8 Best Stripe Alternatives In-Depth 2023 Guide

Most Stripe alternatives fall into one of two groups: (1) payment processors as well as (2) a billing solution which covers processing payments as well as other aspects of billing like fraud detection, checkout, and many more.

In the case of selling physical items and products and services (online as well as in-person), various Stripe options designed for physical product payment (like Amazon pay, Square and more.) are able to provide the ability to process payments, fulfill orders, financing options, as well as other options. (It's worth noting that most of these solutions can also be employed by SaaS companies, however, they're not a complete payment solution.)

In this review, we compare eight of the most effective Stripe alternatives for every one of these categories. Our expertise lies in the provision of MoR solutions to SaaS firms, we'll start with an in-depth review of our service .

 Table of Contents

•      MoRs for SaaS Companies
• : International Payment Solution for SaaS
• Paddle Payment Infrastructure Platform
• Verifone: Formerly 2checkout
•      Billing Software to sell physical Goods and Services
• Square: A well-known payment platform to help startups
• PayPal to Business It is available on the most popular eCommerce Platforms
• Authorize.net: For Merchants and Small Businesses
• Adyen Robust platform for Financial Technology
• Amazon: Payment Service and Order Fulfillment

All-in-one Payroll Solutions to SaaS Companies (MoRs)

Many companies using Stripe (or something similar to Stripe) know that Stripe is more than simply processing payments however there are a few obstacles to making the system work for you. There are a lot of extra fees and add-ons as well as some features are limited.

As an example, Stripe advertises subscription management options, but many companies end up integrating with other services like Chargebee or Recurly to get the subscription management features they need.

Most of the time, SaaS companies end up with a payment tech stack comprising more than a dozen applications to:

• Calculating international taxes.
• More subscription management features.
• Fraud protection.
• Handling chargebacks.
• Checkout.
• Getting higher authorization rates in other countries.
• and more.

Making it all work together is a major stress on the team working to develop.

In addition, you'll have to keep a group of legal and tax experts to maintain global compliance (because products like Stripe don't help with any legalities). Although it's true that in the past, SaaS and ecommerce companies did not always need to pay sales or VAT tax, that's no longer the situation. If you don't make sure you pay the proper amount of tax in each location you sell your products in the country you sell in, you may be subject to hefty fines or get banned from selling products in the region at some point in the future.

Selecting a solution for billing which acts as your MoR will solve all the issues.

MoR MoR takes care of all aspects of the SaaS payment procedure for you, which includes collecting and remitting taxes both internationally and locally (such as VAT or local sales tax) while adhering to local legislation and regulations, as well as payment processing, chargebacks, and more.

: International Payment Solution for SaaS

is acting as an MoR for global software companies for over 20 years. We have the experience to scale up globally fast. Below are a few examples of how helped other SaaS companies expand globally and boost revenue

Make use of multiple payment processors to Increase Revenue

A majority of SaaS businesses and their founding teams at first think that they require a single payment processor in order to process payments. But, the majority of SaaS enterprises eventually will end up having to purchase more processors in order to:

• Accept additional payment methods: Customers are more likely to complete a purchase if they can use their preferred method of payment. However, not every processor accepts the same payment methods. Working with multiple payment processors lets you accept more payment methods andthus, boost revenues.
• Enhance authorization rates for international transactions The card networks are more likely accept transactions if the processor is legally incorporated located in the same place. Some payment processors will establish an entity legal in several places, but most businesses still require working with multiple payment processors to be able to process every payment locally.
• Accept payment from more countries:Some payment processors only allow payments from certain areas or countries. Making use of multiple processors allows you to reach your customers in more locations.

Working with multiple payment processors can also solve connectivity issues or system failures. If one payment processor is experiencing a network failure, you can reroute your transaction to a different payment processor that's operational.

With , you'll be accepted by a variety of payment processors that are experts in international transaction in addition to take the most commonly used payment methods around the world -- including PayPal and Amazon Pay.

The location of the buyer, the system automatically sends the payment to the payment processor with the highest rates of authorization within that region. In the event that an attempt to make a payment fails and we have to retry the transaction using another processor.

NOTE: You also have the option of blocking the transactions of certain regions or limit products in every region.

Avoid fraudulent transactions by blocking valid transactions

An effective fraud defense system will help you increase authorization rates, decrease chargebacks, and protect your company from attacks. If legitimate transactions get marked as fraud, you'll have to lose the revenue.

partners in partnership with Sift for sophisticated risk analysis and fraud protection. Sift uses machine learning as well as AI to analyze millions of global transactions each month in order to spot high-risk transactions more accurately. It means that your protection against fraud will always be evolving in order to offer greater security as well as increase the rate of approval.

It is also possible to stop transactions in jurisdictions and countries where companies are currently not allowed to do business.

 In the event that one of your customers does request a chargeback or has a problem in fraud, you should take charge to fix the issue for you.

Avoid High Fines and Penalties By letting local legal Conformity to Your Benefit

However, even if all legitimate transactions take place, you might receive hefty penalties or not be able to transact in that region if the transactions aren't in accordance with local laws and regulations. In the case of example it is the case that there is a restriction on automatic recurring payments by the Reserve Bank of India limits automated recurring payments up to 15,000 INR.

Many companies require a compliance department of legal professionals to keep up to date on all rules and laws of every jurisdiction they do business in.

It is possible to be penalized or face penalties if you fail to file your consumption tax. SaaS firms didn't need to file tax returns, however the tax rules for sales made online are changing and being increasingly enforced.

companies that employ Stripe (or an alternative point solution) must manage tax by themselves. While Stripe will help gather the tax on purchases, you'll need another software program to collect GST, VAT, and other forms that collect consumption taxes. Plus, you'll need an expert tax team who will pay tax at the end of each tax period.

 relieves you of this burden by:

•   The collection of all taxes on consumption (including GST, VAT, SST, etc.).) and paying it back at the time that is appropriate for you.
•   Leading the way in legal conformity (including audits).  

We are fully in compliance with the EU General Data Protection Regulation (GDPR) and also the California Consumer Privacy Act (CCPA). We also keep our Level One certification -- which is the most advanced level possibleand is compliant with our certification under the Payment Card Industry Data Security Standard (PCI DSS) each year.

Manage Everything from Checkout to Subscriptions from One Place

Instead of needing to build a payment stack of over dozen solutions that aid you with managing subscriptions payment experiences, reports, analytics, and other things, companies can manage everything related to SaaS billing via their web-based control panel.

 Customized, Localized Checkout

gives you full control over your checkout process with our Store Builder Library. You are able to modify any part of the checkout process, and our team can provide you with individualized support throughout every step of the way. We also provide pre-built checkout experiences. Utilizing only minimal codes, you can integrate checkout on a website or create an open-ended checkout. Or, if you want to outsource your entire checkout procedure, opt for a storefront that is online which will see your clients taken to a web-based storefront to complete the purchase. You can customize the storefront to reflect the branding of your website.

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

 Subscription Management

lets you create a variety of customized recurring and trial models without code. You can also use 's Webhooks API as well as webhooks libraries for more complex subscription logic and integrations.

 Dunning Management

manages all payments that fail and customer notifications for you -- simply choose how you'd like it to be handled, and we'll take care of all the rest. The options available to you include:

• Send proactive notifications to customers (e.g."your credit card is expiring soon').
• Send Multiple follow-up notifications (e.g. 2, five, seven 14, and twenty-one days following the date that their payment method is unsuccessful).
• Continue (or pause) this service until final notification has been sent out.
• Pause (or end) the service after all the notifications have gone out, and the transaction is still getting declined.

Customers will also have access to an easy self-service portal through which they can change their payment details as well as manage their subscription.

 Reporting and Analytics

Many SaaS companies that use Stripe end up adding an analytics and reporting tool, which gives insight into statistics like MRR, churn rate as well as new customers according to product type or geography as well as other.

, on the other hand it has an extensive reporting and analytics tool built within your dashboard. You can see key metrics of performance (KPI) for your customer base and your subscription model. Reports can be viewed to know:

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

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

Flat-Rate Fee without hidden costs

The majority of processing companies (like Stripe) typically charge a low processing fee, but they'll also charge for services like the management of subscriptions, other payment method support, and tax collection. In addition, you'll be required to pay for any additional software needed for a complete bill solution as well as staff to oversee the whole procedure. Most companies find that this ends up being an expense.

In contrast, manages your whole SaaS payment procedure for a flat transaction fee. No add-on fees. No transition fees. Charges are not due until a transaction occurs.

Paddle: Payment Infrastructure Platform

Paddle serves as a MoR for SaaS businesses that focus on B2C transactions. It has the capacity to deliver one-product transactions. Paddle has features such as:

• Secure check-out.
• Recurring bill management.
• A solid payment toolkit.
• Fraud protection.
• Reporting on subscriptions and transactions. (With the recent acquisition of ProfitWell They plan to deliver SaaS integrated reporting in the in the near future.)
• Invoicing. (This feature is still in beta, so it could not be the most appropriate choice for B2B companies.)
• Plus.

Verifone 2.checkout: Previously 2checkout

Verifone will act as your MoR, or simply take payments. It allows them for supporting small- to medium-sized companies in different sectors (e.g. retail, retail, and hospitality) that offer both in-person and products or services that are available online.

Verifone functionalities are:

• 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 almost any billing solution for selling their product (although some are more efficient than others) but not all options can be used by companies selling physical goods or services. companies selling physical items and services need solutions that can manage online and in-person sales.

When selling physical goods or services, most businesses are forced to use two or more different software in order to create a complete bill solution. But, there are methods to limit the amount of software you need and how what it's going to cost you. One of the best places to begin is to take a close look at your present needs (e.g. Are you selling online and in person?) And plan for the requirements in the future (e.g. Do you be looking to begin selling online in the in the near future? ).

After that, you are able to examine each option by asking a few key questions:

• What elements of billing does the program include? Is each offering truly sufficient for the current requirements (e.g., maybe they offer a subscription bill solution, but don't offer the type of billing you want)? Are the options allowing room for your company to grow?
• Do you receive all the features for one price or do you need be charged extra for specific features you require? Is the cost sustainable long-term, as your company expands?
• How simple will it be to connect the program with other programs?
• Are the programs user-friendly?

We will then look at five Stripe competitors for companies selling tangible goods and services. help you get started with your research.

Square: Popular Payment Platform for Startups

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

• Virtual terminals (so you are able to accept credit card payments using your PC).
• Marketing.
• Organizing customer contacts.
• Banking (including merchant accounts, savings accounts, and loan).
• Management of staff (including pay, time off management, time off. ).
• Plus.

PayPal for Business is available on the most popular eCommerce Platforms

PayPal is an e-wallet that has gained a lot of recognition for personal online payments However, PayPal also offers payment options for businesses in all sizes. PayPal supports debit card and credit card processing both in store as well as from the website of your business.

(SaaS businesses that use it can accept payments through PayPal.)

PayPal for Business also includes:

• Business financing.
• Tools for donation.
• Integrations built-in to major e-commerce stores (e.g., Shopify).
• Consulting services for refund and chargeback.
• A mobile app.
• Mass payments.
• and more.

Note: PayPal also has a payment processor specifically for SaaS called Braintree.

Authorize.net The Authorize.net website is for Merchants and Small Businesses

Authorize.net (a Visa solution) is a service for payment company that accepts phones, mobile payments, and ACH. Additionally, they offer a card reader to make payments in-person and also support online transactions.

Other features that are offered by Authorize.net include:

• Live customer support 24/7.
• The features for customer management will improve user-friendliness.
• Digital invoice.
• Recurring payments tool.
• Advanced fraud detection suite (AFDS).
• And more.

Adyen Robust Financial Technology Platform

Adyen is a finance technology platform that is focused on growth that is scalable. Alongside payment processing, Adyen offers features such as:

• Creation of physical and virtual cards.
• Tools to optimize traffic in real-time.
• Advanced fraud algorithms.
• Cross-channel sales support.
• Corporate bank accounts are for your users.
• And more.

Amazon Pay: Pay Service and Order Fulfillment

Amazon Pay allows your customers to use the information about their payment already saved in the Amazon account that you have on your site. Amazon Pay can be used to pay for transactions and is not a requirement to become an Amazon merchant. You can however use Amazon Pay for your personal site and then turn into your own Amazon merchant (which offers the possibility to fulfill your orders through Amazon).

Amazon Pay comes with:

• Optimized checkouts , based on Amazon's checkout.
• Co-marketing campaigns.
• Self-service reporting dashboard.
• Simple integration tools.
• and more.

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