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Top 5 SaaS Payment Solutions for Your Company

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The GoCardless content team comprises a group of subject-matter experts in multiple fields from across GoCardless. The authors and reviewers work in the sales, marketing, legal, and finance departments. All have in-depth knowledge and experience in various aspects of payment scheme technology and the operating rules applicable to each. The team holds expertise in the well-established payment schemes such as UK Direct Debit, the European SEPA scheme, and the US ACH scheme, as well as in schemes operating in Scandinavia, Australia, and New Zealand. See full bio

Last editedAug 20222 min read

Payment solutions refer to the technology involved in accepting payment from customers. It’s basically all the electronic equipment and software required to process payments.

Finding the best payment solutions for your SaaS business can be tricky. That’s why in this post, we’ll take you through some of the things to look for in a payment solution, plus offer some suggestions for the best SaaS payment solutions on the market.

SaaS payment facilitation solutions: What to consider

The type of payment solution your business requires will depend on the nature of your operations. If you’re an online business, for example, then you’ll need an online solution that can manage credit and debit purchases. If you’re a SaaS company that has a subscription-based model, on the other hand, you will probably require solutions for taking prorated and recurring payments as well.

Below are some of the additional payment solutions your SaaS company may need:

Accounting and payroll - Some payment solutions will offer in-built reconciliation services . Alternatively, they may integrate with your existing accounting software.
Payment analytics - It can be a great benefit to have reporting and analytic solutions as these can help you offer insight into sales and revenue data.
Customer relationship management (CRM) - Some payment solutions offer CRM features which can help you understand your customers on a deeper level. CRM stores customer records and transaction information meaning companies can reach out to customers with a very clear idea of their profile. This can make communication and marketing more targeted and segmented, which often leads to increases in sales.
Online payment processing - One of the key payment solutions you’ll need is payment processing. This will provide you with a payment gateway and a merchant account for accepting online payments.

SaaS payment solutions: what to look for

There are a couple of handy features all payment solutions should come equipped with. These are outlined below:

Customer support - When choosing a payment solution, it’s advisable that you check out what technical support they offer. When you’re starting out, you may need a lot of additional customer support, so look for solutions that have good customer reviews referencing the quality of the support.
SaaS specific features - As a SaaS company, you might want to seek out solutions that specifically cater to your industry.
Payment card industry (PCI) compliance - Ensure that all payment solutions you use are reputable and meet PCI compliance standards.