8 Stripe Options for Top Stripes: In-Depth 2023 Guide

Many of the alternatives to Stripe fall under one of two groups: (1) payment processors, or (2) the billing service which covers processing payments and additional aspects of billing including fraud detection, checkout, and much more.

when selling physical products and products and services (online as well as in-person), various Stripe options designed for physical product payments (like Amazon pay, Square etc.).) offer the ability to process payments, fulfill orders, financing options, as well as other options. (It's worth noting that a majority options can be used by SaaS firms, but they're not a complete payment solution.)

In this review We will review eight of the most effective Stripe alternatives within each of these categories. Because our experience is focused on the provision of MoR service to SaaS businesses, we'll begin by providing a thorough review of our service .

 Table of Contents

•      MoRs to SaaS Companies
• : International Payment Solution for SaaS
• Paddle Payment Infrastructure Platform
• Verifone: Formerly 2checkout
•      Billing Software to Sell Physical Goods and Services
• Square is a The most popular payment system to help startups
• PayPal to Business Available on Major eCommerce Platforms
• Authorize.net: For Merchants and Small Businesses
• Adyen: Robust FinTech Platform
• Amazon: Payment Service and Order Fulfillment

All-in-one Payment Solutions for SaaS Companies (MoRs)

Most companies using Stripe (or some other similar system to Stripe) know that Stripe offers more than simply processing payments but that there are challenges to making the system perform for you. The system can need a myriad of extra fees and add-ons as well as some options are not as extensive.

In this case, Stripe advertises subscription management capabilities, however, lots of organizations end up connecting with another service like Chargebee or Recurly to get the subscription management tools they need.

More often than not, SaaS companies end up with a payment tech stack that includes more than a dozen different tools that can be used for:

• Calculating international taxes.
• Additional subscription management options.
• Fraud protection.
• Handling chargebacks.
• Checkout.
• Getting higher authorization rates in different nations.
• Plus.

The coordination of all the elements puts a massive strain on the development team.

Additionally, you'll need maintain a large team of tax and legal experts in order to ensure compliance across the globe (because services such as Stripe don't help with any laws). Although it's true that in the past, SaaS and ecommerce companies did not always need to pay VAT or sales tax, that's no longer an issue. If you don't gather and remit the right amount of taxes in every region you sell to, you could face massive fines, or be banned from selling in that region later on.

The choice of a bill solution which acts as your MoR will solve all these problems.

MoR MoR takes care of the entire SaaS payment process , from collecting and remitting local and international taxes (such as VAT or sales tax locally) and ensuring compliance with local laws and regulations, payments processing, chargebacks, and more.

: International Payment Solution for SaaS

We have been serving as an MoR to global software companies for nearly twenty years. Therefore, we have the experience to grow globally in a matter of hours. Here are some examples of how we helped other SaaS businesses expand internationally and increase revenue:

Make use of multiple payment processors to Increase Revenue

A majority of SaaS companies and founding teams believe that they only need one payment processor to accept payments. In reality, many SaaS companies eventually end up needing more to:

• Accept additional payment methods: Customers are more likely to make a purchase when they are able to use their preferred payment method. There are a few exceptions to this rule. Not every payment processor supports the exact same set of payment options. Utilizing multiple processors allows you to use more payment methods andthus, boost the amount of revenue you earn.
• increase the rate of authorization in international transactions Credit card networks are more likely accept transactions if the processor is a legal entity located in the same place. Certain payment processors establish an legal entity with multiple sites, however, the majority of companies still need to work with multiple payment processors to handle all payments locally.
• Accept payments from several countries:Some payment processors only accept payments from a select group of countries or regions. Utilizing multiple payment processors allows you to reach your customers in more locations.

Utilizing multiple processors for payments will also help solve connectivity issues or system failures. If one of the payment processors has a problem with its network it is possible to redirect the transaction to a payment processor that's operational.

With , you'll get accepted by a variety of payment processors that are experts in international payments as well as will accept the most commonly used payment methods around the world -- including PayPal and Amazon Pay.

Based on the region of the purchaser, it automatically directs the transaction to the processor that has the highest authorization rates in that region. If the transaction is unsuccessful and we have to attempt to retry it using an alternative processor.

Notice: You also have the option to block transactions from certain regions or to limit the number of products available in each region.

Prevent Fraudulent Transactions without Blocking legitimate transactions

A good fraud prevention system can help you increase authorization rates, decrease chargebacks, and protect your company from attacks. But, in the event that genuine transactions are flagged as fraudulent, you'll be unable to recover revenue.

partners with Sift for advanced risk analysis and protection against fraud. Sift uses machine learning as well as AI to analyse millions of transactions around the world every month, to detect more risky transactions and provide greater accuracy. That means your fraud prevention will always be evolving in order to offer more security and increase approval rates.

It is also possible to stop transactions that originate from jurisdictions or countries in which businesses are not currently permitted to conduct business.

 If one of your customers does request a chargeback or there's an issue regarding fraud, take the initiative to solve it for you.

Stay clear of costly fines and penalties by Letting Handle Local Legal Conformity for You

If all transactions are legitimate and are completed, you may receive hefty penalties or being barred from doing business within the region in case transactions aren't in accordance to local laws and regulations. In the case of instance, there is a restriction on automatic recurring payments by the Reserve Bank of India limits automated recurring payments up to 15,000 INR.

The majority of companies require a complete compliance department of legal professionals in order to stay up-to-date with all the rules and laws of every jurisdiction they do business in.

You can also be fined or even face penalties if you don't file consumption tax. SaaS firms didn't need to pay taxes, but taxes for digital sales change and are being more enforced.

Companies that use Stripe (or an alternative point solution) are required to manage taxes independently. Although Stripe can help collect taxes on sales, they'll need other software to collect VAT, GST, as well as other types that collect consumption taxes. Plus, you'll need staff of tax professionals who will pay tax at the close of every tax season.

 relieves you of this burden by:

•   Incorporating all tax on consumption (including GST, VAT, SST, etc.).) and paying it back at the appropriate time for you.
•   Leading the way in legal compliance (including audits).  

Fully compliant with EU General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). We also renew our level one certification that is the most advanced level possiblethat is in accordance with our certification under the Payment Card Industry Data Security Standard (PCI DSS) every year.

All of the Checkouts to Subscriptions in One Platform

Instead of needing to build a payment stack of over dozen solutions that assist you in managing subscriptions, payment experiences, reports, analytics, and many more. Companies can control everything related to SaaS billing through their own control panel.

 Localized and Customized Checkout

Gives you complete control of your checkout process with our Store Builder Library. You can customize any aspect of checkout and our team can provide you with individualized support throughout every step of the way. We also offer pre-built experiences. With minimal code, you can embed checkout on a website or have the checkout pop-up. If you wish to outsource all the checkout process, you can choose the web storefront option where your customers will be taken to a web-based storefront to make their purchase. You can customize the storefront to match the visual branding of your website.

The checkout you select, lets you translate your checkout to local languages, and change prices to local currencies.

 Subscription Management

allows you to create a range of customized recurring and trial models without code. It also lets you use the API , webhooks and API library to create advanced subscription logic as well as integrations.

 Dunning Management

takes care of all missed payments as well as customers' notifications on failed payments for youSimply select how you'd like to handle it and we'll handle everything else. A few options you have are to:

• It is important to send proactive notifications to customers (e.g."Your credit card will soon expire').
• Send multiple follow-up notification (e.g., two five, seven 14 and 21 days following the date that their payment method has failed).
• Continue (or stop) the service until the last notice is sent.
• Stop (or end) the service after all notification notifications have been sent out and the card remains deferred.

Customers can also access an easy self-service portal through which they can update payment information as well as manage their subscription.

 Reporting and Analytics

A lot of SaaS companies employing Stripe are able to add reports and a customer analytics tool that gives them insights on metrics like MRR, churn rate and new customers based on product type or geography, and more.

, on the other hand is a powerful reporting and analytics tool built in your dashboard, where you are able to view key metrics of performance (KPI) for your customer base as well as your subscription model. You can view reports to be able to understand:

• How each product contributes to the bottom line of your business.
• What promotions or coupons have been successful.
• Which subscription models generate the most money.
• Where your customers are located.
• and many and more.

Each report is customizable and stored for quick access at a later date. It is also possible to share and export reports in an image, CSV, or an XLSX spreadsheet.

Flat-Rate Fee, No hidden costs

Most payment processors (like Stripe) typically charge an affordable processing fee however, they'll charge extra to include features such as subscription management, additional assistance with payment methods, as well as tax collection. In addition, you'll be required to cover any other software needed for a complete billing solution and the staff for managing the entire procedure. In the majority of cases, this ends up being an expensive route to take.

In contrast, manages your entire SaaS bill procedure for a flat transaction cost. No add-on fees. No transition fees. There are no charges until the transaction takes place.

Paddle: Payment Infrastructure Platform

Paddle is an MoR to SaaS businesses that focus in B2C transactions, with the capability to provide one-product transactions. Paddle offers features like:

• Secure checkout.
• Recurring billing management.
• A solid payment toolkit.
• Fraud protection.
• Transaction and subscription reporting. (With their recent acquisition ProfitWell They plan to deliver SaaS reporting integrations in the in the near future.)
• Invoicing. (This function is being tested, and could not be the most appropriate solution for businesses that deal with B2B.)
• and more.

Verifone: Formerly 2checkout

Verifone can act as your MoR, or simply process the payment. They have the ability to support small to medium-sized businesses in a variety of fields (e.g. retail, retail and hospitality) providing both in-person as well as online services or goods.

Verifone functions include:

• Integrated POS.
• Kiosks.
• Payment processing using cryptocurrency.
• Device diagnostics.
• Hosted checkout.
• And more.

Billing Software for Selling Physical Goods and Services

While SaaS businesses can utilize virtually any bill-payer to sell their product (although some are more efficient than other solutions), not every solution will be effective for companies selling physical goods or services. Businesses selling physical products and services need solutions to manage their the online as well as physical sales.

When selling physical goods or services, the majority of firms are forced to use several different programs to build a complete billing solution. But, there are methods to minimize how many different programs you require and the your expenses will be. The best place to start is to take a close look at your present needs (e.g. Are you selling in-person and online?) as well as plan your requirements in the future (e.g. do you like to sell online at some point in the near in the near future? ).

You can then examine each option through a series of questions:

• How many aspects of billing do the programs include? Does each feature truly meet the requirements for the current requirements (e.g., maybe they offer a subscription bill solution, but don't offer the type of billing you want)? Do the features leave space for your business to grow?
• Are you able to get all of the options for one price, or do you need spend extra money for options you need? Is the cost sustainable over the long term, as your business expands?
• How easy will it be to connect the program with other software?
• Are the programs user-friendly?

We will then look at five Stripe rivals for businesses selling tangible goods and services. assist you in the search.

Square: Popular Payment Platform for Startups

Square is a very popular point-of sale solution for companies of all sizes. With Square you are able to take payment from your store online either in-person or through social media. In addition to processing payments, Square also offers solutions to:

• Virtual terminals (so you can accept payment by credit card on your PC).
• Marketing.
• Organizing customer contacts.
• Banking (including merchant accounts, savings accounts as well as loans).
• The management of employees (including pay, time off and more. ).
• and more.

PayPal for Business: Available on Major eCommerce Platforms

PayPal is a well-known ewallet for personal online payments However, they also offer business-specific payment options to businesses that are of any size. PayPal accepts debit cards as well as credit card processing at the store as well as from the website of your business.

(SaaS companies using can also accept payments through PayPal.)

PayPal for Business also includes:

• Finance for business.
• Donation instruments.
• Built-in integrations with major ecommerce online shopping carts (e.g., Shopify).
• Consulting services for refund and chargeback.
• A mobile app.
• Mass pay outs.
• And more.

Note: PayPal also has the only payment processor that is specifically designed for SaaS named Braintree.

Authorize.net: For Merchants and Small Businesses

Authorize.net (a Visa solution) is a payment services provider which supports mobile payments, phone payments, and ACH. They also provide a card reader to make payments in-person and also support online transactions.

Other features provided by Authorize.net comprise:

• Live, 24/7 customer service.
• The features for customer management will improve the user experience.
• Digital invoicing.
• Recurring payments tool.
• Advanced Fraud Detection Suite (AFDS).
• Plus.

Adyen: Robust Financial Technology Platform

Adyen is a technology for financial transactions platform with a focus on the scalable growth. In addition to the payment processing capabilities, Adyen offers features such as:

• Physical and virtual card creation.
• Techniques to improve traffic efficiency in real-time.
• Advanced fraud algorithms.
• Cross-channel sales support.
• Bank accounts for business customers.
• And more.

Amazon Pay: Payment Services and Fulfillment of Orders

Amazon Pay lets your customers use the payment information already stored on the Amazon account on your website. Amazon Pay can be used as a standalone payment option without becoming an Amazon merchant. You can however make use of Amazon Pay for your personal website , you can also be your own Amazon merchant (which allows you to opt for fulfillment by Amazon).

Amazon Pay includes:

• Optimized checkouts modeled after Amazon's checkout.
• Co-marketing campaigns.
• Self-service reporting dashboard.
• Tools for easy integration.
• and more.

Notice:With , your customers can pay using Amazon Pay and many other payment methods.