Stripe has established itself as the go-to player in the payment processing landscape, particularly for B2B SaaS and tech startups, and for good reason. As a founder, you most likely don't even think about using a product other than Stripe, it's become the most popular payment gateway by default. And there's good reason for this: Stripe offers a solid array of payment features alongside its core gateway that makes it super convenient to just use everything that Stripe has to offer out of the box.

But like any "default" choice, it will probably work best for the masses, not the edge cases, which means that if you're doing things even a little bit differently, you may not be the best fit for their payment gateway product.

See also: How to implement usage-based billing in Stripe

Universally Accepted
Stripe is a household name for a lot of companies in the US, so having them as part of your customer's checkout experience isn't going to create a bunch of friction or raise eyebrows.

Developer-Friendly Integration
Stripe is renowned for its robust APIs and extensive developer tools that allow for seamless integration into various platforms and applications. This developer-friendly approach ensures that SaaS companies can easily embed Stripe's functionalities into their systems, enabling smooth payment processes and enhancing the overall user experience.

(Almost) Global Payments and Currency Support
Stripe's payment processing supports a wide array of currencies and payment methods, which makes it an excellent option for SaaS companies looking to expand their operations internationally. This global reach facilitates easier transactions across borders, helping SaaS businesses to grow their customer base worldwide without the complexities often associated with international payments.

Cost Considerations
While Stripe offers a whole suite of features, these all typically come at an added cost. Stripe's fee structure includes charges for credit card processing, international payments, and currency conversions - but also for tax calculation, signup links, and a whole lot of other features. For example, if you need to conduct credit card payments but also need to offer subscription plans or need to monitor customer data and usage, this probably will end up costing you more.

Stripe charges around 2.9%+30 cents on its core Payments service, but you'll also be charged for using signup links, invoicing, billing, and other features.  This can quickly snowball into upwards of 5% when all is said and done, making Stripe an unreasonably expensive choice if you're planning to do much beyond just use its payment processing solution.

Read next: Stripe Billing Alternatives for your SaaS Startup

When you start to consider billing systems (this is a whole separate topic which we've written about extensively), the main thing you'll want to look out for is how complex your pricing model is; are you charging multiple pricing plans or just a basic recurring fee? Stripe Payments isn't a subscription management platform; it's not the core business, so its services are somewhat limited in that regard, and many SaaS startups choose to implement a separate subscription management system in addition to using Stripe for their payments.

Service Availability Limitations
Despite its extensive global reach, Stripe is not available in every country. Notably, regions like South Korea and several Latin American countries are not or just very pooly supported, which can be a significant limitation for SaaS companies targeting these markets. This lack of availability necessitates finding alternative payment solutions for customers in these areas, adding complexity to payment management. The more you rely on Stripe for features such as Stripe payment links, the more replacement tools you'll have to find in these particular countries to sell the way you sell in your core markets.

Mixed Reviews on Customer Support
Some users have reported issues in the quality of customer support provided by Stripe, particularly in regions outside of its primary markets like the United States; those include issues with KYC, customers suddenly having their account frozen, and more. All of this can lead to a poor CX, which you don't want.

Efficient customer support is obviously crucial to maintaining trust among customers, and your customer retention and loyalty. You definitely don't want to be facing a churn issue or earning yourself a bad reputation especially if you are just getting started in a new region. This could negatively impact your business growth and lead to involuntary churn.

For cases where Stripe is just not quite the right fit as a payment gateway, there are several others you can consider, including some that are more geared towards SaaS businesses.

Adyen
Adyen is a global payment platform that offers a comprehensive suite of payment processing, gateway, and acquiring services. Known for its strong focus on technology, Adyen provides advanced solutions for payment optimization, fraud protection, and seamless integration with existing systems. It supports a wide range of local payment methods, enhancing the customer experience across different regions.

Strengths:

Braintree
Braintree, a division of PayPal, provides robust payment gateway solutions that are particularly well-suited for SaaS platforms. It supports a variety of payment methods, including credit cards, PayPal, Venmo, and digital wallets like Apple Pay and Google Pay, offering flexibility for global users.

Strengths:

Here are a few payment gateways that are specifically geared towards the needs of local and regional markets around the world, which can be a good alternative for US- and Western-focused payment providers that may lack some of those local nuances.

Razorpay - India
Razorpay is a leading payment gateway in India, designed to cater specifically to the needs of Indian businesses by supporting all major local payment methods, including net banking, UPI, and wallets.

Strengths:

TAP Payments - MENA
TAP Payments MENA caters specifically to businesses in the Middle East and North Africa, offering extensive support for local payment methods and currencies.

Strengths:

Hyperpay - MENA
Hyperpay is known for its robust support for multiple local currencies and payment methods, making it a preferred choice for businesses in the Middle East.

Strengths:

PayTabs - MENTA
PayTabs is another payment solutions provider based in the Middle East, designed to facilitate seamless online payments for e-commerce and SaaS platforms within the region.

Strengths:

There's a few reasons why you might want to consider using multiple payment gateways at once as a SaaS business -- obviously we just alluded to one main shortcoming that many providers have, which is their regional access. But that's not the whole equation.

Advantages of Using Multiple Payment Gateways

Localized Payment Methods
Different regions have distinct payment preferences and infrastructures. By integrating local payment gateways, you can offer customers the payment methods they trust and prefer, which can significantly boost conversion rates and user satisfaction.

Increased Reliability and Uptime
‍Relying on a single payment gateway poses a risk; if the gateway experiences downtime or disruptions, it can affect your entire operation. Having multiple gateways ensures that you have a backup, maintaining service continuity for your customers.

Enhanced Negotiation Leverage
‍When you use multiple providers, you can leverage competitive pricing, reducing transaction fees and service costs. This can also keep gateway providers incentivized to offer better service and innovation to retain your business.

Compliance and Risk Management
Different countries have varied regulations regarding data handling, privacy, and financial transactions. Using local gateways can help ensure compliance with these regulations, reducing legal risks and simplifying the management of financial transactions.

For SaaS startups navigating the complexities of integrating multiple payment gateways and managing diverse pricing models, tools like Wingback can really make all the difference. Here's why:

Regardless of what particular payment solution(s) you choose, you'll want to look for these core benefits in any SaaS billing system you plan to integrate with it.

Choosing the right payment gateway (and implementing an effective SaaS billing system to go with it) aren't just about facilitating a sale. These choices directly impact your ability to scale, enter new markets, and even your retention.

For startups, the easiest option is by far to use Stripe -- it is, after all, one of the best payment gateways for many US-based companies, and a no-brainer for many of us. Startups choose the path of least resistance, which makes a lot of sense in the short term. Stripe provides a seamless payment experience for a lot of the basic use cases you'll experience in the early days as a SaaS business owner.

But, in the long-term (or when you are based in a region that Stripe does not support), thinking through alternatives can be worthwhile, especially if you have plans to scale to other markets/regions or are processing major volumes of transactions that could jeopardize uptime.