Marketplaces[1]. Facilitating transactions is a huge pain point for businesses, so it's a big deal to see another company moving in to solve it. [1]: https://www.balancedpayments.com/ https://www.balancedpayments.com/
- forman00 13y agoLooking at Braintree's Marketplace docs, it appears you have to "onboard" each sub-merchant you want to send payouts to, which requires entering their name, address, date of birth, and their social security number. It then says "If [the social security number] is not provided, we will attempt to retrieve the full Social Security number based on the other applicant details." So my question is: How is it possible / how do they retrieve someone's social security number using apparently just a name, address, and birth date? (Maybe I'm naive, but I thought socials were pretty secure)
- peterjancelis 13y agoSo now there are 5 players in this space (that I know of). Ordered by the launch date of their marketplace offering: WePay, Balanced Payments, Stripe, Paymill, Braintree. Edit: Added WePay.
- ebspelman 13y agoElliott from WePay here - don't mean to turn these comments into a corporate stick-measuring contest, but our API has been able to support this use case since August of 2011.
- peterjancelis 13y agoSorry Elliot I did not know that. I added WePay to the list.
- lsh123 13y agoJust to keep it historically accurate, PayPal's Adaptive Payments API supported marketplace use case since mid 2010. Disclaimer: I used to work on it in my past life.
- jareau 13y agoTo keep this historical accuracy trend going: Balanced has been doing marketplace payment for the likes of Zaarly since early 2011. But congrats to Braintree on the launch! (Disclosure: I'm a co-founder of Balanced)
- peterjancelis 13y agoSorry, I googled your launch date, saw some TC posts from 2012 and didn't know you guys were doing beta before that. Can't edit it anymore...
- ajsharp 13y agoMeh. Welcome to the party, a couple of years late. I'll stick with Balanced. Fantastic product, incredible support. Not even a question. Braintree's bread and butter is card processing. Balanced's is marketplaces / payouts.
- lcusack 13y ago+ 1