International SaaS Payments: Options for Your Business

Launching a SaaS company in the international market requires solving a range of issues, and one of them is receiving payment. There are a number of services that allow you to organize payment reception. We tell you what they offer, what features of international SaaS business should be taken into account and how to receive payment from abroad.  

SaaS Services: What You Need to Know  

SaaS stands for «Software as a Service». The core concept is to provide an opportunity to use the software installed on the vendor's server (SaaS service) in online mode.   

To work with SaaS software, you do not need to download it to your device, worry about timely updates or maintenance of the application. Correct program operation, data security and support are ensured by the service provider.  

As a rule, SaaS platforms work in a subscription format. The user pays a fee every month (in some cases, six months, a year or another period) and gets access to the program for the paid period.   

This scheme of work allows businesses to effectively manage resources without wasting them on unnecessary programs. In addition, SaaS simplifies the scaling of the business, allowing to change the tariff if necessary.  

Remote access and centralized data storage allows users to access the software from anywhere in the world.   

In this case, it is possible for several employees to work together on a single file. This makes it easier to conduct business remotely, which is also valued by many companies.  

SaaS services are relevant for almost any business: from small startups to large corporations. SaaS products range from streaming services designed for private users (such as Netflix) to business software for customer service, project management, analytics, and other processes.  

SaaS Services for Businesses  

There are different types of SaaS solutions for businesses on the market. The main varieties include:  

• CRM. Used for working with customer data, as well as interacting with users — for example, to manage a loyalty program or marketing campaign. 
  
  
• ERP. Software for managing enterprise resources: finance, inventory, production, etc. It is usually an all-in-one solution that integrates CRM, HR, accounting and other elements. 
  
  
• Project Management (PM/PMS). A tool for planning production processes: forming stages and subtasks, defining deadlines, assigning responsibility for individual tasks, etc. 
  
  
• HRM (HRI). HR management solution: search and screening of candidates, hiring, performance evaluation and tracking of working hours, payroll and benefits. 
  
  
• Business analytics. SaaS product for performance evaluation: collecting data for individual periods and the entire history of the company, analyzing the information, making decisions based on the obtained data. 
  
  
  
• Communications management. Solutions for interaction with clients: communication by phone and e-mail, work via online chats, maintenance of the company's social networks. 
  
  
• Accounting systems (AS). Offer templates for automating workflow and other financial processes — such as invoicing and order management. Many products support integration with business intelligence. 
  
  
• E-commerce solutions. The e-commerce services allow you to launch sales online: create an online store, develop an online storefront, manage sales and orders, launch marketing campaigns, etc. 

Advantages and Disadvantages of SaaS  

SaaS has several pros for businesses:  

• Flexibility. Access to software is not tied to a specific device or geographic location. If necessary, a company can quickly connect a new program or cancel a service subscription. 
  
  
• Low costs. Working through SaaS services is more cost-effective than building your own system, purchasing new hardware, maintaining hardware, maintenance, etc.
  
  
• Fast deployment. Businesses do not need to develop software themselves or create and maintain a local system — it is enough to buy a subscription to the required service.
  
  
• Updates. The service provider provides the client with access to the latest version of the software — the user does not need to worry about installing updates.
  
  
• Convenience. SaaS services allow you to easily access the necessary software, quickly scale if necessary and do not waste resources on maintaining applications that are not required by the business at the moment.

However, SaaS business has a few disadvantages as well:  

• Dependence on the provider. All data is stored at the service provider, and working with the software requires uninterrupted network connection and stable operation of the SaaS service. 
  
  
• Security. While reliable SaaS services offer a high level of information security, they are not recommended for storing sensitive data. 

How Сan a SaaS Business Accept International Payments?  

There is a range of payment processing services that will be suitable for an international SaaS company. Let's take a look at some popular options.  

Stripe  

Stripe is an online payment processing service that provides services to e-commerce companies. The system offers wide opportunities for customization for the needs of any business — including SaaS service. Developer tools give the opportunity to customize Stripe in detail, and the wide functionality provides convenient financial management.  

It should be taken into account that programming skills will be required to fully utilize the system. 

PayPal  

PayPal is a popular electronic wallet. Businesses can use it to accept payments — both via checkout and via a button for quick payment. The system offers simple management and interface, which is convenient for novice entrepreneurs, and the wallet's huge user base ensures customer trust.  

The disadvantage of PayPal is its relatively limited functionality. 

Square  

Square is another payment system for business. Although the functionality is mainly designed for cross-platform stores, the service is also suitable for SaaS: payment can be made in a variety of ways (including installments), there is a convenient transaction tracking system and its own hosting. 

Crypto processing  

Accepting payments in cryptocurrency is an alternative payment method that more and more international companies are resorting to. Cryptocurrency transactions are not affected by sanctions, which simplifies settlements with foreign clients.  

The cryptocurrency payment gateway makes it possible not only to automatically confirm orders, but also to track payments, analyze statistics, upload data for accounting and perform other necessary operations. At the same time, the client will not need to manually convert the order amount or contact a manager to get access to the paid service.  

Accepting Cryptocurrency Payments With CryptoCloud  

CryptoCloud is a service for processing crypto payments. It allows you to receive payment from customers from all over the world: checkout is available in several languages.  

The service can be integrated into a website (there is a ready-made API, plugins for popular CMS platforms and an HTML widget) or accept payment via payment links.   

An entrepreneur can choose the payment side of the commission, customize payment accuracy, activate AML transaction checks, and enable automatic conversion to USDT to protect against volatility. The payment page can be customized by adding a company logo.  

In the personal account, the user can track current transactions, view analytics, provide access to company employees, and withdraw funds to a personal wallet. To register on the site, only an e-mail is needed: there is no need to undergo verification.  

Accepting Payment for SaaS Business  

SaaS is a promising business direction. Many companies use such services due to their convenience, accessibility and wide opportunities. One of the issues that will need to be resolved at the start is the acceptance of payments.  

After the introduction of sanctions, receiving payments from foreign clients became more difficult for some companies: many payment systems stopped working with the Russian Federation. One solution to the problem is crypto processing. CryptoCloud allows you to work with clients all over the world and offers a number of convenient functions for SaaS business owners.