Your business requires a fast and reliable tool for sending and receiving payments from clients. But with so many payment processing tools on the market, which one should you choose?
Here’s a list of six payment processing platforms for 2021.
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B2B payment processing tools fall into three major categories:
The following list includes tools from all three categories.
Over 60 million people worldwide use Venmo to share mobile payments. Small businesses can link a debit card to Venmo’s app and request electronic payments from clients for services. Features include:
Venmo charges clients who send credit card payments, and there are fees for cash-out transfers to bank accounts.
Although Venmo encrypts digital payments, there’s little protection for small businesses that transfer sizable sums of money.
Learn more:7 Best SaaS Billing Systems 2020
QuickBooks is the world’s most-used invoicing platform, with a broad range of features for small businesses of all types. There are two ways to send money via QuickBooks:
Users can transfer the following payments between QuickBooks accounts:
There are fees for using the money transfer features, but these costs are low compared to other platforms.
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Stripe is an all-in-one payment gateway platform that facilitates B2B transactions. You can set up automated payments for subscriptions without breaking a sweat. Stripe accepts the following forms of payment:
With an easy-to-use interface and various security features, Stripe is one of the most popular payment options for SaaS business owners that want to send and receive funds quickly. Users can also send payments via the Stripe app, available on iOS and Android devices.
Learn more:Stripe Analytics and Metrics on Baremetrics.
Recurly is a subscription management platform used by many of the world’s biggest SaaS and subscription companies. It’s not the cheapest platform on this list, with prices starting from $99 per month. However, it brims with features such as
Recurly users can also up-sell and cross-sell subscription services and convert free trial customers into bonafide subscribers.
The payment platform has advanced functionality, and businesses benefit from automated subscription communications and simple subscription management.
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Like Recurly, Zuora is a subscription management platform that automates many of the tasks associated with business-to-business payments. Users can integrate the tool with Salesforce. Zuora features include:
Users can also integrate the payment processor with Zuora analytics for further insights into billing trends.
Learn more:Stripe vs. Zuora: Features, Pricing, Reviews, and More
Braintree is an online payment solution for B2B companies that want to receive payments from clients. Users can accept various payment methods, including PayPal, with a click of a button. Features include:
Integrating your chosen payment tool with a SaaS metrics platform like Baremetrics provides you with additional insights into B2B payments, helping you track financials and grow your subscription business.
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