Discover the best Stripe alternatives. See 8 Stripe alternatives for SaaS designed to streamline payments and boost your revenue.
TL;DR:
In the fast-paced world of SaaS, smooth payment processing is non-negotiable. For many, Stripe is the go-to solution. It's familiar, easy to integrate, and boasts a user-friendly interface. But what if your scaling SaaS company could find a better fit?
While Stripe excels for many, it might not be the most cost-effective solution for all businesses, especially as you grow.
This begs the question: are there better alternatives out there? The answer is yes.
We're going to explore eight Stripe alternatives for SaaS businesses that could be a better fit for your payment needs.
Find the perfect payment solution for your business. Book a free consultation now!
A Stripe alternative is a payment solution that businesses, especially SaaS companies, can use instead of Stripe to meet their payment processing needs. While Stripe offers a comprehensive suite of products like Stripe Billing (for managing subscriptions and recurring payments) and Stripe Connect (for marketplaces and platforms facilitating payments for third parties), there are situations where an alternative provider may be a better fit.
Businesses often explore alternatives when they outgrow Stripe's cost structure, need greater customization, or face limitations in scalability and transaction fees. Alternatives to Stripe often provide more flexibility in pricing models, offer tailored solutions for different industries, and simplify complex onboarding and payment workflows.
Why Look for a Stripe Alternative?
Potential Alternatives to Stripe Products
Exploring a Stripe alternative could optimize your payment processing strategy, making it more cost-effective and scalable for your growing SaaS business.
Swipesum is the best alternative to Stripe for businesses seeking personalized payment solutions and cost optimization. By acting as your Chief Payments Officer, Swipesum analyzes your specific needs, negotiates the lowest rates, and handles technical integrations to maximize revenue. Their white-glove customer service ensures seamless onboarding and ongoing support tailored to your growth. With Swipesum, your payments are optimized, transparent, and managed by a team of experts dedicated to your success.
ProPay is what many Fintechs use to createtheir Stripe alternative, why go through amiddleman when you can go direct? ProPay is known for its industry-leading revenue sharing model and comprehensive feature set. It caters specifically to the needs of SaaS companies looking to replace Stripe Connect.
It offers a user-friendly platform with features like subscription management, recurring billing, and built-in fraud prevention tools.
This relative newcomer to the scene has a flexible platform designed to accommodate various business models. Its focus on scalability and customization makes it a strong contender for rapidly growing SaaS companies.
However, be mindful of potentially higher costs compared to other options.
Payrix offers both registered and unregistered PayFac solutions. It helps businesses accept payments with features like onboarding, security checks, and reporting. Their system is easy to integrate and allows businesses to customize their payment pages.
However, they mainly focus on small and medium businesses and may not be suitable for larger companies. There have also been reports of issues working with their parent company, Worldpay.
Paysafe is a major player in the payments industry. It offers its own PayFac solutions along with a solid suite of payment processing features. This can be a good choice for companies seeking a well-established provider with a global reach.
Tilled works with ISOs (Independent Sales Organizations) and is a distributor of Paysafe. It offers a more streamlined experience for businesses seeking a reliable PayFac solution backed by Paysafe's established infrastructure.
Primarily known as a payment gateway, NMI also offers PayFac solutions through ProPay. This can be a good option if you're already familiar with NMI's gateway services and value the integration benefits.
Similar to NMI, Cardknox offers white-label PayFac solutions built on top of ProPay's infrastructure. This allows for customization and branding alignment while leveraging ProPay's established platform.
Stripe, alongside Square, often charges higher by-rates and lower revenue-sharing options compared to other processors. These seemingly small percentages can translate into significant cost burdens as your customer base grows.
While Stripe is a great starting point, its pricing structure might not scale efficiently with your success. Many companies end up migrating to other providers after gaining traction. This is usually due to limitations in Stripe's cost-effectiveness for larger transaction volumes.
The drawbacks of Stripe for SaaS may have you reconsidering your options. In that case, managed PayFacs (Payment Facilitators) might be the key solution.
Managed PayFacs or PayFac-in-a-box platforms streamline payment processing for your business. They become a payment facilitator for your business. This eliminates the need to navigate acquiring a merchant account and dealing directly with processors.
Essentially, managed PayFacs act as a master merchant, handling the complexities behind the scenes.
Here's what makes managed PayFacs compelling alternatives to Square and Stripe:
With a variety of compelling Stripe alternatives, choosing the perfect payment processor for your SaaS company can feel overwhelming. Here are some considerations to guide your decision-making process.
Analyze the fee structure of each provider. Look beyond headline rates and consider factors like per-transaction fees, monthly fees, and revenue-sharing models. Choose an option that aligns with your pricing strategy and future growth projections.
Make sure the chosen platform can efficiently handle your transaction volume, both now and in the future. Choose a solution that scales seamlessly alongside your growing customer base. This can help you avoid the need for frequent platform switches.
To ensure a smooth operation of your SaaS business, focus on these key features:
Choose a provider that offers these functionalities to streamline operations and enhance customer experience.
When assessing integration with your current SaaS platform, choose a solution that provides smooth payment integration. This minimizes development time and guarantees a seamless checkout experience for your customers.
The world of payment processing for SaaS companies extends far beyond Stripe. By exploring the top alternatives we've explored, you can propel your business forward.
Ready to discover the perfect credit card processor for your SaaS business and eliminate most fees? Swipesum can help!
Our team of experts can assess your needs and match you with the ideal payment processing partner to fuel your SaaS success.
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Michael Seaman
Michael Seaman is the co-founder and CEO of Swipesum. A veteran of the payments industry and former employee at one of the largest payments companies, Michael, along with his brother Stephen, has led Swipesum since its inception in 2016. Swipesum is committed to providing innovative payment solutions and exceptional service to its diverse clientele. In his free time, Michael enjoys traveling with his wife Kelsey and their three children, pole vaulting, and engaging in typical Midwestern dad activities.
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