What is your favorite service for recurring monthly billing and why?
The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched BusinessCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.
We have used Freshbooks for several years and have never had a problem. It integrates with our merchant account and sends out professional invoices that our clients can pay online. It’s easier for the client, and we don’t have to wait for a check to come in the mail. It’s a win-win situation for both sides.
Disclaimer: I’m in the credit card processing industry so I know a lot about the options. I love PayHub.com because it’s free to set up and just $8 a month for features that include easy to set up recurring billing, as well as mobile payments, online payments and virtual terminal options that can integrate with swipers for retail sales. It’s a great, inexpensive and scalable platform.
People feel very comfortable using paypal. There is massive adoption, and it gives them control over when they want to cancel their subscriptions. We’ve tried using other system, but in the end, Paypal has performed best as people know the system, trust it and have fewer qualms about creating recurring subscriptions through it.
Stripe has totally changed the game for easy-to-use payment APIs. We work with a lot of payment gateways, and Stripe’s recurring billing API is by far the easiest to integrate with and has the most sensible behavior.
Recharge for Shopify is an amazing app for anyone using Shopify. It offers killer customer support and an easy-to-integrate product, which make it a winner for our recurring billing needs.
Beanstream is a credit card processor that offers a powerful API; you can customize the look, feel and functionality of how the payments are processed. They process all major credit cards, and the funds are deposited directly into a business bank account. There are also flexible options for setting up recurringbilling which will please both your customers and your finance people.
We use Recurly for its easy-to-use tracking and reporting interface. We like the clarity of information Recurly is able to show on historical subscriber and transaction growth. We can also quickly add teammates to give them access to the data.
8. Authorize and Fusebill
Our firm processes hundreds of credit cards a week, all for recurring clients. Our favorite recurring monthly billing services and or platforms have always been the ones that have the least amount of resistance. Authorize.net offers easy set up models for billing and push notifications that show accepted or declined transactions. We then intermingle Fusebill for our infrastructure to cut CPA costs.
– Sheldon Michael, Netjumps International
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