At this point, Braintree and Stripe are much better alternatives. Unfortunately, they don't support Point of Sale transactions and don't have a virtual terminal.

Is Braintree a payment gateway or processor?

General. What is Braintree? Braintree is a full-stack payments platform that makes it easy to accept payments in your app or website. Our service replaces the traditional model of sourcing a payment gateway and merchant account from different providers.

What is the difference between PayPal and Braintree?

One of the bigger differences between the two services is that, where Braintree offers individual accounts, PayPal is a third-party processor. That means that, instead of providing you with a merchant account, PayPal aggregates all of its customers into a single merchant account.