Accepting payments online is complicated, especially for companies selling digital goods and services. Because of the complicated nature, it seems like every day there is a new startup that is trying to revolutionize the industry with a new payment method, or billing solution to make accepting traditional payments less complex. Because of this, we are talking to more and more companies that are confused or that have been burned by choosing the wrong billing system.
Background
Let’s talk a little about what it takes to process payments online. The graphic below shows the major components necessary for a company to manage their customer’s billing plans, allow them access to the service, store their payment information and bill them on a regular basis through subscriptions or one-time purchases.
