8 Best Stripe Alternatives In-Depth 2023 Guide

The majority of Stripe options fall in one of two groups: (1) payment processors and (2) a billing solution which covers processing payments and other aspects of billing such as payment fraud, checkout and more.

when selling physical products or products and services (online or in person), various Stripe alternatives built for physical goods payment (like Amazon pay, Square etc.).) can provide the ability to process payments, fulfill orders with financing, order fulfillment, and much more. (It's important to note that many options can be utilized by SaaS companies, however, they're not a complete payment solution.)

In this review, we compare the top eight Stripe alternatives within every one of these categories. Since our expertise is in providing MoR services to SaaS firms, we'll start 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 Popular Payment Platform to help startups
• PayPal to Business Made available across the top 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 to SaaS Companies (MoRs)

Many companies using Stripe (or some other similar system to Stripe) recognize that Stripe offers more than just payment processing However, there are some challenges to making the system function for your needs. There are a lot of add-ons and additional fees, and some of the features are limited.

For example, Stripe advertises subscription management options, but many businesses end up joining another service like Chargebee or Recurly to get the subscription management features they want.

In the majority of cases, SaaS companies end up having a payment technology stack comprising more than a dozen applications that can be used for:

• Calculating international taxes.
• Additional subscription management options.
• Fraud protection.
• Handling chargebacks.
• Checkout.
• Higher rates of authorization for other nations.
• Plus.

The coordination of all the elements creates a huge stress on the team working to develop.

Finally, you'll need to maintain a large group of legal and tax experts to keep your business in compliance globally (because products like Stripe do not help in any laws). While it's true that, in the past, SaaS and ecommerce companies did not always need to pay sales or VAT tax, this is no longer the case. If you don't gather and remit the right amount of tax for each jurisdiction that you sell in, you could face massive fines, or be banned from selling in that region in the future.

Selecting a solution for billing which also functions as an MoR solves all of these issues.

A MoR takes care of all aspects of the SaaS payment process for you, including the collection and payment of local and international taxes (such such as VAT and sales tax locally) while adhering to local legislation and regulations, as well as payment handling, chargebacks and more.

: International Payment Solution for SaaS

has been acting as a MoR for global software firms for more than twenty years. Therefore, we know what it takes to grow globally in a matter of hours. Below are a few examples of how we have helped other SaaS businesses expand internationally and grow their revenue

Make use of multiple payment processors to Increase Revenue

A lot of SaaS businesses and their founding teams believe that they only need one payment processor to accept payments. However, most SaaS companies eventually end up needing more in order to:

• Accept additional payment methods: Customers are more likely to make a purchase if they can use their preferred payment method. There are a few exceptions to this rule. Not every payment processor supports the same payment methods. The use of multiple payment processors will allow you to use more payment methods which, in turn, increases the amount of revenue you earn.
• Increase authorization rates for international transactions Credit card networks are more likely to authorize transactions when the payment processor is legally incorporated located in the same place. Certain payment processors establish an legal entity with multiple places, but most businesses still require working with multiple payment processors in order to process local payments.
• Accept payments from more countries:Some payment processors only support payments from select areas or countries. Working with multiple payment processors lets you reach customers in more locations.

Working with several payment processors can also solve problems with connectivity or system malfunctions. If one payment processor experiences a network issue it is possible to redirect your transaction to a different payment processor that's operational.

With , you'll be supported by multiple payment processors, which specialize in global transactions as well as will accept the most popular payments methods across the globe which include PayPal and Amazon Pay.

Based on the region of the buyer, the system automatically transfers the transaction to the processor that has the highest rate of authorization in that region. If the transaction is unsuccessful and we have to attempt to retry it using a secondary processor.

NOTE: You also have the option of preventing transactions in certain regions, or to limit the number of products available in the region in which you reside.

Stop fraudulent transactions without blocking Valid Transactions

An effective fraud defense system will help you increase authorization rates as well as reduce chargebacks. It can also protect your company from attacks. If legitimate transactions are classified as fraud, you'll lose the revenue.

collaborates together with Sift for advanced risk analysis and protection against fraud. Sift uses machine learning and AI to analyze millions of transactions across the globe each month in order to spot more risky transactions and provide greater accuracy. This means your fraud protection will always be evolving in order to offer more security and increase the rate of approval.

Also, it is possible to block transactions coming 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 there's a concern with fraud, takes charge to fix it for you.

Avoid High Fines and Penalties by letting the local Legal Conformity for You

However, even if all legitimate transactions take place, you might pay hefty fines or even be prevented from transacting within the region in case transactions aren't in accordance with the local regulations and laws. In the case of instance it is the case that there is a restriction on automatic recurring payments by the Reserve Bank of India limits the automatic recurring payment to Rs15,000 INR.

The majority of companies require a complete compliance team of lawyers to keep up to date with all the laws and regulations of each jurisdiction they do business in.

It is possible to be penalized or even face penalties if you 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 implemented.

Companies that use Stripe (or other point solutions) must manage tax by themselves. While Stripe helps collect sales tax, you'll require other software to collect GST, VAT, as well as other types of tax on consumption. Plus, you'll need an expert tax team who will pay tax at the close of each tax period.

 takes away this burden by:

•   The collection of all taxes on consumption (including GST, VAT, SST, etc.) and remitting it at the appropriate time for you.
•   Taking the lead on legal compliance (including the audits).  

is fully compliant with the EU General Data Protection Regulation (GDPR) as well as the California Consumer Privacy Act (CCPA). Additionally, we renew our level one certification -- which is the highest level possible -and is compliant with our certification under the Payment Card Industry Data Security Standard (PCI DSS) every year.

Control Everything From Checkout to Subscriptions in One Platform

Instead of having to create a payment stack that includes more than a dozen different solutions to help you manage subscriptions, payment experiences, reports, analytics, and many more. Companies can control every aspect of SaaS billing via their web-based account dashboard.

 Localized and Customized Checkout

gives you full control over the checkout process using your own Store Builder Library. You are able to modify any part of checkout and our team will offer personalized support along the process. We also provide pre-built checkout experience. Utilizing only minimal code, you can embed checkout into a webpage or even a pop-up checkout. For those who want to outsource the entire checkout process, opt for a storefront that is online that will have your visitors taken to a web-based storefront to make their purchase. You can customize the storefront in order to fit the style of your site.

Whatever checkout option you pick, lets you translate your checkout to local languages, and convert prices to local currencies.

 Subscription Management

lets you create a variety of customizable recurring and trial billing designs without programming. It also lets you use the API and webhooks library to build advanced subscription logic as well as integrations.

 Dunning Management

manages all payments that fail and customer notifications for you -Simply select how you want it handled and we'll take care of the rest. A few options you have include:

• It is important to send proactive messages to your customers (e.g."Your credit card expires soon').
• Send multiple follow-up notification (e.g. Two 5, 7, fourteen, and twenty-one days after their payment method fails).
• Continue (or suspend) the service up to the point that the last notification is sent.
• The service will be stopped (or end) the service once all notifications have been sent out, and the transaction is still getting declined.

Your customers are also able to access an intuitive self-service platform where they can edit their account information and control their subscription plans.

 Analytics and Reporting

A lot of SaaS businesses employing Stripe will eventually add reports and a customer analytics tool, which gives insight into stats like MRR, churn rate as well as new customers according to geographical region or type of product, and more.

, on the other hand it has an extensive analytical and reporting tool integrated within your dashboard. You can see important indicator of performance (KPI) for your customer base and your subscription model. You can view reports to know:

• How each product contributes to your bottom line.
• Which coupons and promotions work.
• Which subscription models generate the highest amount of revenue.
• Your customers' locations.
• Plus much more.

The reports can be personalized and saved for easy access at a later date. It is also possible to export and share reports as a CSV, PNG, or an XLSX spreadsheet.

Flat-Rate Fee without Hidden Costs

The majority of payment processors (like Stripe) typically charge fees for processing, which are usually low. however, they'll add fees for features like billing management, extra services for payment methods and tax collection. In addition, you'll be required to cover any other software required for a comprehensive bill solution as well as staff for managing the entire procedure. For most companies, it's an expense.

The other side, manages your entire SaaS billing process for one flat-rate transaction fee. No add-on fees. No transition fees. There are no charges until the transaction is completed.

Paddle: Payment Infrastructure Platform

Paddle is an MRO for SaaS businesses that focus on B2C transactions with the ability to provide single-product transactions. Paddle has features such as:

• Secure check-out.
• Recurring bill management.
• A powerful payment toolkit.
• Fraud protection.
• Transaction and subscription reporting. (With their recent acquisition ProfitWell, they look to offer SaaS reporting integrations in the future.)
• Invoicing. (This option is currently being tested, and may not be the best option for companies that sell to B2B.)
• Plus.

Verifone 2.checkout: Previously 2checkout

Verifone will act as your MoR or just make the payment. They have the ability 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 features are:

• Integrated POS.
• Kiosks.
• Processing of payments using cryptographic technology.
• Device diagnostics.
• Hosted checkout.
• Plus.

Billing Software for Selling Physical Goods and Services

While SaaS businesses can utilize virtually any bill-payer for selling their product (although certain solutions will be more efficient than other solutions) however, not all solutions can be used by companies that sell physical products or services. companies selling physical items and services need solutions to handle the online and physical sales.

In the case of selling physical items or services, most firms are forced to use several different programs in order to create a complete bill solution. There are, however, ways to limit the amount of programs you require and the your expenses will be. The most effective place to begin is to take a close look at your present needs (e.g. Are you selling in-person and online?) as well as plan your future needs (e.g., will you like to sell online in the in the near future? ).

You can then examine each option by asking a few key questions:

• How many aspects of billing do the programs cover? Does each feature truly meet the requirements for your current needs (e.g. perhaps they have a subscription bill solution, but don't offer the type of billing you want)? Does the feature set leave enough room for your company to grow?
• Do you receive all the functions for one price or do you need to pay extra for the options you need? Can the cost be sustained long-term, as your company increases?
• How easy will it be to integrate the software with different software?
• Are the programs user-friendly?

We will then look at five Stripe competitions that sell tangible goods and services. help you get started with your research.

Square: Popular Payment Platform for Startups

Square is a popular point-of-sale solution that is suitable for businesses of all dimensions. With Square you are able to take the payment through your website as well as in person, and via social media. Beyond payment processing, Square also offers solutions for:

• Virtual terminals (so you can accept credit card payments using your computer).
• Marketing.
• Organizing customer contacts.
• Banking (including merchant accounts, savings accounts, and loan).
• The management of employees (including pay, time off, etc. ).
• Plus.

PayPal for Business is available on the most popular eCommerce Platforms

PayPal is one of the most well-known ewallets to pay online for private transactions, however, PayPal also offers business-specific payment options to businesses of all sizes. PayPal supports debit card as well as credit card processing at the store and online.

(SaaS companies that utilize it also accept payments through PayPal.)

PayPal for Business also includes:

• Financing for businesses.
• Donation tools.
• Integrates with the most popular ecommerce shopping carts (e.g., Shopify).
• Consulting services for refund and chargeback.
• A mobile app.
• Mass payments.
• Plus.

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

Authorize.net is a great resource for Merchants and Small Businesses

Authorize.net (a Visa solution) is a service for payment company that accepts mobile payments, phone payments and ACH. They also provide a card reader for in-person payments and also support online transactions.

Other features that are offered by Authorize.net are:

• 24/7, live customer support.
• Customer management features to improve ease of use.
• Digital invoice.
• Recurring Payment Tool.
• Advanced fraud detection suite (AFDS).
• And more.

Adyen: Robust Financial Technology Platform

Adyen is a finance technology platform with a focus on scalable growth. 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.
• Business bank accounts for your users.
• and more.

Amazon Pay: Pay Services and Fulfillment of Orders

Amazon Pay allows your customers to use the payment information already stored within the Amazon account that you have on your site. Amazon Pay can be used as a stand-alone payment solution and is not a requirement to become an Amazon merchant. However, you are able to use Amazon Pay on your own website , you can also be your own Amazon merchant (which allows you to opt to have your fulfillment handled by Amazon).

Amazon Pay comes with:

• Optimized checkouts , based on the Amazon checkout.
• Co-marketing campaigns.
• Self-service reporting dashboard.
• Easy integration tools.
• And more.

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