8 Best Stripe Alternatives In-Depth 2023 Guide

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

In the case of selling physical items as well as service (online and in store), various Stripe alternatives designed specifically for physical payment (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 of these solutions can also be used by SaaS companies, however, they're not an all-inclusive payment system.)

In this article We will review the top eight Stripe alternatives within the categories we've listed above. Our expertise lies in offering MoR service to SaaS firms, we'll start with an in-depth review of our product .

 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 is a The most popular payment system for startups
• PayPal for Businesses: 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 designed for SaaS Companies (MoRs)

Most companies using Stripe (or an equivalent to Stripe) know that Stripe is more than just processing transactions However, there are some challenges to making the system function for your needs. There are a lot of extra fees and add-ons as well as some features are limited.

For example, Stripe advertises subscription management features, however, many businesses end up joining other services like Chargebee or Recurly to get the features for managing subscriptions they want.

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

• International tax calculations.
• Additional subscription management options.
• Fraud protection.
• Handling chargebacks.
• Checkout.
• Higher rates of authorization in other nations.
• and more.

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

Finally, you'll need to keep a group of legal and tax experts to keep your business in compliance globally (because products such as Stripe don't help with any issues with legality). While it's true that, historically, SaaS and ecommerce companies weren't required to pay sales or VAT tax, that's no longer the situation. If you don't collect and pay the correct amount of taxes in every jurisdiction that you sell in it could result in massive fines, or be banned from selling in that region later on.

Choosing a billing solution that also acts as your MoR solves all of these problems.

A MoR takes care of the entire SaaS payment process for you, including collecting and remitting local and international taxes (such as VAT or sales tax locally) while adhering to local laws and regulations, payments processing, chargebacks, and many more.

: International Payment Solution for SaaS

We have been serving as an MoR to global software companies for nearly 20 years, so we are aware of the steps needed to scale up globally fast. Here are some examples of how we helped others SaaS businesses expand internationally and increase revenue:

Leverage Multiple Payment Processors to Increase Revenue

Many SaaS businesses and their founding teams initially think they just require one processor for payments to accept payments. But, the majority of SaaS companies eventually end up needing more to:

• Accept other payment options: Customers are more likely to make a purchase if they can use the payment method they prefer. However, not every processor accepts the same list of payment options. The use of multiple payment processors allows you to take on more payment options which, in turn, increases revenue.
• increase the rate of authorization for international transactions: Credit card networks are more likely to authorize transactions when the payment processor is a legal entity in the same location. Certain processors set up a legal entity in multiple places, but most businesses still require working with multiple processors to be able to process every payment locally.
• Accept payments from several nations:Some payment processors only accept payments from a select group of areas or countries. Working with multiple payment processors allows you to connect with clients in more areas.

Utilizing multiple processors for payments can also solve problems with connectivity or system malfunctions. If one payment processor is experiencing a network failure, you can reroute your transaction to a different payment processor that is fully functional.

With , you'll be assisted by multiple payment processors that are experts in international transactions and accept the most popular payment methods around the world -- including PayPal and Amazon Pay.

Based on the region of the buyer, automatically sends the payment to the processor that has the highest rate of authorization in that region. Then, if an attempt to make a payment fails and we have to retry the transaction 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 valid transactions

A good fraud prevention system can assist you in increasing the rate of authorization reduce chargebacks and defend your business from threats. If legitimate transactions are classified as fraudulent, you'll be unable to recover the revenue.

cooperates together with Sift to provide advanced security and risk analysis. Sift uses machine learning and AI to analyse millions of transactions across the globe each month to identify more risky transactions and provide greater accuracy. It means that your protection against fraud is constantly evolving to provide more security and increase the rate of approval.

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

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

Reduce the risk of high fines and penalties by Letting Handle Local Legal Conformity to Your Benefit

If all transactions are legitimate and take place, you might pay hefty fines or even be prevented from transacting within the region in case transactions do not comply with the local regulations and laws. For example there is a law that states the Reserve Bank of India limits the automatic recurring payment to Rs15,000 INR.

Many companies require a compliance team of lawyers who are up to date on all rules and laws of every jurisdiction they do business in.

You can also be fined or face penalties if you don't file consumption tax. SaaS businesses didn't have to be required to pay tax, but the tax rules for sales made online are changing and being increasingly implemented.

Businesses that utilize Stripe (or other point solutions) must manage tax by themselves. Even though Stripe helps collect the tax on purchases, you'll need other software to collect GST, VAT and other forms that collect consumption taxes. In addition, you'll need an expert tax team to pay the tax at the close of every tax season.

 relieves you of the burden of:

•   The collection of all taxes on consumption (including GST, VAT, SST, etc.).) and then transferring it to the right time for you.
•   Leading the way in legal compliance (including auditors).  

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

Manage Everything from Checkout to Subscriptions in One Place

Instead of having to create a payment stack that includes more than a dozen different solutions to assist you in managing subscriptions, customer checkouts, reporting analytics, reporting, and much other things, companies can manage every aspect of SaaS billing through their own control panel.

 Localized and Customized Checkout

gives you full control over your checkout procedure with the Store Builder Library. You are able to modify any part of your checkout process and our staff provides personalized assistance along every step of the way. Additionally, we offer pre-designed experiences. Utilizing only minimal code, you can embed checkout on a website or even an open-ended checkout. Or, if you want to outsource your entire checkout process, you can choose the web storefront option which will see your clients redirected to a website to make their purchase. The storefront can be customized to match the visual branding of your website.

Whatever checkout option you pick let you translate checkout in local languages as well as convert prices to local currencies.

 Subscription Management

It lets you build a variety of customizable recurring and trial billing model without writing code. You can also use 's API and webhooks library for sophisticated subscription logic and integrations.

 Dunning Management

manages all payments that fail and customer notifications for you -Simply select how you'd like to handle it and we'll take care of all the rest. The options available to you are to:

• Provide proactive alerts to customers (e.g."Your credit card will soon expire').
• Send Multiple follow-up notifications (e.g. 2, five, seven 14 and 21 days after the payment method fails).
• Continue (or stop) the service up to the point that the last notification is sent.
• The service will be stopped (or cancel) the service after all the notifications have gone out and the payment remains deferred.

Customers can also access an intuitive self-service platform where they can change their payment details and manage their subscription plan.

 Reporting and Analytics

Many SaaS businesses using Stripe will eventually add an analytics and reporting tool to give them insight into statistics such as MRR, churn rates and new customers based on the type of product or location, and more.

On the other hand, has a robust report and analytics tool that is built within your dashboard. You are able to view important performance indicators (KPI) for both your customer base as well as subscription model. You can view reports to know:

• How each product contributes to the bottom line of your business.
• What coupons or promotions work.
• Which subscription models generate the highest amount of revenue.
• Where your customers are located.
• Plus many plus.

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

Flat-Rate Fee without hidden costs

Many payment processors (like Stripe) typically charge a low processing fee, however, they'll charge extra for services like the management of subscriptions, other assistance with payment methods, as well as tax collection. Plus, you'll have to pay for any additional tools required to create a fully-fledged bill-paying solution, as well as the personnel to oversee the whole procedure. For most companies, it's an expensive route to take.

In contrast, manages your complete SaaS payment process with a single flat rate transaction fee. No add-on fees. No transition fees. No charges until a transaction is completed.

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 offers features like:

• Secure checkout.
• Recurring bill management.
• A powerful payment toolkit.
• Fraud protection.
• Transaction and subscription reporting. (With their recent acquisition ProfitWell and ProfitWell, they plan at delivering SaaS reporting integrations in the coming years.)
• Invoicing. (This feature is still in beta, so it may not be the best choice for B2B companies.)
• And more.

Verifone 2.checkout: Previously 2checkout

Verifone acts as your MoR, or simply make payments. It allows them to help small and medium companies in different industries (e.g. retail, retail, and hospitality) providing both in-person as well as products or services that are available online.

Verifone functions comprise:

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

Billing Software for Selling Physical Goods and Services

Although SaaS firms can make use of virtually any bill-payer to market their products (although some are more effective than others) however, not all solutions can be used by companies offering physical goods or services. companies selling physical items or services require solutions to manage their online and in-person sales.

If you are selling physical products or services, many firms end up using two or more different software to build a complete billing solution. There are, however, ways to reduce the number of applications you will require, and also how much it will cost you. One of the best places to begin is to carefully consider your current needs (e.g. Are you selling online and in person?) And plan for the potential needs in the future (e.g., will you want to start selling online in the coming years? ).

Then, you can evaluate each billing solution with a couple of key questions:

• What aspects of billing does the program cover? Are the features offered by each one of them sufficient for the current requirements (e.g. Perhaps they provide a subscription-based billing solution but they don't support the model you need)? Are the options allowing room for your company to expand?
• Will you get all options for one price, or will you have spend extra money for features you need? Is the cost sustainable over the long term, as your business increases?
• How simple will it be to connect the program with other software?
• Is the software user-friendly?

Next, we cover five Stripe competitions that sell physical products and services. This will aid you with the search.

Square: Popular Payment Platform for Startups

Square is a well-known point-of-sale solution that is suitable for businesses of all dimensions. With Square it is possible to accept the payment through your website either in-person or through social media. Beyond processing transactions for payments, Square also offers solutions for:

• Virtual terminals (so that you can take 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 and more. ).
• And more.

PayPal for Business is available on the most popular eCommerce Platforms

PayPal is a well-known ewallet to pay online for private transactions However, they also provide business-specific payment options to businesses in all sizes. PayPal accepts debit cards and credit card processing both 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).
• Refund and chargeback consulting.
• A mobile app.
• Mass payouts.
• and more.

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

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

Authorize.net (a Visa solution) is a payment service provider that supports mobile payment, phone transactions, and ACH. Additionally, they offer a card reader for in-person payments and support online purchases.

Other features that are offered by Authorize.net include:

• Live, 24/7 customer service.
• Features for managing customers to increase ease of use.
• Digital invoice.
• Recurring payments tool.
• Advanced Fraud Detection Suite (AFDS).
• and more.

Adyen: Robust Financial Technology Platform

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

• Creation of physical and virtual cards.
• Techniques to improve traffic efficiency in real-time.
• Advanced fraud algorithms.
• Cross-channel sales support.
• Bank accounts for business customers.
• and more.

Amazon Pay: A Payment Service as well as Order Fulfillment

Amazon Pay let your customers make use of their existing payment details within the Amazon account to access your site. Amazon Pay can be used as a standalone payment option that does not require becoming an Amazon merchant. However, you are able to use Amazon Pay for your personal website and become an Amazon merchant (which allows you to opt for fulfillment by Amazon).

Amazon Pay comes with:

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

NOTE:With , your customers may pay via Amazon Pay and many other payment methods.