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

The majority of Stripe options fall in one of two categories: (1) payment processors as well as (2) an option for billing that covers payment processing as well as additional aspects of billing like fraud detection, checkout, and much more.

In the case of selling physical items and service (online and in store), various Stripe options designed for physical product payments (like Amazon pay, Square etc.).) offer the ability to process payments, fulfill orders, financing options, and much more. (It's important to note that many options can be utilized by SaaS businesses, but none of them are a complete payment solution.)

In this article in this guide, we review eight of the best Stripe alternatives for the categories we've listed above. Since our expertise is in offering MoR service to SaaS businesses, we'll begin by providing a thorough review of our solution .

 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 is a The most popular payment system for Startups
• PayPal for Business: It is available on the most popular 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)

Many companies using Stripe (or something similar to Stripe) recognize that Stripe does much more than just payment processing however there are a few obstacles in making the system function for your needs. There are a lot of additional add-ons as well as fees, and some of the options are not as extensive.

For example, Stripe advertises subscription management options, but many businesses end up joining other services like Chargebee or Recurly for the subscription management features they require.

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

• Estimating international tax.
• Additional subscription management options.
• Fraud protection.
• Handling chargebacks.
• Checkout.
• Higher rates of authorization for other countries.
• And more.

Making it all work together is a major pressure on the development team.

Finally, you'll need to have a vast team of tax and legal experts to keep your business in compliance globally (because products such as Stripe aren't able to help with issues with legality). Although it's true that previously, SaaS and ecommerce companies didn't always have to pay VAT or sales tax, this isn't an issue. If you don't make sure you pay the proper amount of tax for each jurisdiction that you sell in the country you sell in, you may be subject to severe penalties or even be barred from selling within that area later on.

The choice of a bill solution which also functions as an MoR can solve these problems.

MoR MoR manages the entire SaaS charging process , from the collection and payment of local and international taxes (such as VAT and sales tax locally), staying compliant with local legislation and regulations, as well as payment handling, chargebacks and more.

: International Payment Solution for SaaS

is acting as an MoR for multinational software firms for more than twenty years. Therefore, we are aware of the steps needed to scale up globally fast. Below are a few examples of how we have helped others SaaS companies grow globally and increase revenue:

Make use of multiple payment processors to boost revenue

A lot of SaaS firms and founder teams at first think that they require one processor for payments to process payments. But, the majority of 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 the payment method they prefer. But, not every payment processor supports the same payment options. Utilizing multiple processors will allow you to take on more payment options which, in turn, increases revenues.
• Enhance authorization rates for international transactions The card networks are more likely authorize transactions when the payment 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 processors in order to process local payments.
• Accept payments from more nations:Some payment processors only accept payments from a select group of nations or regions. Working with multiple payment processors allows you to reach your customers from a wider range of locations.

Working with multiple payment processors could also resolve problems with connectivity or system malfunctions. If one of the payment processors is experiencing a network failure it is possible to redirect your transaction to a different payment processor that's operational.

By using HTML0 , you'll be supported by multiple payment processors who are experts in international payments as well as will accept the most common payment options around the globe that include PayPal as well as Amazon Pay.

Depending on the location of the buyer, the system automatically transfers the transaction to the processor that has the highest authorization rates in the region. In the event that a transaction fails, we automatically retry the transaction using another processor.

NOTE: You also have the option of preventing transactions from certain regions or restrict products within each region.

Prevent Fraudulent Transactions without Blocking Valid Transactions

The right fraud protection can assist you in increasing the rate of authorization, decrease chargebacks, and defend your business from threats. But, in the event that genuine transactions are flagged as fraud, you'll have to lose revenue.

cooperates in partnership with Sift for sophisticated risk analysis and fraud protection. Sift uses machine learning as well as AI to analyze millions of transactions around the world every month, to detect more risky transactions and provide greater accuracy. That means your fraud prevention evolves constantly to give you greater security as well as increase approval rates.

Also, it is possible to block transactions coming that originate from jurisdictions or countries in which businesses are not currently permitted to conduct business.

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

Stay clear of costly fines and penalties by Letting Handle Local Legal Compliance to Your Benefit

If all transactions are legitimate and are completed, you may pay hefty fines or even be prevented from transacting within that area if your transactions don't comply 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 who are up to date on all law and regulations in each location they conduct business.

You can also be fined or face penalties if you fail to file your consumption tax. SaaS businesses didn't have to be required to pay tax, but the tax rules for sales made online change and are being more applied.

Companies that use Stripe (or an alternative point solution) have to handle tax independently. While Stripe can help collect sales tax, you'll require another software program to collect VAT, GST, and other forms that collect consumption taxes. Additionally, you'll require an expert tax team to pay the tax at the close of each tax year.

 lets you free yourself from this burden by:

•   The collection of all taxes on consumption (including GST, VAT, SST, etc.).) and then transferring it to the time that is appropriate for you.
•   Taking the lead on legal compliance (including auditors).  

Fully compliant with 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 possible- by certifying to the Payment Card Industry Data Security Standard (PCI DSS) each year.

All of the Checkouts to Subscriptions in One Platform

Instead of building a payment stack of over a dozen different solutions to assist you in managing subscriptions, customer checkouts, reporting, analytics, and other things, companies can manage everything related to SaaS billing via their web-based dashboard.

 Localized and Customized Checkout

gives you full control over the checkout process using our Store Builder Library. It allows you to customize every aspect of checkout and our team can provide you with individualized support throughout the process. We also offer pre-built experiences. By using only a few lines of code, you can embed checkout into a webpage or even the checkout pop-up. If you wish to outsource all the checkout process, you can select the storefront on the internet where your customers will be redirected to a website to make their purchase. The storefront can be customized in order to fit the style of your website.

The checkout you select let you translate checkout in local languages as well as convert prices to local currencies.

 Subscription Management

lets you create a variety of customized recurring and trial model without writing code. It also lets you use the API , webhooks and API library to create 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 handle all the rest. A few options you have are:

• Provide proactive messages to your customers (e.g."Your credit card expires soon').
• Send Multiple follow-up notifications (e.g. 2 5, 7 14 and 21 days following the date that their payment method fails).
• Continue (or pause) this service until final notification has been sent out.
• Stop (or stop or) the service when all notifications have been sent out and the card is still getting declined.

With , your customers will also have access to an easy self-service portal through which they can edit their account information as well as manage their subscription.

 Reporting and Analytics

Many SaaS companies using Stripe end up adding a reporting and customer analytics tool that gives them insights into statistics like MRR, churn percentage and new customers based on geographical region or type of product as well as other.

However, it also, has a robust reporting and analytics tool built within your dashboard. You are able to view key metrics of performance (KPI) of your subscriber base as well as your subscription models. It is possible to view your reports and be able to understand:

• How each product contributes to the bottom line of your business.
• What coupons or promotions have been successful.
• Which subscription models earn the highest amount of revenue.
• Your customers' locations.
• and much more.

The reports can be personalized and saved to make it easy to access in the future. It is also possible to save and share your reports as CSV, PNG or XLSX spreadsheet.

Flat-Rate Fee without hidden costs

Most processing companies (like Stripe) typically charge a low processing fee, however, they'll charge extra for features like subscription management, additional services for payment methods and tax collection. In addition, you'll be required to cover any other software required for a comprehensive billing solution and the staff for managing the entire process. Most companies find that it's an expensive route to take.

On the other hand, manages your entire SaaS billing process with a single 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 acts as an MoR to SaaS companies focused in B2C transactions with the ability to provide one-product transactions. Paddle provides features that include:

• Secure payment.
• Recurring bill management.
• A robust payments toolkit.
• Fraud protection.
• Reporting on subscriptions and transactions. (With the recent acquisition of ProfitWell, they look at delivering SaaS integrated reporting in the coming years.)
• Invoicing. (This feature is still being tested, and may not be the best option for companies that sell to B2B.)
• And more.

Verifone: Formerly 2checkout

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

Verifone features comprise:

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

Billing Software for Selling Physical Goods and Services

Even though SaaS firms can make use of virtually any bill-payer to sell their product (although some will be more efficient than others) but not all options will be effective for companies offering physical goods or services. companies selling physical items and services need solutions to handle the online as well as offline sales.

When selling physical goods or services, the majority of firms are forced to use two or more different software to build a complete billing solution. However, there are ways to reduce the number of applications you will require, and also how much it will cost you. The most effective place to begin is to take a close look at your current needs (e.g., are you selling offline or in person?) and plan for your potential needs in the future (e.g., will you want to start selling online in the coming years? ).

You can then evaluate each billing solution through a series of questions:

• What aspects of billing does the program include? Are the features offered by each one of them sufficient for the current requirements (e.g. Perhaps they offer a subscription billing solution but they don't support the model you need)? Do the features leave the possibility for your business to grow?
• Do you receive all the features for one price or do you need spend extra money for features you need? Can the cost be sustained over the long term, as your business grows?
• How easy will it be to integrate the software with other programs?
• Are the programs user-friendly?

We will then look at five Stripe rivals for businesses selling physical goods and services to assist you in your search.

Square: Popular Payment Platform for Startups

Square is a popular point-of-sale option for all companies size. With Square it is possible to accept the payment through your website as well as in person, and via social media. Beyond payment processing, Square also offers solutions to:

• Virtual terminals (so that you can take credit card transactions on your PC).
• Marketing.
• Organizing customer contacts.
• Banking (including merchant accounts, savings accounts, and loans).
• Management of staff (including pay, time off, etc. ).
• and more.

PayPal for Business is available on the most popular eCommerce Platforms

PayPal is a well-known ewallet for personal online payments However, they also provide the option of accepting payments for companies in all sizes. PayPal supports debit card as well as credit card processing at the store as well as from the website of your business.

(SaaS companies using can also process payments using PayPal.)

PayPal for Business also includes:

• Financing for businesses.
• Donation tools.
• Integrates with the most popular ecommerce online shopping carts (e.g., Shopify).
• Refund and chargeback consulting.
• A mobile app.
• Mass payments.
• And more.

Note: PayPal also has an in-house payment processor designed specifically for SaaS called Braintree.

Authorize.net: For Merchants and Small Businesses

Authorize.net (a Visa solution) is a payment services provider which supports phones, mobile payments, and ACH. They also provide a card reader that can be used for payments in person and support online purchases.

Other services offered by Authorize.net comprise:

• Live, 24/7 customer service.
• The features for customer management will improve the user experience.
• Invoicing via digital.
• Recurring payments tool.
• Advanced fraud detection suite (AFDS).
• and more.

Adyen: Robust Financial Technology Platform

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

• Virtual and physical card creation.
• Techniques to improve traffic efficiency in real-time.
• Advanced fraud algorithm.
• Cross-channel sales support.
• Corporate bank accounts are for your clients.
• Plus.

Amazon Pay: A Payment Service as well as Order Fulfillment

Amazon Pay allows your customers to use the information about their payment already saved on their Amazon account to access your site. Amazon Pay can be used as a stand-alone payment solution and is not a requirement to become 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 to have your fulfillment handled by Amazon).

Amazon Pay includes:

• Optimized checkouts modeled after the Amazon checkout.
• Co-marketing campaigns.
• Self-service reporting dashboard.
• Easy integration tools.
• Plus.

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