12 Smart Ways Your Company Could be Using Stripe
Accepting payments online has gotten A LOT easier over the past few years.
With just a few lines of code, anyone can start accepting payments via their app or website in minutes.
There are many options available, however migrating between payment processors can be incredibly painful—so it’s important to choose the right one early on.
This post will present a few reasons why Stripe is a great choice, particularly for companies who have some in-house development ability (if you’re outsourcing development, there are more user-friendly options like Recurly). That said, becoming a Stripe power-user doesn’t require as much code as you would think—thanks to a game-changing feature called Stripe Connect.
Stripe Connect allows secure and seamless sharing of payment data with 3rd party services. This has unlocked limitless potential for the Stripe ecosystem, as anyone can now build support tools on the Stripe platform.
In Stripe’s own words:
“Since we can’t tackle every conceivable use-case ourselves, we want to encourage an ecosystem where anyone can build applications that leverage Stripe data.”
To further support this ecosystem, in 2016 Stripe launched a new directory that positions itself as much more than a payments company. They are now a platform for a wide array of business services.
They call the directory Works with Stripe, and it already features over 300 apps that integrate with Stripe.
By aiding in the discovery of these 3rd party services, Stripe encourages more participation and growth in the ecosystem. And the more value these 3rd parties provide, the more compelling Stripe becomes as the best choice among payment processors that can’t merely compete on price.
With so many apps already built on Stripe, and many more being added each day, there is no way to quickly cover them all.
Here are just a few really good ones, brought to you by folks who build for the Stripe platform everyday.
Note: Churn Buster is a product we have built on the Stripe platform, to help high-growth SaaS companies manage credit card declines with better email campaigns. We use several of the following apps, and several of them use Churn Buster. See how this works? ;)
“PROFESSIONAL STRIPE ANALYTICS FOR SAAS BUSINESSES”
Here at Churn Buster, we choose to use FirstOfficer over the competition because it’s reliable, and gives us the metrics we actually need. No vanity metrics to be found here!
- Track important SaaS financial metrics like MRR growth and churn – minus any behavioral (i.e. in-app usage) metrics.
- Founder has BBA in accounting. Metrics are accurate and compatible with bookkeeping. High resolution: drill down into cohorts or further into individual customers.
“COLLECT ALL OF YOUR CUSTOMER DATA AND SEND IT ANYWHERE.”
Collect data from your web, mobile, server, and cloud apps, and send customer data to your third-party tools and apps so you can visualize it however you like.
- Single integration to pipe data wherever you want, so marketing can try out new tools without heavy demands on dev team
- Measure events in analytics tools, trigger marketing automation workflows and more from a single events base.
- Over 180 integrations empower your team to use their favorite tools to personalize campaigns, analyze product usage, and more. Powerful and reliable with a solid UI and easy debugging.
“A MESSAGING APP FOR TEAMS…”
- There are some really cool ways to pipe information into Slack.
- This saves your dev team from having to set up custom alerts of important events like new customers signing up, or payments failing.
- We personally use Slack to show new signups (via their Stripe integration) so that our account managers can take action onboarding new customers.
You could also:
- Create a channel for payment events like Subscription Created, Card Updated, Subscription Canceled
- Monitor the payment activity of your business in real-time
- Color code and troubleshoot failed payments as they occur
“CONNECT YOUR APPS AND AUTOMATE YOUR WORKFLOWS”
- With so many integration options this combo is limited only by your imagination
- Automate workflows based on payment-related events
- Build your own basic dunning process if you aren’t ready for something more advanced (be sure to follow these tips.)
“STOP MANUALLY ENTERING PAYMENT DATA INTO YOUR ACCOUNTING TOOLS”
- Reconcile payments transfers from Stripe into Quickbooks Online & Xero.
- Payment events such as charges, fees, and refunds are synced in real-time to QB Online.
- Sales receipts created when charges occur
- Match your accounts in one click
- Real-time sync
- Deposits include Refund, Fees and Adjustments
- No technical knowledge needed
“THE EASY WAY TO START A SUBSCRIPTION BUSINESS WEBSITE”
- All-in-one solution to handle billing, web storefront, and order management
- Free setup, get started in minutes
- No coding required
[Author’s Note: I founded a subscription box company called Manpacks in 2009, and there was NOTHING like this. Incredible to see how easy these guys make starting up.]
“CREATE, MANAGE AND GROW YOUR OWN AFFILIATE PROGRAM”
- Launch a custom affiliate program
- Easily and securely track sales so you can credit the proper affiliate
- Zero coding required so you can focus on building relationships
“ANALYTICS AS A SERVICE”
- Send your Stripe data to Keen and visualize it in any number of ways.
- API-based backend built for developers
- Build analytics applications and visualizations at scale
- Stay focused on your core product while outsourcing analytics and insights
- Mash together data from your app + other sources, with Stripe payment data easily
“COMMUNICATING WITH CUSTOMERS SHOULDN’T BE THIS HARD”
- Access payment history and subscription status right from the messaging app
- Create in-app notifications for delinquent accounts
- Identify high value customers
“SAVE HOURS AND ELIMINATE YOUR SALES TAX HEADACHES”
- Accurate sales tax calculations at checkout
- Easy auto-filing of sales tax returns so you won’t miss due dates
- Great for eCommerce, connecting with your marketplace or cart
“PAYMENTS MADE SIMPLE”
- Start accepting subscription payments online in minutes
- Easy subscription management
- Stripe Checkout JS is simple, but it still requires backend code. Plasso helps you get around that requirement, enabling code-free payments and subscriptions
“RESOLVING FAILED PAYMENTS AT SCALE HAS NEVER BEEN EASIER”
Sure, it’s a shameless plug. But seriously, when it comes to failed payments, you won’t find a team more committed to reducing your churn rate. And with the ease of Stripe’s integration platform you’ll be up and running in minutes.
- Automate handling of past-due subscription payments
- Maximize revenue with campaigns optimized for fewer, better emails
- Monitor payment activity and campaign performance
- A pro solution that’s built to scale—securely and reliably