12 Great Subscription Billing Platforms: How to Find Which One Is Right for You
The digital subscription economy is projected to reach $1.5 trillion by the end of 2025. Mind-blowing as that figure may be, it’s not hard to understand why that’s the case. When executed correctly, it’s a fast, simple, and cost-effective system that works well for all parties.
But, even as the business model becomes increasingly popular, merchants still struggle with trying to implement and maintain the entire process manually. Research also shows that 48% of recurring billing merchants face accounting and compliance issues resulting from inexperience recurring billing.
One potential answer to this dilemma lies in subscription billing platforms. These are software suites designed specifically for managing the challenges of digital subscriptions.
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What is a Subscription Billing Platform?
- Subscription Billing Platform
A subscription billing platform is a suite of tools — usually web-based — that are specifically designed to facilitate the subscription-billing process. Typical functions include invoicing, customer setup, and payment processing.
[noun]/səb • skrip • SHən • bil • ing • plat • fôrm/For all the automatic benefits of the subscription model, trying to stay on top of the upkeep and accounting is both confusing and extremely tedious if done manually. It’s time-consuming, susceptible to human error, and governed by additional regulations. Luckily, many of these challenges can be alleviated through the use of a subscription billing platform.
A subscription billing platform is a suite of products, all designed to complement each other and integrate into your existing workflow. A good platform will handle billing, but it will also enable you to more effectively track and manage the different components of your subscription program. Onboarding, payment processing, invoicing, accounting, legal compliance: you can optimize all these processes and more with a subscription billing platform.
While most people use the terms interchangeably, recurring billing and subscription billing are technically not the same. Recurring billing is a straightforward agreement for invoicing and collecting subscription revenue. Subscription billing is a more complex model that encompasses recurring billing and other features.
What Does a Subscription Billing Platform Do?
A good platform will streamline recurring billing. But, it will also enable you to more effectively track and manage the different components of your subscription process. Depending on the platform, this could include:
It’s true that any or all of these tasks can be completed by hand. However, a billing platform will be optimized to do the job faster, tirelessly, and with more accuracy.
Features to Look For in a Subscription Billing Platform
One of the premier benefits of a subscription management and billing platform is that you get advanced services right out of the gate. With the right solution, even smaller merchants can offer the same features as larger companies.
What is the “right” solution, though? How do you go about selecting the best platform? Here are some factors to consider as you’re researching companies:
Top Subscription Billing Platforms of 2024
With so many elements to consider, choosing a subscription billing platform can seem overwhelming. To help you out, we’ve created an impartial list of 10 of the most reputable subscription billing platform suppliers currently in operation:
#1 | Stripe Billing
Stripe is a dynamic and efficient solution for managing your subscription billing needs. Their platform enables you to offer recurring payments across the globe, so you can capture more revenue directly through our superior recovery tools. Furthermore, they offer the flexibility to monetize your business as you see fit, providing support for both tiered pricing and metered billing. Get started without the hassle of excessive coding, as they offer flexible pre-built components such as the pricing table and customer portal. For those seeking a more tailored solution, Stripe APIs allow for full custom integration.
Pros:
- UI is very modern and easy to use
- Intuitive API
- Accepts multiple currencies
Cons:
- Involves more fees than some other services
- Slow payouts
- Limited functionality
Pricing:
| Interchange Plus | 2.9% + 30¢ per successful charge |
#2 | Zuora
Zuora is an innovative company that is reshaping the way businesses approach billing management. With Zuora Billing, companies can adapt quickly to new market trends, thanks to its ability to scale and automate billing processes efficiently. Zuora Billing offers access to over 50 unique pricing models, customizable discounts, and billing triggers, enabling businesses to unlock new avenues of growth.
Moreover, Zuora has integrated its pricing capabilities with Zuora CPQ for direct sales, APIs for consumer channels, and comprehensive portals for self-service and partner interactions. This ensures a harmonious customer experience across all sales platforms.
Adding to the ease, Zuora Billing also automates intricate tasks like prorations, provisioning orchestration, general ledger integration, and even connects to tax engines. It simultaneously supports over 40 different payment gateways, allowing companies to automate their billing operations at a scale never seen before.
Pros:
- Very easy to use
- Customizable templates
- Upscalable solutions
Cons:
- Limited annual revenue integration
- Steeper learning curve
- Complex backend UX
Pricing: *Call for a custom quote
#3 | sticky.io
sticky.io, is a top-notch API commerce platform that's blazing new trails in direct-to-consumer eCommerce. Renowned for empowering brands to effortlessly manage their subscription business models, sticky.io stands out for its expertise in subscription management and recurring billing. With the, you enjoy complete flexibility in terms of subscription offers, pricing, billing models, and payment methods.
sticky.io's advanced analytics give merchants an all-encompassing view of their customers' lifecycle. This means you get to make data-driven decisions, and ultimately optimize your customer acquisition, retention, and engagement strategies.
Pros:
- Friendly UI
- Excellent customer service
- Scalable integration
Cons:
- Slight learning curve
- Backend features can be complex
- Integration may require developer support
Pricing: *Contact for free quote
#4 | ProfitWell (by Paddle)
ProfitWell by Paddle is a sophisticated, data-driven solution that propels recurring revenue growth for subscription-based businesses.
In a market in which customer retention, monetization and analytical insights are pivotal, ProfitWell offers tools that streamline these processes through data science. Specifically, they offer revenue automation products that curtail cancellation rates, fine-tune pricing strategies, and provide free, accurate revenue reporting. By choosing ProfitWell, you're not only getting a subscription billing management solution, but an effective partner in driving your business's growth.
Pros:
- Seamless integration
- Top notch customer support
- Scalable pricing
Cons:
- Doesn’t track non-subscription revenue
- Nominally customizable
- Supports one platform per account
Pricing:
| Metrics | Retain | Recognized | Intelligent |
| $0/mo | *Variable, based on revenue | $1000/mo | Starting at $15k/mo |
#5 | Konnektive CRM
Unleash the potential of your eCommerce business with Konnektive CRM, a go-to platform for streamlined subscription billing management. Konnektive makes headless commerce a breeze, providing an intuitive user interface and centralized cloud-based CRM solution. With a whopping count of over 180+ gateway integrations and 400+ total integrations, Konnektive empowers your business to effortlessly manage transactions and orders.
You can optimize and automate your eCommerce processes with the power of Konnektive CRM and revel in the simplicity of managing your business on a single, comprehensive platform.
Pros:
- Easy to use
- Plentiful reporting options
- Scalable
Cons:
- Data entry is complex
- No automated reporting
- Limited real-time support
Pricing: *Contact for free quote
#6 | FastSpring
FastSpring, recognized as one of the most trustworthy subscription payments providers worldwide, offers an all-inclusive, user-friendly payment platform for businesses in the SaaS, software, and digital goods industries. The scope of FastSpring's global eCommerce platform provides all the crucial features your company needs to elevate sales, maintain efficiency, and captivate a worldwide audience. You can manage your subscription billing effortlessly and extend your business reach with FastSpring.
Pros:
- Excellent customer support
- Ideal for international and digital sales
- Integrates with most selling platforms
Cons:
- Dashboard usability could be improved
- No WooCommerce plugin
- Backend features can be complex
Pricing: *Not available publicly; contact for details
#7 | Recurly
Recurly is a trusted partner for thousands of innovative companies across various industries, including digital media, streaming, publishing, SaaS, education, consumer goods, and professional services. Offering an integrated, all-in-one platform, Recurly simplifies subscription billing management at scale, enabling teams to efficiently handle and enhance their subscriber lifecycles. By choosing Recurly, businesses can unlock potential for transformational growth through subscription-based models, effectively managing and optimizing their billing processes with unmatched ease.
Pros:
- Simple and easy to use API
- Excellent for large-scale subscription businesses
- Scalable solutions
Cons:
- Professional services are expensive
- Backend reporting is complex
- Not always quick to innovate
Pricing:
| Core Plan | Professional Plan | Elite Plan |
| $0/mo | *Contact for details | *Contact for details |
#8 | Chargebee
You can unleash the power of seamless subscription billing management with Chargebee. As a prominent recurring billing and subscription management platform, they cater to subscription businesses worldwide, supporting billing in over 100 currencies, across 150 countries. Their platform integrates with over 25 leading global payment gateways, including Stripe, Braintree, and PayPal.
The platform effortlessly automates recurring payment collection, invoicing, tax management, accounting, email notifications, SaaS Metrics, and customer management. They are driven to manage your essential workflows from lead to ledger with integrations that encompass Salesforce, Xero, Quickbooks, Avalara, and Slack, among others.
Pros:
- Customizable platform
- Scalable
- Easy to navigate
Cons:
- Limited customer portal
- Lengthy setup
- Somewhat steep learning curve for new users
Pricing:
| Launch | Rise | Scale | Enterprise |
| $0/mo | $249/mo | $549/mo | Custom |
#9 | Maxio (formerly Chargify)
Maxio operates as a dynamic financial operations platform specifically designed to tackle the unique financial hurdles of B2B SaaS. Offering a robust range of services, Maxio specializes in tasks like billing, subscription management, along with revenue and expense recognition. They are known for their capability to automate the entire subscription lifecycle, encompassing everything from billing and invoicing to ARR management and revenue recognition. What makes Maxio stand out is its unified system which allows customers to create their own customized reports that are sure to impress investors.
Pros:
- Easily integrates with Salesforce, Avalara, and QuickBooks
- Versatile reporting
- Support is speedy and responsive
Cons:
- Steep learning curve
- Autopay is tricky
- Clunky UI and UX
Pricing:
| Essentials | Growth | Scale |
| Starting at $599/mo | *Contact for details | *Contact for details |
#10 | Sage Intacct
Sage Intacct is the only financial management software preferred by AICPA, designed specifically to help finance professionals streamline their subscription billing management. Offering a suite of automation and control features around billing, accounting, and reporting, Sage Intacct aims to minimize errors, maintain audit-readiness, and drive business growth. Customers are backed by a steadfast “buy with confidence” guarantee, ensuring top-tier standards in uptime, security, data recovery, and more.
Pros:
- Easy to navigate UX
- Customizable platform
- Cloud-based
Cons:
- Complex reporting systems
- Steep learning curve
- No OCR automation
Pricing:
| Free Trial | *Contact for details |
#11 | Zoho Subscriptions
Discover the power of seamless subscription management with Zoho Subscriptions. Designed as a comprehensive solution for businesses, Zoho Subscriptions provides automated subscription management and recurring billing, perfect for SaaS and membership-based businesses. Gain total control over your customer's life cycle - from signup to every recurring payment. Simplify your billing and enhance your customer engagement with this elegant recurring billing and subscription management software.
Pros:
- Broad catalog of features
- Pay-as-you-go pricing compatible
- Affordable and scalable
Cons:
- File syncing is occasionally spotty
- Complex workflows
- Backend functionality needs improvement
Pricing:
| Free Edition | Basic Edition | Standard Edition | Professional Edition |
| $0/mo– billed annually | $49/mo– billed annually | $99/mo– billed annually | $249/mo– billed annually |
#12 | Braintree (by PayPal)
Braintree, a proud subsidiary of PayPal, serves as a global powerhouse in payment solutions. Designed with developers in mind, Braintree offers elegant, user-friendly tools, ensuring a seamless integration for businesses of all sizes.
Their platform is geared to serve merchants across the globe, spanning over 45 countries and facilitating payments in over 130 currencies. Recognised for their exceptional, white-glove support, innovative concepts, and straightforward processes, Braintree is not just a payments company. It is a strategic partner every merchant deserves. With Braintree, the complexities of subscription billing management become a thing of the past.
Pros:
- Accepts a wide range of currencies
- Good for consolidating multiple payment methods through on processor
- Staunch PCI compliance
Cons:
- Analytics and reporting are clunky
- Customer service is not always consistent
- Little to no support for chargeback management
Pricing:
| Interchange Plus | 2.9% + 30¢ per successful charge |
Risks Inherent to Subscription Billing
Sure, subscription billing can be profitable and convenient, providing a reliable stream of monthly revenue. At the same time, there are a few potential downsides to consider:
Customer Churn
Billing Errors
Security & Compliance Risks
Chargebacks
Subscription billing can be great for dependable, recurring revenue, but it’s not without its risks. That’s why you need a professional partner to help you identify and prevent the types of chargebacks that even the best billing platforms are susceptible to.
Chargebacks911® — the industry’s leading experts in chargeback management and mitigation — offers innovative technologies and highly-customizable strategies designed to help you detect and resolve issues before they turn to chargebacks. Contact us today to learn more.
FAQs
What is a subscription billing platform?
A subscription billing platform is a suite of tools specifically designed to facilitate the subscription-billing process. It will also make it easier to share data with other business software.
What is the subscription billing method?
Subscription billing is a payment model where customers agree to be charged for products or services repeatedly (at predefined intervals) for goods or services that are automatically delivered.
What is recurring billing software?
A tool used by many subscription-based businesses to streamline the management of recurring invoices, payments, and deliveries.
How do I bill a client for a subscription?
Most companies with a subscription-based business model use some type of automated software that charges a client’s credit card or bank account at agreed upon intervals. The initial setup and payment will typically be handled manually, but the recurring billing happens automatically through the software.
