Software as a Service (SaaS) applications' payment typically need a shopping cart / payment checkout or the ability to manage recurring or subscription payments. Both present challenges and opportunities for the SaaS platform. Choosing the right payment processor for your SaaS company is an important decision. After all, your customers trust you with their sensitive financial information. You have to make sure their details are safe. Moreover, you want to ensure that the payment process is smooth and that there are no hiccups. This is especially important if you are selling software to established businesses.
B2B customers are happy to pay top dollar for the right solution, but their expectations are high, and they will switch to a competitor the moment you let them down. So how do you choose the right payment gateway for your B2B SaaS? There are a lot of payment processors on the market. In this section, we’ll take a look at some of the major players:
Stripe is the best software platform for running an internet business. It handles billions of dollars every year for forward-thinking businesses around the world. Stripe combines a payments platform with applications that put revenue data at the heart of business operations.
They offer three main products: a payment platform, a billing system and software that powers platforms and allows them to pay sellers. Stripe processes more than 135 currencies, so chances are the currency that matters the most to your business is probably on that list.
Their standard payment processing fee is 2-3% per successful card charge in India and 4.3% for International transactions (additional 2% for currency conversion). Stripe is trusted by millions of businesses, including companies like amazon, Google, Lyft and Slack, as well as non-profits such as Unicef, Oxfam and Khan Academy.
Braintree is a PayPal service that offers two main products, Braintree Direct (to accept online payments) and Braintree Extend (to connect with partners). There’s also Braintree Marketplace (payments for online marketplaces) and Braintree Auth, which is still in beta at the moment of writing, but will “enable your merchants to connect a Braintree account to your platform, and receive permission to take action on their behalf.”
As a PayPal service, Braintree’s innovative payments technology, scalable solutions, and legendary white-glove support are backed by one of the world’s largest and most trusted fintech brands. It is the payments platform for some of the world’s leading brands including Uber, Dropbox, GitHub and yelp. Braintree accepts most major credit and debit cards such as Visa, MasterCard, American Express, etc. They also accept most widely adopted e-wallets such as PayPal, Apple Pay, Google Pay, etc.
The standard payment processing fee is 2.9% + $0.30 per transaction. Tailored pricing is also available.
Focus on your business, not your billing and back-office. Paddle unifies payments, subscription and billing management, manual invoicing, sales tax and financial compliance, fraud, and more with an All-in-One SaaS Commerce platform that grows with your company.
No extra tools to buy and bolt together. With Paddle, software products can grow into software businesses. It optimizes your pricing, scale self-service sales, and move upmarket with team plans and enterprise invoicing. You can use Paddle Checkout and APIs to create, customize, and control website and in-app purchase and subscription flows that match your brand, including upsell, cross-sell, and language localization. Paddle also allows to create any billing cycle, seat-based, usage-based, credit-based, whatever-based billing model with Paddle's flexible subscription management.
PayPal helps you get paid even if you don’t have a website or online checkout. Easily track and manage your cash flow-and get ready to sell more. It provides 3 easy ways to get paid: Email payments, Professional invoices and your personalised link to get paid In India or globally. With PayPal customers enjoy 180-day window for dispute resolution and zero liability for unauthorised transactions.
Paypal accept local and overseas payments from 200+ markets with a single account. For local payments in India, PayPal charges 2.5%* + Fixed fee (INR 3) per transaction. For international payments, the charges varies with monthly sales.
Adyen was founded in 2006 by a group of entrepreneurs, including Pieter van der Does and Arnout Schuijff. Adyen is the platform built to simplify and accelerate global payments. As your customers continue to move fluidly between online and offline, you need to be able to meet their expectations. Adyen allows you to easily manage payments across platforms.
The Adyen platform enables merchants to accept payments in a single system, enabling revenue growth online, on mobile devices and at the point of sale. It is a scalable enterprise solution that powers the payment processing of big tech, such as, Facebook, Uber, Netflix and Airbnb. That tells you Adyen is suited for building an end-to-end payment infrastructure, which allows for expanding fast and tracking results at manageable risk levels.
Adyen offers no fixed enterprise pricing plans, but charges a calculated processing fee and commission per each transaction. Fee is based on Interchange++ model for Visa, Mastercard and other cards. Interchange++ components include: interchange fee by issuing bank; scheme fee by cards scheme; and acquirer markup, if any.
Is your current payment processor the best one for your business? If you aren’t sure, you need to carefully consider all the options, and find the payment processor that best suits your business’ needs. But don’t expect to rely on it for billing and revenue management. You need a separate solution for that. So, either commit to building and managing one in-house, or use an existing solution.
Which one of the payment solutions attracts you the most? Please let us know in the comments section below.