8 Best Stripe Alternatives In-Depth 2023 Guide

Many of the alternatives to Stripe fall under one of two categories: (1) payment processors as well as (2) an option for billing which covers processing payments as well as additional aspects of billing such as the detection of fraud, checkout and much more.

when selling physical products as well as products and services (online and in store), various Stripe alternatives built for physical goods payments (like Amazon pay, Square etc.).) offer payment processing, order fulfillment, financing options, and much more. (It's worth noting that most of these solutions can also be utilized by SaaS firms, but none of them are a complete payment solution.)

In this guide We will review eight of the most effective Stripe alternatives for each of these categories. Our expertise lies in the provision of MoR service to SaaS firms, we'll start by examining the in-depth features of our product .

 Table of Contents

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

All-in-one Payroll Solutions designed for SaaS Companies (MoRs)

Many companies using Stripe (or something similar to Stripe) are aware that Stripe is more than just payment processing however there are a few obstacles in making the system perform for you. There are a lot of add-ons and additional fees, and some of the options are not as extensive.

In this case, Stripe advertises subscription management features, however, many organizations end up connecting with another service like Chargebee or Recurly to get the features for managing subscriptions they need.

Most of the time, SaaS companies end up with a payment tech stack of over a dozen tools that can be used for:

• Estimating international tax.
• Further subscription management tools.
• Fraud protection.
• Handling chargebacks.
• Checkout.
• Higher authorization rates are available for other nations.
• And more.

The coordination of all the elements is a major strain on the development team.

Additionally, you'll need have a vast group of legal and tax experts in order to ensure compliance across the globe (because products such as Stripe don't help with any issues with legality). Although it's true that previously, SaaS and ecommerce companies didn't always have to pay sales or VAT tax, this isn't the case. If you don't collect and pay the correct amount of tax in each jurisdiction that you sell in it could result in massive fines, or be banned from selling products in the region at some point in the future.

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

A MoR takes care of the entire SaaS billing process for you, including the collection and payment of local and international taxes (such such as VAT and local sales taxes) 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 firms for more than 20 years. We know what it takes to grow globally in a matter of hours. Here are some examples of how we have helped other SaaS companies grow globally and boost revenue

Make use of multiple payment processors to increase revenue

A lot of SaaS companies and founding teams at first think that they need one payment processor to process payments. In reality, many SaaS companies eventually end up needing more to:

• Accept additional payment methods: Customers are more likely to purchase if they can use the payment method they prefer. However, not every processor accepts the same payment methods. Working with multiple payment processors lets you accept more payment methods and, therefore, increase revenue.
• Increase authorization rates for international transactions Credit card networks are more likely to accept transactions if the processor is legally incorporated within the same area. Some payment processors will establish an entity legal in several sites, however, the majority of businesses still require working with multiple payment processors to handle local payments.
• Accept payments from several countries:Some payment processors only support payments from select nations or regions. Utilizing multiple payment processors allows you to reach your clients in more areas.

Working with several payment processors can also solve problems with connectivity or system malfunctions. If one payment processor has a problem with its network it is possible to redirect your transaction to a different payment processor that is fully functional.

By using HTML0 , you'll be accepted by a variety of payment processors that specialize in global transactions and take the most popular payments methods across the globe which include PayPal as well as Amazon Pay.

Depending on the location of the buyer, automatically directs the transaction to the payment processor with the highest authorization rates in that region. Then, if a transaction fails, we automatically attempt to retry it using another processor.

Notice: You also have the option to block transactions from certain regions or restrict products within the region in which you reside.

Avoid fraudulent transactions by blocking legitimate transactions

An effective fraud defense system will help you increase authorization rates, decrease chargebacks, and safeguard your company from attack. But, in the event that legitimate transactions are classified as fraud, you'll have to lose revenues.

cooperates together with Sift to provide advanced security and risk analysis. Sift uses machine learning as well as AI to study millions of transactions across the globe each month in order to spot more risky transactions and provide greater accuracy. That means your fraud prevention will always be evolving in order to offer better security and improve the rate of approval.

It is also possible to stop transactions from countries and jurisdictions where firms aren't currently allowed to conduct business.

 If one of your clients does start a chargeback, or there's a concern with fraud, takes the initiative to solve it for you.

Reduce the risk of high fines and penalties By letting local legal Conformity to Your Benefit

However, even if all legitimate transactions go through, you could receive hefty penalties or not be able to transact in that region if the transactions do not comply to local laws and regulations. For example it is the case that the Reserve Bank of India limits automatic recurring payments to Rs15,000 INR.

Many companies require a compliance department made up of legal experts in order to stay up-to-date on all laws and regulations of each jurisdiction they do business in.

It is possible to be penalized or subject to penalties if don't file consumption tax. SaaS businesses didn't have to be required to pay taxes, but tax regulations for digital sales are evolving and becoming more applied.

Companies that use Stripe (or other point solutions) are required to manage taxes by themselves. Although Stripe can help collect the tax on purchases, you'll require additional software for collecting VAT, GST, and other forms of consumption tax. Plus, you'll need a staff of tax experts to remit the tax upon the conclusion of every tax season.

 relieves you of the burden of:

•   Collecting all consumption tax (including GST, VAT, SST, etc.) and remitting it at the time that is appropriate for you.
•   Taking the lead on legal conformity (including auditors).  

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

Manage Everything from Checkout to Subscriptions from One Platform

Instead of building an entire payment stack comprising over dozen solutions that aid you with managing subscriptions checkout experiences, reporting analytics, reporting, and much other things, companies can manage everything related to SaaS billing from their control panel.

 Localized and Customized Checkout

Gives you complete control of the checkout process using our Store Builder Library. You are able to modify any part of checkout and our team provides personalized assistance along the process. Additionally, we offer pre-designed experience. With minimal code, you are able to embed checkouts into your website, or create the checkout pop-up. For those who want to outsource all the checkout process, choose the web storefront option that will have your visitors taken to a web-based storefront for the purchase. The storefront can be customized to reflect the branding of your website.

Whichever checkout experience you choose, lets you translate your checkout to local languages, and convert prices to local currencies.

 Subscription Management

It lets you build a variety of custom trial and recurring billing designs without programming. It also lets you use the Webhooks API as well as webhooks libraries for sophisticated subscription logic and integrations.

 Dunning Management

manages all payments that fail and notify customers of any failed paymentSimply select how you'd like it to be handled, and we take care of all the rest. 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. 2 five, seven 14, and twenty-one days after their payment method fails).
• Continue (or pause) the service until the last notice is sent.
• The service will be stopped (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 intuitive self-serve portal where they can update payment information and manage their subscription plan.

 Reporting and Analytics

Many SaaS firms using Stripe are able to add an analytics and reporting tool that gives them insights on metrics like MRR, churn rate, new customers by product type or geography or location, and many more.

, on the other hand is a powerful report and analytics tool that is built into your dashboard where you are able to view important indicator of performance (KPI) for both your customer base and your subscription models. Reports can be viewed to be able to understand:

• What each product does to the bottom line of your business.
• What promotions or coupons work.
• Which subscription model generates the highest amount of revenue.
• Where your customers are located.
• And there's plus.

Every report can be customized and saved for easy access in the future. It is also possible to export and share reports as CSV, PNG or XLSX spreadsheet.

Flat-Rate Fee without hidden costs

Most payment processors (like Stripe) typically charge an affordable processing fee however, they'll charge extra to include features such as billing management, extra payment method support, and tax collection. Additionally, you'll need to cover any other software required for a comprehensive billing solution and the staff for managing the entire procedure. In the majority of cases, it's an expensive route to take.

On the other hand, manages your entire SaaS billing process for one flat-rate transaction fee. No add-on fees. No transition fees. No charges until a transaction takes place.

Paddle: Payment Infrastructure Platform

Paddle acts as an MoR to SaaS businesses that focus on B2C transactions with the ability to provide one-product transactions. Paddle has features such as:

• Secure checkout.
• Management of recurring billing.
• A solid payment toolkit.
• Fraud protection.
• Subscription and transaction reporting. (With their recent acquisition of ProfitWell and ProfitWell, they plan at delivering SaaS reporting integrations in the in the near future.)
• Invoicing. (This option is currently in beta, so it may not be the best option for companies that sell to B2B.)
• And more.

Verifone: Formerly 2checkout

Verifone can act as your MoR or just take payments. It allows them to help small and medium firms in various sectors (e.g. retail, retail and hospitality) providing both in-person as well as online goods or services.

Verifone functions include:

• Integrated POS.
• Kiosks.
• Crypto payment processing.
• Device diagnostics.
• Hosted checkout.
• Plus.

Billing Software for Selling Physical Goods and Services

Even though SaaS companies can use nearly any type of billing system to market their products (although some will be more effective than others), not every solution will be effective for companies offering physical goods or services. companies selling physical items and services will require solutions to manage their online and in-person sales.

If you are selling physical products or services, the majority of companies end up using multiple software in order to create a complete bill solution. However, there are ways to minimize how many different applications you will require, and also how much it will cost you. The most effective place to begin is to think about your present needs (e.g. Are you selling offline or in person?) and plan for your potential needs in the future (e.g. Do you be looking to begin selling online in the coming years? ).

After that, you are able to test each bill solution with a couple of key questions:

• How many aspects of billing does the program covers? Are the features offered by each one of them sufficient for your current needs (e.g., maybe they offer a subscription bill solution, but don't provide the billing model you require)? Do the features leave room for your company to expand?
• Will you get all options for one price, or will you have spend extra money for options you need? Can the cost be sustained in the long run, as your business expands?
• How easy will it be to connect the program with other programs?
• Is the software user-friendly?

We will then look at five Stripe competitions that sell physical products and services. This will aid you with your search.

Square: Popular Payment Platform for Startups

Square is a popular point-of-sale solution that is suitable for businesses of all sizes. With Square it is possible to accept the payment through your website as well as in person, and via social media. In addition to processing payments, Square also offers solutions to:

• Virtual terminals (so you are able to accept credit card transactions on your PC).
• Marketing.
• Organizing customer contacts.
• Banking (including merchant account, savings accounts as well as loans).
• Staff management (including payroll, time off, etc. ).
• and more.

PayPal for Business: Available on Major eCommerce Platforms

PayPal is an e-wallet that has gained a lot of recognition for personal online payments However, they also offer the option of accepting payments for companies of all sizes. PayPal allows debit card and credit card processing in-store or from your online business.

(SaaS companies that utilize it also process payments using PayPal.)

PayPal for Business also includes:

• Finance for business.
• Donation instruments.
• Integrates with the most popular ecommerce shopping carts (e.g., Shopify).
• Chargeback and refund consulting services.
• A mobile app.
• Mass pay outs.
• and more.

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

Authorize.net: For Merchants and Small Businesses

Authorize.net (a Visa solution) is a payment service provider that supports mobile payments, phone payments and ACH. Additionally, they offer a card reader to make payments in-person as well as online purchase support.

Other services provided by Authorize.net include:

• Live, 24/7 customer service.
• Customer management features to 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 focuses on growth that is scalable. In addition to 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 as well as Order Fulfillment

Amazon Pay allows your customers to use the payment information already stored in the Amazon account to access your site. Amazon Pay can be used as a stand-alone payment solution without becoming an Amazon merchant. However, you are able to use Amazon Pay on your own site and then become your own Amazon merchant (which allows you to opt for fulfillment by Amazon).

Amazon Pay is a part of:

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

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