What is the best online software for setting up recurring billing for your product or service? Name only one and explain why it’s the best.
The following answers are provided by the Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.
1. Braintree
Braintree’s application programming interface is second to none. You can customize the payment settings to your specific needs, and implementation is a breeze.
2. Stripe
Stripe is dead simple and easy to implement. You shouldn’t be spending time setting up basic actions like charging credit cards when you’re trying to change the world.
– Danny Boice, Speek
3. Recurly
Recurly is a truly simple, automated billing solution. The best part is that the service proactively warns when a customer’s card is expiring. By providing a customer-friendly solution, Recurly will help you increase your retention rate significantly.
– Aaron Schwartz, Modify Watches
4. Chargify
Chargify is a secure website which allows you to offer your customers multiple payment options. There’s no software to download because all of your recurring billing is managed through its website. Plans start as low as $65 per month, and it is specifically designed to handle recurring billing.
– Andrew Schrage, Money Crashers Personal Finance
5. Bill.com
We were originally attracted to Bill.com because of its innovative bill-pay process. It has since expanded its service to include recurring billing. We like that it’s not simply putting old accounting (processes) into the cloud; instead, it focuses on the end result that entrepreneurs try to achieve and literally breaks down everything that’s unnecessary in the process.