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

Showing 1 - 20 of 76 products

Category Champions | 2023

#1

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

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Recent Review

"Zoho Bookings Schedule Good Timming" - JADAV PRAVIN

Emergents | 2023

#2

Stripe is one of the best payment software, which helps you run an internet business. It provides you the most powerful and flexible tool 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

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Recent Review

"I found that the software is easy to use" - T Just

#3

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

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#4

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

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Recent Review

"FreshBooks: The Simple and Intuitive Accounting Solution for Small Businesses" - Ayoub El Fahim

Category Champions | 2023

#5

TallyPrime is India’s leading business management software for GST, accounting, inventory, banking, and payroll. TallyPrime is affordable and is one of the most popular business management software, used by nearly 20 lakh businesses worldwide. Read TallyPrime Reviews

Starting Price: Available on Request

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Recent Review

"Very best softare in my view but some measure have to be taken in order make it perfect ." - Arpit mishra

Most Reviewed
#6

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

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"Review for Vyapar" - Junaid Ahmad

#7

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

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"Amazon Pay" - Ngala Emmanuel Shey (Jason

#8

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

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Recent Review

"My experience in Paypal" - HARISHITH Shattarje

Category Champions | 2023

#9

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

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#10

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

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Recent Review

"Online Payment Gateway " - Spay Live

Category Champions | 2023

#11

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

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Recent Review

"Excellent service" - Lynne Smit

Category Champions | 2023

#12

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

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Recent Review

"Amazing" - Rutuparna Behera

Category Champions | 2023

#13

Kapture CRM's user-friendly payment management software module 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

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Recent Review

"Most Customizable CRM" - Sunil Kumar

#14

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

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Recent Review

"Best Payment Gateway In Market " - RADHE STORE

Contenders | 2023

#15

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

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Recent Review

"ePaisa" - Anvesha Verma

Contenders | 2023

#16

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

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Recent Review

"Best construction software" - Dharmendra Goratela

Category Champions | 2023

#17

Bill.com is completely online payment management software for ACH payments, sending electronic invoices and payment reminders. It takes less time to solve the problem and the unique content of the site attracts users.     Read Bill.com Reviews

Starting Price: Starting Price: $29 User/Month

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Recent Review

"Pay bills using Bill.com" - Shreyas Bhuva

#18

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

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Recent Review

"Best platform for Accounting" - Sapna Pichanot

Emergents | 2023

#19

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

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Recent Review

"Hassle-free software at an affordable cost" - Nidhi Chavda

#20

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

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Recent Review

"Most recommended to other" - Mr. Bhupender

Until 31st Mar 2023

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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:

  • 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.

  • 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.

  • 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.

  • 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.

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FAQs of Payment Management Software

Payment management software is a tool that manages and organizes the payment procedures of the business. It integrates several payment management tools that offer an automated payment platform with advanced security.

Payment Management Software in following industries

Last Updated: February 27, 2023