10+ Best Recurring Payment Management Platforms
A recurring bill which requires a periodic assessment should have one software that can manage all the transactions, along with the invoices. The ideal software should notify the customer when a subscription is going to end or else if the plan has been switched in between then the customer should be informed about the changes.
The benefit of having a recurring payment management software is that all your online finance-related tasks will be handled at one place, with the help of the platform you will be able to integrate APIs as well which will be a further advantage to your trade.
The cash flow of your business will be flawless and you will have full idea as to how your business is going, you will be able to gauge the churn rate and the highs and lows of the trade, which means that you will be having a proper assessment of the recurring payments that are taking place in your business.
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So, taking into consideration all the above mentioned points we have summed up the best recurring payment management platforms which will do the respective job of managing your finance online.
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Let’s have a look at them one by one: –
1. Pabbly Subscriptions – Recurring Payment Management Platform
Hearing about a new service isn’t a new thing but it’s rare to find something that perfectly aligns with all your needs.
And we dedicate this post to one such newbie which has got it all to be on the top of this list. Pabbly Subscriptions is a new player in the subscription billing segment and what makes it top this list?
It is the fact that it is designed keeping you and your subscription billing needs in mind and it justifies this at every point.
When every penny is hard earned, Pabbly Subscriptions provides you with all of its top class services at just $5 for a month.
Pabbly Subscriptions understands how precious your minutes are when your schedule is packed for 24/5. Hence, it is here to provide you with a one-stop solution to all your subscription billing needs. So, you can freely leave the work in the hands of Pabbly Subscriptions and can steal some time for yourself.
It takes care of your business just as you do and therefore never imposes limits on your customers, products etc.
- You can buy the Starter plan of this service at $5 per month where you can manage 50 customers with all essential features like multiple payment gateways, dunning emails and more.
- Next is a Rookie plan in which you can manage 1000 customers & get features like you can collect recurring or one-time payment, and many others. You have to pay a $29 per month for this plan.
- For acquiring the Pro plan, you need to spend $59 per month for management of unlimited customers. Plus, you get various other features like client portal, invoice billing, etc as well.
- To avail the advanced version, the price is $99 per month where you can manage unlimited customers. And you get many additional features such as client portal, custom domain, affiliate system.
There are a few features that we have handpicked to justify why we have kept it at first.
- Pabbly Subscriptions automatically schedules all your recurring and one-time payment. With its dunning feature, it sets a reminder for your subscriber for their monthly recurring payments.
In case of failed payments, Dunning feature keeps on following up with subscribers, so you never lose your precious customers. It also comes with PCI-Compliance so that you can keep your subscribers credential safer.
- You can integrate this software with various web pages of your choice withAPI-Key. Plus, you can also add an unlimited number of subscribers, products, promo codes, and coupons.
- Getting something extra is always like a sweet treat and Pabbly Subscriptions gives you this feast. Pabbly Subscriptions supports you with multiple currencies, multiple payment gateways and also lets you use multiple payment options such as credit cards, ACH etc.
2. Chargify – To Make REcurring Paymnets
Chargify provides a flexible and accurate recurring payment management platforms which tell us the meter usage, quantity based analysis, calendar billing, multi-currency and similar other services can be gained by the specific platform.
- Essential – $149/month + 1.2% of revenue (few advanced features included)
Advanced – $299/month + 1.2% of revenue (extra advanced features included)
Enterprise – Contact Chargify sales team for a custom plan (all advanced features included)
- You can automatically calculate the tax which means that the software provides the exact geolocations tax rates for more than thousands of taxing jurisdictions.
- The software offers alternative payments such as the credit cards, invoices, PayPal and ACH which makes the payment easier for the customer.
- One can also test new pricing configurations through which the new price points and models can be optimized.
3. Wallee – Recurring Payment Colletion
Wallee is an amazing software which acts as an amazing medium to handle recurring payments and subscriptions. Also, its categorized in the form “charge flow” in that the user requests the payment and the software take care of the outdated payment col lection.
- Starter- This plan will cost you $4.95 per month
- Advanced- To avail this plan, you have to pay $14.95 per month
- Business- For acquiring this version, the price is $69.90 per month
- Enterprise- If you want to opt for this plan, you can contact the service providers.
- With the help of subscription service, the software manages the subscriber. And also, upgrades the payment and calculation of the fees and the charges.
- You can send clean and accurate invoices, the built-in editor allows you to customize your invoice templates as per your need and adjust them according to the changes.
- The user can also integrate the subscription product directly with the API which allows you to create a self-service hub which let the customers modify their plans as per their need.
4. Stripe – A Platform For Collecting Recuring Payment
Stripe provides one of the best recurring management systems which provide periodic billing and invoices to customers. Besides, it also manages the calculations. For eg, if a customer switches its plan midway then the software will calculate the fees for the usage period.
Stripe provides you with the Pay as you go faciltiy. This means you pay the amount only for the amount of srvice you use.
- The software of the recurring payment offers metered usage which does all the complicated calculations and gives you the usage-based plan that incurs every month.
- The user can offer optional add-ons and permit customers to customize their subscriptions.
- One customer can be subscribed to multiple plans allowing the customer to have the benefit of multiple services at the same time.
5. Recurly – Recurring Payment Manager
Recurly has a fine payment management plans which will directly make your payment activities such as tracking transactions and generating invoices easier. It supports various payment options such as ACH, invoicing, credit cards, and many other media to pay your bill.
It provides you with 3 pricing plan-
- Core- This plan is free of cost. And you get all the basic features like a variety of payment methods, unlimited automated invoices, etc.
- Professional- You get all the core features along with volume pricing, revenue optimization engine & a lot more.
- Enterprise- Along with all the core & professional features, you also get access to other features like revenue recognition, unlimited API keys & webhooks, and more.
To know about the pricing details, you need to contact sales.
- The software subscription plans are so that it reduces the churn rate and increases your revenue by 7%, you can create a variety of different billing plans that are offered by the service provider.
- You can also increase developer productivity by quickly integrating and sharing data with other systems. Hence, ensuring secure online payments.
- Recurly takes care of the automated customer communications, proration of payments. Plus, as the management of billing each customer according to the plan.
6. Zoho Subscriptions – A Software To Collect Recurring Payment
Zoho provides sa marter way to handle recurring bills and subscription. It effortlessly tackles the failed payments. The online checkout process is customizable with the PCI compliant hosted pages that are also configured with your payment gateways. As a whole, it makes the payment process easy.
Its Professional plan will cost you $13.08 per month.
While you can also try the software for free without spending a single penny.
- You can integrate any application with the API with limited coding knowledge. Plus, the Zoho API’s are known for its easy use and simplicity.
- It allows you to create automated billing in the form of invoices which are automatically delivered to customers along with specific details.
- Also, you can gain the real-time metrics by gauging the subscription metrics like MRR, ARPU, and LTV using powerful business reporting.
7. Moonclerk – Recurring Payment Managemnet Software
The Moonclerk recurring payment management platform lets you start the software immediately by setting it up within a few minutes. Moreover, itis very compatible and works from any device which means you can assess it from anywhere you want.
Its monthly pricing ranges from $15 for $0 – $2,000 monthly volumes to $110 for $12,500 – $20,000 mon
- This software is a self-working one. Once it is setup then the user can manage the work without the technical knowledge i.e. there is no coding required.
- The mechanism of the mono clerk is so crafted that the customer can use a wide variety of recurring payment options.
- It ensures a high level of security equivalent to the bank by providing full SSL encryption and PCI compliance.
7. PayPal – For Recuring Payment Collection
PayPal provides an awesome recurring payment system. With this software, you can easily handle the payment and billing information, whether it’s your monthly or yearly subscription. It handles all your credit card and online subscriptions on a single & convenient platform.
To know about the pricing details, you can contact the sales team of PayPal.
- You can avoid the hassle of updating your online subscriptions and keep track of your bills and purchases on a single stop.
- PayPal is one of the safest and popular payment gateways and the customers can safely make transactions through the same.
- It allows you to carry out the transactions in a way you want to. Be it through bank account, debit card or credit card.
- The transactions can be done in any which way be it a bank account, debit card or a credit card.
9. PayWhirl – Tool To Collect Recurring Payment
PayWhirl provides an easy way of managing recurring bill payments that will automatically schedule and charge recurring payments from your customers. Additionally, the customer can tailor subscription as per their requirement through the specific recurring billing software.
- Starter- $0 /month
- For Business Pro, you have to pay $49 /month
- To avail Business Plus, the cost is $149 /month
- If you want to opt for Business Ultimate, then the price is $249 /month
- Another amazing feature is the easy accessibility that the user will get through the software. The user can accept the payments easily either through the phone, a website or a tablet.
- The software generates custom invoices and adds charges to any subscription bill at their will. It emails the invoices to the customers and their payment information file.
- Email customizing is the feature that will give the total control over the emails that your customer will receive. Thereby, you need not have another exclusive service for that, hence saving your time by managing it effectively.
10. Braintree – Recurring Payment Manager
Braintree is an amazing recurring bill software which takes care of your periodic billing, if the user changes the subscription then the intimation and the changes will be automatically done, it also provides flexible pricing such as set up discounts, add-ons, promotional periods, and rewards.
The software provides you with three varied plans-
- The first plan will cost you $40/mo
- Second plan will cost you $15/mo
- Third plan will cost you $65/mo
- You can securely store the account information in an exclusive pack termed as the BrainTree vault. Through this vault, the user can make repeat billing easy.
- The software runs on an autopilot function. This function updates the user credit card details and manages failed transactions details with a custom setting.
- The customer can search for plans and subscriptions and provide the results with the specific pricing plans as well.
11. WorldPay – Recurring Payment Colletion
WorldPay is a magnificent platform that handles recurring payments and billing and collects weekly, bi-weekly and monthly payment plans. Constructively, you can collect the payments from the mobile phones with the help of the virtual terminal. Hence, provide an easy accessibility.
For pricing details, contact the service providers.
- With the help of the WorldPay software, you can simplify small business payments. Not only recurring payments but you can also make other e-commerce transactions.
- Streamline your back office operations and have a fast access to your funds. Also, you can reduce the accounts receivable and collection expenses.
- You can secure the data through the encrypted card vault. It stores customer information in a token form to enhance recurring payments.
Here we have covered all the best recurring payment management platforms.
With the help of these software, your billing management will get simplified and will make your job less cumbersome.
Additionally, they track all your transactions details are accurately and create invoices for the same. In addition, this software will help you keep the customers intimated about the changes in the plan as well.
So you can choose among them the best recurring billing software that perfectly suits your need and requirement. And start finding any financial errors and loopholes if there are any.