The top 10 subscription billing platforms of 2020
Looking to replace your subscription platform with something more efficient? We’ve got a list of the best subscription billing platforms around in 2020.
Back when SaaS businesses were a relatively new concept, many companies would combine a variety of services to build an all in one billing stack. Now though, with the introduction of many new services on the market, the lines have become a little blurry. Hybrid billing systems currently exist which add a subscription layer and a payment gateway within the same package. Read on to find out which subscription billing platforms get our vote in 2020.
1. Stripe
Our utmost favorite subscription billing platform vote goes to Stripe, which is extremely popular among SaaS businesses. Users choose Stripe because of its easy-to-use platform, which takes but a few minutes to get up and running. Instead of writing payment codes, developers can use a payment API to focus on the product while also allowing enough documentation to support the advanced features.
2. Braintree
There are often billing systems that need a separate payment management system when building an integration that can incur some complex fees you'd never have thought of. The payment management system provided by Braintree is transparent and straightforward, which relieves the stresses of regular subscription fees and allows the use of any gateway. They provide an all-round package with various payment options which would normally prove incredibly time-consuming if done manually.
3. Chargify
Next up on our list is Chargify which is geared towards subscription management for businesses that update their pricing often. You'll have tools at your disposal to monitor end to end customer lifecycles, such as reporting and customer service, and retention. Chargify's pricing model is based on revenue percentage, which provides a range of options to choose from. Chargify offers a variety of integrations and works in unison with payment gateway services.
4. MoonClerk
If you are not a developer, you have the option to use MoonClerk with the Stripe platform. Recurring and one-time payments are accepted via Stripe, and the platform works on mobile and desktop with some admirable flexibility. Technical experience isn't essential, and setup is easy. Businesses choose MoonClerk due to the Stripe integration ability, mainly because you don't need a coding background to get the most use out of Stripe.
5. Chargebee
Using a single API layer to enable powerful SaaS billing features such as billing, recurring payments, analytics, and subscription billing is what makes the Chargebee software special. There is a wide range of options to make customer plans flexible, which is very useful when scaling your business. Businesses in the $1 million - $20 million range are well suited to Chargebee.
6. FastSpring
It'll take a SaaS business 24 hours to get up and running with FastSpring, offering a full-stack solution which is much more than payment and subscription management. FastSpring provides flexible payment pages, storefront customization, and back-office solutions. If you need an all-rounder for your SaaS company, then this is one to not ignore.
7. Vindicia
Our next subscription billing platform comes in the form of a cloud-based SaaS solution that makes subscription billing and management tasks straightforward. All processes and integrations are connected without the requirement for in-depth coding knowledge, and as your business grows, the product will scale with it.
8. FuseBill
B2B and B2C companies alike can feel the benefits of FuseBill for billing and subscription management. The platform offers a web app integration API, meaning tech and SaaS companies will find the tool exceptionally useful. Businesses can offer customers a variety of payment options and plans, thanks to the range of pricing options.
9. Zoho Subscriptions
Subscription management can easily be automated with this next platform. No credit card is needed to set up a free test account, and you only pay when you bill your customers. You can use the sandbox environment to tweak various pricing models meaning no strings are attached if you don't find it a match.
10. Ordway
Last but by no means least, is a platform that says goodbye to manual workarounds concerning billing and management processes. Ordway can handle very complex pricing models for businesses looking to scale, and using a REST-API allows subscriptions and contracts to be added to a single system of record. Collecting payments, invoice sending, revenue recognition, and dunning are all standard features .
We hope our list of the best subscription billing platforms has helped you. If you found it useful, feel free to drop us a line in the comments.