If that’s the case, they’re losing money on your account because that pricing is below the wholesale bank costs (which is the same for everyone). You probably want to check the fine print or your monthly statement.
Our (Braintree) pricing is actually very competitive. It may look higher because we disclose all our fees. Nearly every provider we know obscures fees both during the sales process and in the monthly reporting statements so merchants never really understand what they're paying. Here's an example of pricing trickery http://www.braintreepaymentsolutions.com/blog/Costco-your-ma...
This is Bryan from Braintree. I was working for a different company at the time I visited my former customers. I honored the one year non-compete I had with my former employer.
Out of curiosity, did you catch any flak from former colleagues? I can imagine many people would still be quite angry, even if you fulfilled your legal obligation.
We're on the opposite side of the spectrum as a company in that we're not well known, we're not well connected, we don't have outside capital, and we're not creating the next generation of search. We do, however, have similar goals of finding and retaining the best people, building an enduring and rewarding culture, and continuously exploring better ways to do things. We actually blogged today about what we've learned as a startup in trying to find the best people who are also the right cultural fit.
The DataPortability Project has been at the forefront of addressing challenging data portability issues that affect all of us. We (Braintree) are really excited to see our Credit Card Data Portability initiative be adopted by them. This is their first initiative for B2B data portability. We were unsure what to expect from our efforts but are really excited to see that it's starting to get traction.
Not directly related, but we (Braintree) recently blogged about credit card expiration dates. Here is a snippet: "If you run a transaction in our gateway and enter a date in the past for the credit card expiration date, you may be surprised to discover that we don't validate it. We run the transaction knowing that the card is expired. Why do we do this? The short answer is that financial institutions will still approve transactions with expired expiration dates."
We (Braintree) have no contracts and no termination fees. Merchants can leave whenever they want and for whatever reason without penalty. Some of our sponsoring banks unfortunately have cancellation fee language (that we don't control and are trying to get removed) but we provide an addendum to every customer that states they will never be responsible for any cancellation fees.
I see on your application page that you have that addendum. I'm sorry for the incorrect statement, the rep I worked with last year didn't do a good job of communicating requirements (also was very inflexible with monthly fees).
I will be sure to keep Braintree in mind for my next venture
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