V. Competitive Analysis
5.1 Competitors
Competitor 1
[Competitor 1] is a well-known and trusted payment provider offering fraud support and seller protection measures. It offers a flexible checkout experience that helps merchants to connect with more customers. Business payment solutions of the company include integration with trusted partners that help businesses or merchants thrive, from accounting software to social media tools.
Competitor 2
[Competitor 2] provides an all-in-one solution for software and SaaS companies, with subscription management, recurring billing, analytics, and a payment gateway. It provides a customizable subscription management solution and a completely automated recurring billing system through automated dunning management, e-mail communication, etc.
Competitor 3
[Competitor 3] provides several services for software and SaaS companies, including subscription management, recurring payments, and an integrated payment gateway. The integrated payment gateway ensures seamless payment collection in a way that merchants don’t need to integrate a third-party payment processing solution. Its subscription management module is very easy to use and flexible enough to handle complex subscription models.
5.2 Attribute Comparison
5.3 SWOT
Strengths
- Easily accessible and customizable software
- Recurring billing & fraud management
- PCI DSS compliant
- All forms of payments accepted
Weakness
- Being new to the market can cause a significant lag in establishing goodwill and trust.
Opportunities
- The rising popularity of mobile-based apps for making money transfers also propels internet banking demand, thus increasing the need for a well-integrated payment gateway.
- The billing solutions software market size was valued at $3,905.58 million in 2020 and is projected to reach $10,819.95 million by 2028, growing at a CAGR of 13.19% from 2021 to 2028.6
Threats
- Competitors could look to copy the company’s business model.
