Best Payment Management Software in 2023
Best payment management software being used in the market are Zoho Books, Tally Prime, Horizon ERP, and more. These system tools take care of all the transactions related to cash and payments on a regular basis with complete automation.
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List of 20 Best Payment Management Software
Category Champions | 2023
Online Accounting Software for Growing Businesses
Simple, easy-to-use business accounting system to help you manage your accounts online. You can download 14 days free trial of Zoho books. Zoho Books is an easy-to-use, online accounting software for small businesses to manage their finances and stay on top of their cash flow. Read Zoho Books Reviews
Starting Price: Starting Price: $10.4 Organisation/Month Billed Annually
Recent Review
"Zoho Bookings Schedule Good Timming" - JADAV PRAVIN
Emergents | 2023
Stripe is one of the best payment software, which helps you run an internet business. It provides you most powerful and flexible tools for Internet commerce. Stripe’s designed API’s helps you to create the best product for your users while creating a subscription service, an on-demand marketplace, an e-commerce store. Read Stripe Reviews
Starting Price: Available on Request
Recent Review
"I found that the software is easy to use" - T Just
Veem is a modern global bank-to-bank payments service that provides businesses with the easiest way to pay and get paid. It lets you track your payments with its real-time payment tracker; thus, ensuring transparency. With Veem’s robust encryption and fraud prevention technology, you can set a new standard for international and domestic money transfers. Read Veem Reviews
Starting Price: Available on Request
Cloud Accounting Software Making Billing Painless
This bookkeeping software makes your accounting tasks easy, fast and secure. Start sending invoices, tracking time, and capturing expenses in minutes. We uphold a longstanding tradition of providing extraordinary customer service and building a product that helps save you time because we know you went into business to pursue your passion and serve your customers - not to learn to account. Read FreshBooks Reviews
Starting Price: Starting Price: $15.00 Per Month
Recent Review
"FreshBooks: The Simple and Intuitive Accounting Solution for Small Businesses" - Ayoub El Fahim
Category Champions | 2023
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TallyPrime is one of the leading business management solutions in the world, known for its accounting, stock control, reporting and payroll features. With TallyPrime, you don’t need to pay extra for additional features, which makes it affordable for small and medium businesses. It is used by 2 million businesses worldwide. Read TallyPrime Reviews
Starting Price: Available on Request
Recent Review
"Very best softare in my view but some measure have to be taken in order make it perfect ." - Arpit mishra
| Pros | Cons |
|---|---|
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It's simple to operate on Tally and it's effective on daily basis use. |
my experience of over two years, I didn't dislike anything. |
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It helps you manage accounting & payroll. |
It is Not User-Friendly. |
Vyapar is a GST-compatible invoicing and accounting solution for small businesses. You can use it to create GST bills, fulfill orders, generate GSTR reports, track payments/expenses, and manage your inventory. Besides, you can use it to customize invoices and collect payments online. Read Vyapar Reviews
Starting Price: Starting Price: $39.99 Device/Year
Recent Review
"Review for Vyapar" - Junaid Ahmad
| Pros | Cons |
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Some additional pros of using accounting software for small businesses include:It can automate repetitive tasks such as invoicing, payments, and reconciling bank statements.It can provide real-time visibility into financial performance, allowing you to make more informed business decisions.It can help you stay compliant with tax laws and regulations by generating the necessary reports and forms.It can also integrate with other software such as point-of-sale systems, making it easy to track inventory and manage customer information.It can save time and increase efficiency by streamlining financial processes and reducing the need for manual data entry. |
It has a learning curve and the initial learning process may take some time, but this may not be an issue for experienced accountants |
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Experts say |
Skills Development |
We all are familiar with the present buzz-word amazon Pay app. It has easy modules which help you add money, view your receipts and payment statement, add & send gift cards, easily recharge mobile, and so on. Read Amazon Pay Reviews
Starting Price: Available on Request
Recent Review
"Amazon Pay" - Ngala Emmanuel Shey (Jason
| Pros | Cons |
|---|---|
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The app is very easy and I love the design (layouts, textures, fonts, images). I use it to purchase gift cards which I send to my loved ones on different occasions. It's cost-saving and very simple when connected to my amazon account. I can also shop at Walmart using this same app. It's awesome |
Contacting amazon pay customer services is a waste of time, they'll never reply or it might even take millennials before they do. It's not secure, If you ask me as I can't get support when I need some. |
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There are many things that i like about the amazon pay and hassle-free payments is one of the best part of it. It make amazon purchases quick. From last 2 years i have been able to pay various utility bills over it. And from last one year it's been used as a third party payment wallet over different merchants and razorpay is one of the place where i use it most. Pay later services with zero cost payment upto one month is very helpful. And one more best past is cashback on almost every single transaction |
I don't have anything to dislike about the tool. It's been great in all the aspects from customer support to rvery other aspect |
Paypal will prove to be your digital wallet with the best built-in features. It comes with 180-day refund window, free return shipping, top-notch protection to your financial details, one-touch login, and so on. Read Paypal Reviews
Starting Price: Starting Price: $30.0 month
Recent Review
"My experience in Paypal" - HARISHITH Shattarje
| Pros | Cons |
|---|---|
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user friendly powerful |
none |
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We can easily create and pay invoices from Paypal with a few clicks. And it also supports friends and family payments which saves transaction fees and never getting a hold of our payment. |
Paypal has sent only option for some countries which didn't allow to receive funds on Paypal and at that time we need to look for another appropriate payment methods. |
Category Champions | 2023
GST Billing software with Inventory & Accounts
Simple Billing software with complete inventory and accounts modules. It's fast, reliable and easy to maintain. Ideal for businesses that have a large number of invoices and deals in 100's of SKU's. Typically used by distributors, retailers and small manufacturers. Read Horizon ERP Reviews
Starting Price: Starting Price: $191.75 One Time
| Pros | Cons |
|---|---|
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no impressive |
avoid fake selling |
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No beneficial,worst software i have ever seen in my life. |
each and every part of horizon should improve. |
Accept payments for your business through 120+ domestic and international payment modes with industry-leading success rate, at the lowest fee. Get started easily without any set up cost. Read Cashfree Payment Gateway Reviews
Starting Price: Starting Price: $0.02 % per transaction
Recent Review
"Online Payment Gateway " - Spay Live
| Pros | Cons |
|---|---|
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Online payment gateways are important for all your online transactions. Spay Live also provides best online payment services, at well as other IT services. To know more you can visit us at https://spay.live/ |
Non |
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none |
Worst Payment Gateway, Bordline Scam. My Cashree account has been active for around a year but we were using Razorpay and we decided to added Cashfree as test for 10 days and we recieved 2 orders on Cashfree within first 3 days and now they are telling me to share the documents which i already submitted at time of activation and now i keep asking list of accepted documents to submit and instead of answering that they are telling i should wait for 48 hours to get a call from my account manager.SCAM be careful |
Category Champions | 2023
Sage offers a complete desktop accounting software that helps you spend less time managing your accounts and more time developing your business. With its easy to use interface, Sage 50cloud Accounting has aided small businesses and entrepreneurs to operate efficiently and effectively. Special Offer: 40% off Sage 50cloud annual subscriptions | Coupon Code: D-1929-0020. Read Sage 50cloud Reviews
Starting Price: Starting Price: $50.58 Per Month
Recent Review
"Excellent service" - Lynne Smit
| Pros | Cons |
|---|---|
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It is easy to use. |
It should accommodate other languages like Afrikaans. |
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User Interface and ease of usage |
Stable version of applications |
Category Champions | 2023
Bill presentment and online payment collections
Swipe invoicing software is an online cloud-based solution. Using Swipez you can collect payments faster, organize company expenses, automate vendor payouts & perform e-invoicing GST filing. Automate your company billing using Swipez free billing software. Read Swipez Billing Reviews
Starting Price: Available on Request
Recent Review
"Amazing" - Rutuparna Behera
| Pros | Cons |
|---|---|
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Mostly it's performance part..but need to improve ui part for easy access |
Ui part need to be. Improved for easy accessibility |
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The rates given by Swipez in comparison to the features that were offered was really beneficial. Customer support was constantly provided to me and my customers as well. Easy transition to input all my database into Swipez. |
Too many functionalities in the software. |
Category Champions | 2023
Sales and CRM automation - Mobile first platform
Kapture CRM is a user-friendly, mobile-first and fully-customizable CRM platform which enables you to grow your business exponentially by automating all your sales, marketing, customer service, distribution and collections processes effortlessly. Read Kapture CRM Reviews
Starting Price: Starting Price: $20.82 User/Month/Billed Annually
Recent Review
"Most Customizable CRM" - Sunil Kumar
| Pros | Cons |
|---|---|
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Custom workflows |
Handling chats and chatbots |
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Easy to use |
Some time feel boring |
Razorpay is the most integrated and world-class payment gateway. Its futuristic features handle end to end the transaction in a matter of minutes. An intuitive payment gateway software to streamline transactions. Read Razorpay Reviews
Starting Price: Starting Price: $0.03 User/Month
Recent Review
"Best Payment Gateway In Market " - RADHE STORE
| Pros | Cons |
|---|---|
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Everything is pros nothing is cons |
Nothing. |
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The most impressive feature for us is the variety of payment options it provides ranging from 10+ wallets to pay later options with traditional payment options like debit and credit cards. Now we can make settlement anytime with just a click with a nominal fee of 0.15% which is a great step by Razorpay. I can create individual payment link when needed and we have integrated with various tools which enables us to receive payment via WhatsApp and use it on other websites too. |
One thing that hurts most is the fee, it doesn't charge a fee at the time of setup but charges fee on every transactions which is 2.4% with gst. I think this should be reduced to somewhere 1-1.5% max. |
Contenders | 2023
OmniChannel Point of Sale ecosystem with OmniPayment acceptance for businesses of all sizes. ePaisa offers tools like Inventory, VAS, Loyalty, Marketing, Analytics and more. Read ePaisa Reviews
Starting Price: Starting Price: $8.32 User/ Month
Recent Review
"ePaisa" - Anvesha Verma
| Pros | Cons |
|---|---|
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It offers multi language support. |
Nothing as such. |
Contenders | 2023
Construction & Real Estate system
Astral Construction and Real Estate System is a Platform to help them to manage all their organizational data on one platform, It provides them a one point solution for managing Projects, Payments, monitoring activities happening at the different level. Read Astral Construction & Real Estate ERP Reviews
Starting Price: Available on Request
Recent Review
"Best construction software" - Dharmendra Goratela
Category Champions | 2023
Bill.com is complete online-based accounting software for ACH payments, and send electronic invoices and payment reminders. It takes less time to solve the problem and unique content of the site attracts to users. Read Bill.com Reviews
Starting Price: Starting Price: $29 User/Month
Recent Review
"Pay bills using Bill.com" - Shreyas Bhuva
| Pros | Cons |
|---|---|
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To pay bills very quickly and to track vendor ledger very effectively and it automatically process many bills for user. |
It's taking much time to load perticular page. Old Bill.com interface was much good than new. |
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The software has a well-integrated operating system which handles all the accounting task with less supervision and it is its biggest advantage. You can easily sync with your organizational data with this software and increase your productivity. |
Highly constructive software. We are satisfied. |
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Nomisma is a cloud accounting software offers Bookkeeping, Payroll, Self-Assessment, Accounts Production and Corporation Tax, Company Secretarial, and Practice administration. Our system offers the most comprehensive solution to meet your compliance needs. Read Nomisma Reviews
Starting Price: Starting Price: $5 Per Month, Per Client
Recent Review
"Best platform for Accounting" - Sapna Pichanot
| Pros | Cons |
|---|---|
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Easy to access and use |
It has some issues few times but we have a great Nomisma support team who always ready to support and sort those issues quickly. |
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It helped me manage my business, allowing me to produce reports at the click of a button that I would normally have to ask my accountant for. Highly recommend. |
Nothing, it’s great and you can clearly see they’re investing a lot of money to improve it further |
Emergents | 2023
A Cloud ERP that's available on any devices anywhere and everytime seamlessly. Customers with multiple employees & department controls, multi Branches get immediate benefits with a AcTouch.com available at the cost of an installed base accounting Software. Save Money. Read AcTouch.com Reviews
Starting Price: Available on Request
Recent Review
"Hassle-free software at an affordable cost" - Nidhi Chavda
| Pros | Cons |
|---|---|
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It is the best software to manage end to end inventory management tasks. |
The AcTouch.com includes all the best features, I couldn’t find anything negative about the tool. |
SaarHR Payroll HRMS software directly integrated with biometric machine, A simple & fast web based solution available on cloud & premises. 26+ modules in Package, you can select any module specific to your needs. Available on Web,Android & iOS. Read SaarHR Reviews
Starting Price: Starting Price: $0.28 Employee/Month
Recent Review
"Most recommended to other" - Mr. Bhupender
| Pros | Cons |
|---|---|
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My work completely automated. And cost and time saving, that is the most impressive points. And his advanced featured dashboard . |
My requirement is full fill in his existing features. So not find any cons. |
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SaarHR is an extremely simple, easy to use platform that helps us to integrate all our payroll operations seamlessly. SaarHR empowers me to collaborate with my team seamlessly. Good product that gave me all the insights I needed into my team. Very much simplified employee on boarding and master management process, now my team can easily on-board new employees as compared to previous ERP environment. Previously at our company, for payslip generation there was separate tool now with SaarHR during payroll processing itself payslip gets generated which helps us to release payslip on salary release day. Expanded Pay-slip which has complete details of their Salary and the computation of Income tax, provides clear clarity and understanding of calculation / tax liability. Mobile app that empowers our employees to view payslips, apply for leave & much more on the go. All support staff from SaarHR are very polite, they respond positively for all queries reported to them. |
There is no linking between two companies so for transferred employees from one company to another, we have to create their master again. Inbuilt reports and our requirement differs so reports required lot of customization but for that SaarHR team responded well. |
Recent Review
Until 31st Mar 2023
What is meant by payment management software?
All organizations need to manage their payments in a systematic and organized manner. Companies are harnessing the power of automated solutions, such as payment management software, to streamline their operations. These are comprehensive platforms that help organizations simplify and automate recurring payment tasks. Payment management software allows merchants and online e-commerce companies to process payments from clients through clients by securely managing internet transactions.
Payment processing software facilitates payment through debit or credit cards by handling communication with the bank directly. The processor’s main job is to verify the authenticity of all details and authorize the payment. Once the payment management software verifies that the card is valid, the details are authentic, and the account has sufficient funds, the payment transaction is instantly carried out. It is a convenient way of ensuring that all payment-related activities are carried out seamlessly and that users are provided with a smooth experience. There are no endless delays in processing finances, and the entire process moves with agility.
Running a business without sophisticated and advanced payment process software is virtually impossible. It eliminates all kinds of human errors and drives efficiency that helps organizations stay on top of all merchant payment operations.
What are the different types of payment management software available in the market?
There are a number of payment management software available in the market. Businesses must understand their requirements and invest in the best one that they can afford. Here are some of the various types of payment processing software:
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Hosted Payment Gateway Systems: This type of payment management software is very helpful in taking a customer away from a website’s checkout page. After a user makes an order and clicks on ‘pay now’ option, they are redirected to a payment service provider page. Hosted payment gateway systems facilitate user detail entry, complete the entire payment transaction and then take customers back to the website page. This enables them to make further transactions or finish the payment by signing out or checking out.
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Self-Hosted Payment Gateway Software: This payment processing software asks customers for complete details at the organization’s website. After gathering the data, self-hosted payment processing software sends it to the payment gateway’s URL. The information may need to be in a specific format, and the process is completed.
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API Payment Gateways: API payment gateways are a popular option in payment management software. These solutions allow customers to enter their details and information directly on the merchant’s checkout page. It then processes payment requests using its API or HTTPS queries.
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Local Bank Integration Platforms: This payment processing software is similar to hosted payment gateway platforms. In these, the user is redirected to the payment gateway’s website, where they must fill in all payment information and details. Local bank integration platforms ensure the payment is conducted smoothly without any delays. The users are redirected to the main website and are given notifications along with the redirection.
There are many variants of payment processing software. Organizations should research all the features, scalability, and customization options before making the right decision for their business model.
Why do organizations in the current business environment heavily demand payment management software?
All kinds of business organizations need intelligent tools to help them make and dispense payments regularly. Today businesses are looking to integrate flexible and automated payment management software. Here are undoubtedly important reasons why companies highly demand payment processing software:
- Payment management software automates essential tasks such as invoicing, payment release, and notification alerts so that the workload of staff members is reduced.
- Customers are engaged due to responsive and smooth payment transactions. They do not need to worry about any technical glitches, and the payment occurs automatically.
- Payment processing software ensures that transactions are recorded, monitored, and structured through a single unified platform.
- Payment management systems also have custom in-built invoice templates for quotations and invoices. This speeds calculations and reduces any chances of manual error.
- Payment processing software has integrated databases that record all vital information and visual dashboards that display real-time metrics for better decision-making.
- Payment management software removes any confusion or doubts about an employee or client-related expense accounts. Managers can view individual expense accounts, make changes and approve or reject final payments.
- All the past payment records and transactions of clients are stored at a centralized location through payment management systems. This enhances complete visibility and facilitates better transparency in money-related matters.
Doubtless, the payment process software is an excellent asset for organizations. It will reap a quick return on investment and provide a holistic platform to manage business payments regularly.
What are the perks and drawbacks of using payment management software?
Organizations have now realized the immense potential of payment management software. There are various advantages or perks of utilizing payment processing solutions, such as:
- Complete Flexibility in Payment Operations: Payment management systems ensure that payments are accepted in all modes and forms. They provide that a business organization agrees with all major credit or debit cards. This leads to seamless operational efficiency and task flow management. Universal acceptance of all payment modes ensures clients' happiness and superior business performance.
- Faster Transaction Rate: Most modern payment management software facilitate electronic financial transactions. This makes it faster to reconcile, batch and release payments than manual cash-based systems. It is also possible to set timed releases of payments in an automated manner. A quicker transaction rate leads to higher productivity and output.
- Better Security: Payment management software ensures the complete security of financial transactions through secure integration. The system has in-built mechanisms to prevent unauthorized access and ensure that sensitive payment-related information remains secure. It contains any kind of fraudulent activities that could lead to loss of reputation or money.
- Lesser Operational Costs: Businesses always look for ways to save money and build profitability. Payment processing software lowers all operational costs through multiple terminal management. It facilitates various payment devices across workstations and reduces the dependency on staff members. This saves time and boosts revenues to the highest possible levels.
- Save Time And Increase Efficiency: The ability to save huge chunks of time by automating manual, lengthy payment calculations is one of the most significant advantages of payment processing software. It facilitates payment transactions seamlessly and manages a unified information database.
Payment management software can increase the bottom-line results of any type of organization. However, it does have a few drawbacks, too, such as:
- Sometimes payment processing software may prove to be very technical. Users may not learn how to navigate the system and thus may require training to use the software.
- If not appropriately managed, payment management systems may be prone to the threat of being hacked. This would lead to security problems and compromise the company's sensitive information.
- Most payment processing software does not work in offline mode and always requires an internet connection for payment transactions to occur smoothly.
- Some payment processing software solutions are not fully scalable or customizable. The one-size-fits-all approach may not suit all organizations.
Despite all these drawbacks, payment management software is a real asset for organizations. Payment processing systems have tremendous potential for organizations. They boost end productivity parameters through streamlined task flow and more vital team collaboration and thus lead to a better work environment.