Online payment processing does not complete in a single step rather the process is quite time-taking and complicated. And when it comes to payment processing for SaaS subscription businesses, this complexity doubles up. And to deal with payment-related complexities, SaaS businesses need payment gateways.
Why SaaS Companies Need Payment Gateways
Businesses need payment gateways because they offer online payment security. Following are some of the benefits of opting for payment gateways:
- They keep the customer account information secure.
- They speed up the payment processing.
- Multiple payment gateways minimize the chances of payment failures.
- You can enjoy customer satisfaction when you streamline the customer checkout.
- You can maximize the checkout experience.
Now that we know that payment gateways are important for secure online payment processing, you need to know about the best payment gateway that you can opt for. Thinking about Worldpay vs Stripe? So, here were are to help you compare these two.
WorldPay Payment Gateway
The payment gateways are given scores based on customer or user satisfaction. And the way to satisfy recurring customers and users is to offer them the best customer experience. And payment processing experience is an important part of it. When it comes to online payments, customers want to get it done as quickly as possible.
Payment gateways like WorldPay make it possible to offer your customers the best payment experience. The customer pays, and he pays securely. And that’s the most important thing that a customer looks for. So, if you are confused about the Stripe Vs WorldPay debate, then WorldPay scored 8.8 when it came to customer satisfaction. So, you can consider this option.
Stripe Payment Gateway
Stripe is another renowned payment gateway that SaaS businesses can opt for. The integration of payment gateways like Stripe can increase the outreach of SaaS businesses. However, Stripe secured a score of 9.6 when it comes to customer satisfaction. If you dream of increasing your SaaS business outreach and want to facilitate international customers, then you need Stripe.
So, you can be at ease when it is about Stripe Vs WorldPay UK because both of these payment gateways are good for online payment processing.
Which Payment Gateway for Your SaaS Business?
Now, you will be thinking that when both the payment gateways are good enough, then which one do you need to choose? Well! That will depend on your business. Also, the payment gateways for which you opt will also depend on the setup. If you are an established SaaS business, you will need multiple payment gateways. Why? Because if one gateway is down, then the other one is there functioning fine to process the payment. And that’s how you can minimize payment failure and the involuntary churn rate.
However, when it comes to startups or entrepreneurs, they can go for one or two gateways because their business need requires only one or two payment gateways. So, you can either go for WorldPay vs Stripe in UK, but the selection of the payment gateway will depend on your business need and its size.
In the digital arena, the importance of payment gateways is undeniable. You cannot think of online payment processing for SaaS businesses when you are not having any payment gateways. Payment gateways ensure customer satisfaction, they increase the outreach of the SaaS business and streamline the exit of customers. You need to understand that in the SaaS business world, the satisfaction of customers is important because you need customers to come back and make the purchase. Not only that but you also look for cross-selling and upsell opportunities. So, in order to make sure that the customers come back, you need to integrate not just one but multiple payment gateways. In this blog, we have already solved the puzzle of WorldPay vs stripe in UK. It is hoped that you get the right payment gateway for your SaaS business.