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

The majority of Stripe options fall in one of two types: (1) payment processors and (2) a billing solution that handles payment processing as well as other aspects of billing including the detection of fraud, checkout and more.

when selling physical products and products and services (online and in store), various Stripe options designed for physical product transactions (like Amazon pay, Square etc.).) are able to provide delivery of orders, payment processing with financing, order fulfillment, and more. (It's important to note that many of these solutions can also be employed by SaaS firms, but none of them is a complete payment solution.)

In this guide in this guide, we review eight of the best Stripe alternatives within each of these categories. Our expertise lies in offering MoR service to SaaS firms, we'll start 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 for Selling Physical Goods and Services
• Square: The most popular payment system for startups
• PayPal to Business Available on Major 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)

The majority of companies that use Stripe (or some other similar system to Stripe) are aware that Stripe is more than just payment processing however there are a few obstacles to making the system work for you. There are a lot of extra fees and add-ons, and some of the capabilities aren't as robust.

As an example, Stripe advertises subscription management capabilities, however, lots of companies end up integrating with an alternative service such as Chargebee or Recurly in order to gain the features for managing subscriptions they want.

Most of the time, SaaS companies end up with a payment tech stack that includes more than a dozen different tools to:

• Calculating international taxes.
• More subscription management features.
• Fraud protection.
• Handling chargebacks.
• Checkout.
• Getting higher authorization rates in different nations.
• Plus.

The coordination of all the elements is a major stress on the team working to develop.

Finally, you'll need to have a vast staff of legal and tax experts in order to ensure compliance across the globe (because solutions like Stripe don't help with any legalities). Although it's true that historically, SaaS and ecommerce companies weren't required to pay VAT or sales tax, this isn't the case. If you don't collect and pay the correct amount of taxes in every region you sell to, you could face hefty fines or get banned from selling products in the region in the future.

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

MoR MoR takes care of the entire SaaS billing process , from collecting and remitting local and international taxes (such such as VAT and local sales taxes), staying compliant with local laws and regulations, payments processing, chargebacks, and more.

: International Payment Solution for SaaS

is acting as an MoR for multinational software firms for more than 20 years. We know what it takes to grow globally in a matter of hours. Below are a few examples of how helped others SaaS companies grow globally and grow their revenue

Make use of multiple payment processors to boost revenue

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

• Accept other payment options: Customers are more likely to purchase when they have their preferred payment method. There are a few exceptions to this rule. 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.
• increase the rate of authorization for international transactions Credit card network are more likely to accept transactions if the processor has a legal entity located in the same place. Some payment processors will establish a legal entity in multiple places, but most firms still have to collaborate with multiple payment processors in order to process all payments locally.
• Accept payments from several nations:Some payment processors only allow payments from certain countries or regions. Working with multiple payment processors lets you reach clients in more areas.

Working with several payment processors will also help solve the issue of connectivity, or even system problems. If one of the payment processors experiences a network issue, you can reroute the transaction to a payment processor that's fully operational.

With , you'll get assisted by multiple payment processors, which specialize in global transaction and accept the most common payment methods around the world -- including PayPal as well as Amazon Pay.

Depending on the location of the purchaser, it automatically directs the transaction to the processor that has the highest authorization rates in that region. Then, if an attempt to make a payment fails then we immediately try again with another processor.

Note: You also have the option to block the transactions of certain regions or limit products in the region in which you reside.

Prevent Fraudulent Transactions without Blocking valid transactions

The right fraud protection can help you increase authorization rates as well as reduce chargebacks. It can also protect your company from attacks. If legitimate transactions get marked as fraud, you'll have to lose the revenue.

collaborates with Sift for advanced risk analysis and protection against fraud. Sift uses machine learning as well as AI to study millions of global transactions each month to identify more risky transactions and provide greater accuracy. This means your fraud protection is constantly evolving to provide more security and increase your approval rate.

Also, it is possible to block transactions coming from countries and jurisdictions where companies are currently not allowed to conduct business.

 In the event that one of your customers start a chargeback, or has a problem with fraud, takes charge to fix the issue for you.

Reduce the risk of high fines and penalties by letting the local Legal Conformity to Your Benefit

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

Most companies need a full compliance department of legal professionals who are up to date with the latest rules and laws of every location they conduct business.

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 taxes, but tax regulations for digital sales change and are being more enforced.

Businesses that utilize Stripe (or another point solution) must manage tax on their own. Even though Stripe will help gather sales tax, you'll need other software to collect GST, VAT and various other forms of consumption tax. In addition, you'll need a staff of tax experts to pay the tax at the end of each tax year.

 lets you free yourself from the burden of:

•   The collection of all taxes on consumption (including GST, VAT, SST, etc.) and remitting it at the time that is appropriate for you.
•   The company is leading the charge on legal compliance (including the 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 highest possible level -that is in accordance by certifying to 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 an entire payment stack comprising over 12 different options to help you manage subscriptions, customer checkouts, reporting analytics, reports, and other things, companies can manage all aspects of SaaS billing right through their own 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 provides personalized assistance along the way. Additionally, we offer pre-designed user-friendly experiences. By using only a few lines of code, you can embed checkout into a webpage or create the checkout pop-up. If you wish to outsource your entire checkout process, select the storefront on the internet that will have your visitors redirected to a website for the purchase. The storefront can be customized in order to fit the style of your website.

Whatever checkout option you pick let you translate your checkout to local languages, and change prices to local currencies.

 Subscription Management

allows you to create a range of custom trial and recurring billing models without code. It also lets you use the API and webhooks library for more complex subscription logic and integrations.

 Dunning Management

handles all failed payments and customer notifications for you -Simply select how you want it handled and we'll take care of everything else. The options available to you are:

• Send proactive alerts to customers (e.g."Your credit card will soon expire').
• Send multiple follow-up notification (e.g. Two, five, seven, fourteen, and twenty-one days after the payment method is unsuccessful).
• Continue (or suspend) this service until final notification was sent.
• Stop (or end) the service once all notifications have been sent out, and the transaction is still getting declined.

Your customers can also access an intuitive self-serve portal where they can update payment information as well as manage their subscription.

 Reporting and Analytics

A lot of SaaS companies using Stripe are able to add an analytics and reporting tool to give them insight into statistics like MRR, churn rate as well as new customers according to the type of product or location or location, and many more.

, on the other hand it has an extensive report and analytics tool that is built in your dashboard, where you can view important metrics of performance (KPI) for both your customer base as well as your subscription models. Reports can be viewed to understand:

• How each product contributes to the bottom line of your business.
• Which coupons and promotions work.
• Which subscription models earn the most money.
• Where your customers are located.
• Plus many and more.

Every report can be customized and stored for quick access at a later date. It is also possible to share and export reports in CSV, PNG or XLSX spreadsheet.

Flat-Rate Fee with No hidden costs

Many payment processors (like Stripe) typically charge fees for processing, which are usually low. however, they'll charge extra to include features such as subscription management, additional payment method support, and tax collection. Plus, you'll have to cover any other software needed for a complete billing solution and the staff for managing the entire process. Most companies find that this ends up being an expense.

The other side, manages your whole SaaS payment process for one flat-rate transaction fee. No add-on fees. No transition fees. Charges are not due until a transaction is completed.

Paddle: Payment Infrastructure Platform

Paddle is an MoR to SaaS companies focused in B2C transactions. It has the capacity to provide single-product transactions. Paddle has features such as:

• Secure payment.
• Recurring bill management.
• A powerful payment toolkit.
• Fraud protection.
• Reporting on subscriptions and transactions. (With their recent acquisition of ProfitWell and ProfitWell, they plan to offer SaaS integrated reporting in the coming years.)
• Invoicing. (This option is currently in the beta stage, which means it may not be the best option for companies that sell to B2B.)
• And more.

Verifone The company was previously 2checkout.

Verifone can act as your MoR or just process the payment. This gives them the flexibility for supporting small- to medium-sized firms in various industries (e.g. retail, retail, and hospitality) offering both in-person and products or services that are available online.

Verifone features are:

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

Billing Software for Selling Physical Goods and Services

Although SaaS firms can make use of nearly any type of billing system for selling their product (although some will be more effective than other solutions) but not all options is suitable for businesses offering physical goods or services. Companies selling physical goods or services require solutions to manage their online as well as offline sales.

In the case of selling physical items or services, most firms will use multiple software in order to create a complete bill solution. But, there are methods to reduce the number of software you need and how your expenses will be. One of the best places to begin is to carefully consider the current requirements (e.g. Are you selling online and in person?) as well as plan your future needs (e.g. do you be looking to begin selling on the internet in the near coming years? ).

You can then test each bill solution through a series of questions:

• What aspects of billing does the software covers? Is each offering truly sufficient 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 the possibility for your business to grow?
• Are you able to get all of the features for one price or will you have be charged extra for specific features you require? Is the cost sustainable long-term, as your company grows?
• How simple will it be to connect the program with other software?
• Are the programs user-friendly?

Next, we cover five Stripe competitors for companies selling physical goods and services to aid you with your research.

Square: Popular Payment Platform for Startups

Square is a popular point-of-sale solution that is suitable for businesses of all sizes. With Square, you can accept payment from your store online either in-person or through social media. Beyond payment processing, Square also offers solutions to:

• Virtual terminals (so you can accept credit card payments using your PC).
• Marketing.
• Organizing customer contacts.
• Banking (including merchant accounts, savings accounts and loans).
• Staff management (including payroll, time off and more. ).
• And more.

PayPal for Business: Available on Major eCommerce Platforms

PayPal is an e-wallet that has gained a lot of recognition to pay online for private transactions but PayPal also offers the option of accepting payments for companies of all sizes. PayPal allows debit card and credit card processing in-store and online.

(SaaS businesses that use it can take payments via PayPal.)

PayPal for Business also includes:

• Finance for business.
• Donation tools.
• Integrations built-in to major e-commerce stores (e.g., Shopify).
• Chargeback and refund consulting services.
• A mobile app.
• Mass payouts.
• And more.

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

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

Authorize.net (a Visa solution) is a service for payment provider which supports mobile payment, phone transactions as well as ACH. They also provide a card reader that can be used for payments in person as well as online purchase support.

Other options provided by Authorize.net are:

• 24/7, live customer support.
• The features for customer management will improve the user experience.
• Digital invoicing.
• Recurring payments tool.
• Advanced fraud detection suite (AFDS).
• Plus.

Adyen: Robust Financial Technology Platform

Adyen is a technology for financial transactions platform that focuses on the scalable growth. Alongside the payment processing capabilities, Adyen offers features such as:

• Physical and virtual card creation.
• Tools to optimize traffic in real-time.
• Advanced fraud algorithms.
• Cross-channel sales support.
• Business bank accounts for your users.
• And more.

Amazon Pay: Payment Service and Order Fulfillment

Amazon Pay lets your customers use the payment information already stored within their Amazon account that you have on your site. Amazon Pay can be used as a standalone payment option and is not a requirement to become an Amazon merchant. You can however make use of Amazon Pay on your own website , you can also become your own Amazon merchant (which allows you to opt to fulfill your orders through Amazon).

Amazon Pay includes:

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

Note:With , your customers can pay using Amazon Pay and many other payment methods.