All
TekRescue
Quotations

FlexPoint has made my job easier because I can depend on invoices to go out without oversight, and I'm notified about absolutely every payment and message. It's reduced my accounts payable/receivable workload by 75%.

Juli Brinkley

Loud & Clear
Quotations

FlexPoint's Working Capital Solutions have been crucial in helping Loud & Clear expand its services to enterprise-level clients. The boost in our number of clients & annual revenue has been staggering.

Patrick Kemp

TekRescue
Quotations

FlexPoint has made my job easier because I can depend on invoices to go out without oversight, and I'm notified about absolutely every payment and message. It's reduced my accounts payable/receivable workload by 75%.

Juli Brinkley

Loud & Clear
Quotations

FlexPoint's Working Capital Solutions have been crucial in helping Loud & Clear expand its services to enterprise-level clients. The boost in our number of clients & annual revenue has been staggering.

Patrick Kemp

Top MSP Payments Software in 2024: Streamline Your Billing Process Efficiently.

Explore the best MSP payment software for 2024 to streamline your billing process. This guide reviews top MSP payment tools, highlighting their benefits and key features to enhance your MSP's efficiency and profitability.

Victor Lopez
CEO of FlexPoint

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Is manual billing slowing down your Managed Service Provider (MSP) business? Do you need help creating invoices and chasing down payments, which take precious time away from growing your MSP?

With the right MSP payment software, you can streamline your billing process, eliminate invoicing errors, and boost your cash flow. In this article, we'll explore the top MSP payment automation solutions for 2024 that can help you achieve just that. We'll cover the benefits of automating your MSP payments, what to look for when choosing software, and provide an in-depth review of the leading solutions on the market.

Benefits of Automating MSP Payments

Streamlining your billing process with MSP payment automation software isn't just about convenience – it's a strategic move that can significantly benefit your business.

  • Reduced Operational Costs: One of the best ways to reduce operational costs for your MSP is by using payment software that can help you reduce time spent on billing and other related activities. According to a survey by CompTIA, automation reduces MSP's annual IT costs by 25%. This cost reduction can be attributed to eliminating manual tasks like invoice creation, payment processing, and reconciliation.
  • Enhanced Billing Accuracy: Using payment software to automate your MSP billing process can reduce human error and increase efficiency. Automated systems ensure that invoices are generated correctly, payments are processed on time, and financial data is accurately recorded. This frees up time for more cognitive tasks that require severe human input; e.g., after Logically, a Portland-based MSP introduced automation, it increased efficiency by 55%.
  • Improved Cash Flow Management: When MSPs, like Noctis IT, utilize automation, they increase their onboarding revenue by 30% and boost margin revenue by 18%. Automated billing ensures timely invoicing and payment collection, reducing the time between service delivery and payment receipt. This improved cash flow management allows MSPs to reinvest in their business, hire additional staff, or expand their service offerings.  
  • Regulatory Compliance: MSPs and their clients must meet various regulatory standards, such as HIPAA for healthcare, PCI-DSS for payment card processing, and GDPR for data protection. Automated payment software helps MSPs maintain compliance by securely storing sensitive data, providing audit trails, and adhering to industry-specific requirements. Failure to adhere to industry regulations can lead to severe sanctions like fines from regulatory agencies, ranging from $5000 to $50,000 based on the circumstance.
  • Scalability: With the right payment software for automation, you can quickly scale your MSP to increase your client base. Automated systems allow you to handle many clients and transactions without significantly increasing your workload. In a recent survey of 1000 MSP leaders, 90% said automation is crucial to scaling their business. As your MSP grows, automated payment processes become essential to maintain efficiency and profitability.
  • Customer Satisfaction: Automated billing gives customers confidence by ensuring they do not have to go through manual payment processes, which would otherwise spoil their experience. Customers appreciate the convenience of automated payments, saving them time and effort. In a report by CompTIA, 54% of MSPs say customer experience is a driver for change in their operational model. By streamlining and providing efficient billing experience, MSPs can meet customers' needs and foster long-term relationships.

What is MSP Payment Automation Software?

MSP Payment Automation Software is a specialized solution to streamline and centralize billing and financial management tasks for Managed Service Providers (MSPs). These software are created to meet the unique needs of MSPs, allowing them to efficiently manage their finances and stay on top of scheduled payments.

One of the critical features of MSP Payment Software is that it can seamlessly integrate with popular MSP tools, such as ConnectWise, Kaseya, etc., as well as accounting tools, like QuickBooks and Xero

This direct integration ensures accurate financial data records, including the client's transaction history, are maintained in real-time. 

By automating repetitive tasks and minimizing the likelihood of errors, MSPs can reduce time spent on administrative tasks, improve accuracy, and focus more on delivering quality services to their clients.

What sets MSP Payment Automation Software apart from generic financial solutions is its specialized features tailored to the needs of MSPs. These include customizable invoice templates that allow MSPs to professionally bill their clients in a manner aligned with their specific services or payment models. This ensures a consistent and professional billing experience for the MSP and their clients.

Additionally, MSP Payment Automation Software often includes advanced reporting and analytics tools. These tools provide valuable insights into profitability, revenue trends, and other key financial metrics. 

By leveraging this data, MSPs can make informed, data-driven decisions to manage their financial model better and optimize their business performance.

The Importance of Choosing the Right MSP Payment Software

Selecting the right payment automation software is crucial for your MSP to achieve optimal operational efficiency, simplify accurate billing, and adhere to financial regulations. 

A study conducted by Pymnts Businesses revealed the cost of payments of 41% as one of the three primary problems in B2B payments, leading to revenue loss in the form of fees. 

Choosing the wrong MSP payment software can have far-reaching consequences, making it imperative to consider the following factors:

  • Impact on Service Delivery: One of the primary functions of payment automation software tailored to MSP services is ensuring invoices are issued promptly and accurately. This significantly reduces the risk of service interruption due to delayed payments, maintaining a smooth and uninterrupted service delivery to your clients. 
  • Data Security: MSPs handle sensitive client data, such as credit card information and billing details, so data security is a top priority. The payment software you choose must comply with stringent security standards to protect your clients' information and maintain their trust in your services. Lack of data protection and security can lead to breaches, legal consequences, and irreparable damage to your reputation. 
  • Feature Compatibility: The selected software should be comprehensive and integrate seamlessly with your existing Remote Monitoring and Management (RMM) and Professional Services Automation (PSA) platforms. Incompatible software can lead to inefficiencies, data inconsistencies, and a disrupted workflow, ultimately affecting your client's ability to deliver quality services. According to the Global MSP benchmark survey report, 90% of MSPs believe integration is crucial to their and clients' business continuity.
  • Future-Proofing: As the MSP industry evolves, your payment software must keep pace with new technologies and changing customer demands. Choosing a software solution that is adaptable and continuously updated ensures that your MSP remains competitive and can meet your clients' evolving needs.
  • Vendor Support and Development: Ongoing support from the software provider and regular software updates are essential to cope with changes and maintain a competitive edge. The right MSP payment software vendor will partner in your success, providing the necessary support and resources to help your business thrive.
  • Ensures Accurate Billing: Billing mistakes can lead to significant revenue loss. The right payment software ensures that all services are accurately billed and recorded, maintaining the legitimacy of your organization's operations. Accurate billing protects your bottom line and builds trust with your clients. 
  • Supports Compliance: MSPs must adhere to financial regulations similar to those in the financial market. Failing to comply with laws such as GDPR can result in severe sanctions, with fines of up to $20 million or 4% of the company's annual revenue. The right MSP payment software supports compliance efforts, helping you avoid heavy fines and legal entanglements.

How to Choose the Right MSP Payment Software?

When selecting the best payment software for your MSP, consider the following vital factors.

  • Features: Look for software with invoice management, payment processing, tracking, receipt generation, and reporting features to streamline operations and enhance customer experience.
  • Usability: Choose user-friendly software that simplifies billing, automates tasks, and offers self-service options for clients to pay their invoices, ultimately improving efficiency and satisfaction.
  • Pricing: Evaluate pricing options such as flat-rate, pay-as-you-go, tiered, or percentage-based, and select the one that aligns with your business size, target customers, and growth plans.
  • Scalability: Ensure the software can handle your current and future transaction volume, accommodate a growing client base, and offer expandable features.
  • Integrations: Opt for software that integrates with your existing PSA platform (Connectwise, Kaseya, etc.), accounting systems (Quickbooks, Xero, etc.), and other essential business tools for seamless operations.
  • Compliance and Security: Verify that the software complies with applicable industry regulations (PCI DSS, GDPR, SOC 2) and offers robust security features like multi-factor authentication to protect sensitive data.
  • Customer Support: Select a service provider that provides responsive customer support to address integration challenges, customer onboarding, billing queries, and customization needs promptly.
  • Reviews and References: Research customer reviews on platforms like G2 and Capterra and seek references to gauge the software's quality, reliability, and reputation.

Review of Top MSP Payments Software

This section reviews the leading MSP payment automation software for 2024. We focus on the key features, integration capabilities, and user feedback to aid MSPs in making well-informed choices. 

Each software review is structured to give a quick yet comprehensive overview of its utility for MSPs.

FlexPoint

FlexPoint Home Page

FlexPoint is a payment platform built and customized for managed service providers (MSPs). Its main goal is reducing payment processing times and enhancing cash flow management to be effective for MSPs and their clients. 

Smooth integrations enhance automation, and FlexPoint Billing automates the entire billing process, which makes it simple and easy to use.

FlexPoint Features

  • Allows recurring invoicing for clients with consistent billing cycles, ensuring timely and reliable invoicing.
  • Flexpoint provides real-time updates on invoice status, payment receipts, and overdue invoices.
  • Flexpoint allows you to customize your invoicing workflow to match your business processes.
  • Monitor key metrics, such as cash flow, through intuitive dashboards and customizable reports.
FlexPoint Customers Dashboard Example

FlexPoint Integrations

  • MSP-specific PSAs: Connectwise, Autotask, Halo
  • Accounting Systems: Quickbooks Online, Quickbooks Desktop, Xero

Pros of Using Flexpoint

  • MSP-focused payment platform.
  • Flexpoint provides a client portal for convenient invoice viewing and payment. 
  • Flexpoint allows automated invoicing and reconciliation, reducing manual work by up to 5 hours per month. 
  • Flexpoint offers end-to-end automation, reducing accounting and reconciliation time. 
  • No long-term commitments. Month-to-month contracts.

Cons of Using Flexpoint

  • Limited integrations, however, are expanding.

FlexPoint Pricing Information  

  • Custom pricing based on MSP's financial needs. 
  • Pricing information is available upon demo request.

FlexPoint Customer Reviews  

Here's a list of MSPs who use FlexPoint for their billing and payment processing needs:

Stripe

Stripe Home Page

Stripe specializes in payment-processing software and APIs, catering to e-commerce websites and mobile applications. 

Stripe Features

  • Stripe allows you to set up recurring payments and subscriptions, making it easy to bill your customers regularly with various payment methods, including Google Pay, debit cards, credit cards, and Apple Pay, and catering to a global customer base.
  • Stripe's advanced machine learning algorithms help detect and prevent real-time fraudulent transactions.

Stripe Integrations

  • Accounting Systems: Zoho Books, TaxDome, Freshbooks, Xero, Wave, BQE Core Suite, and Patriot Accounting.
  • MSP-Specific PSAs: Atera, Syncro, Autotask, Halo PSA, and Kaseya BMS.

Pros of Using Stripe

  • "Stripe does what it was set up to do. Help you receive money securely". - Capterra
  • "Stripe is easy to get up and going with" - Software Advice
  • "Stripe is easy to use, set up and secure so clients can trust their accounts".- GetApp
  • "UI is simple and good.” - G2

Cons of Using Stripe

  • "My only issue with them is that they threaten to shut down our nonprofit account." - Capterra
  • "Stripe is cumbersome to get started with." - Software Advice
  • "Currently Stripe is not available in other countries(like the Philippines)". - GetApp
  • “The system is not transparent at all. Documentation is not easily understandable.” - G2

Stripe Pricing Information  

  • Standard Plan: 2.9% + 30¢ per successful charge for domestic cards.
  • Stripe also offers additional services such as the general payment process; Stripe charges 2.5% + 20¢ per successful card charge (swiped and online).

Stripe Customer Reviews  

  • Customers appreciate Stripe's flexibility and security but suggest that the integration can require technical expertise.some text
    • G2 Rating: 4.3
    • Capterra Rating: 4.7

PayPal

PayPal Home Page

PayPal is a global leader in e-commerce payment solutions, providing MSPs with a convenient and reliable payment process system aimed at the online environment. Through this wide-term trustworthy brand, PayPal has become an essential tool for companies that will allow them to improve the processing of their payments and recruit more customers.

PayPal Features

  • PayPal allows you to create and send professional invoices directly from your account.
  • PayPal allows smooth transactions for both domestic and international transactions.
  • PayPal provides a secure wallet for storing funds, allowing you to manage your balance and transactions in one place.

Paypal Integrations

  • Accounting Systems: Sage Intacct, ZarMoney, Stax Bill, FreshBooks, and Xero
  • MSP-Specific PSAs: HaloPSA, CloudBlue PSA, Computicate PSA, and Syncro.

Pros of Using PayPal

  • “PayPal makes accepting payments online automatic for small businesses.” - GetApp
  • “Process transactions instantly and easy to find frequent customers” - Capterra
  • “Clients seems to know it and trust it. That is the positive side.” - G2
  • “PayPal has one of the best user-friendly interface along with easy API integration and quick implementation process.” - G2

Cons of Using PayPal

  • “The only pitfall is that the system could use an aesthetic update, which is a minor flaw”. - GetApp
  • “I don't like how sometimes it can take a week for debit/credit purchases to process.” - Capterra
  • “Their support representatives need help to help me and they bounce between departments.” - G2
  • “The fees PayPal charged can be revised.” - G2

PayPal Pricing Information  

  • PayPal's merchant fees vary based on the type of transaction and currency received.
  • For domestic transactions, the standard rate is 2.9% + fixed fee.
  • International transactions have an additional percentage-based fee based on the currency received.
  • PayPal offers various plans for different business needs.

PayPal Customer Reviews 

  • High marks for ease of use and customer support, though some mention the fees as a drawback.some text
    • G2 Rating:  4.4
    • Capterra Rating: 4.7

QuickBooks

Quickbooks Home Page

QuickBooks software integrates with financial management software, particularly for small and medium businesses (i.e., MSPs). Among them is the company's in-house payment processing service, built with large transaction capabilities in mind.

QuickBooks Features:

  • Implement automated recurring billing for clients with ongoing services, ensuring a steady cash flow.
  • Categorise expenses by type, such as hardware, Software, travel, or office supplies, for easy analysis and budgeting.
  • Create comprehensive financial reports to gain valuable insights into your MSP's performance and inform data-driven decision-making.

QuickBooks Integrations:

  • MSP-Specific PSAs: HaloPSA, Computicate PSA, Accelo, and Syncro.  

Pros of Using QuickBooks

  • “Can create invoices, which helps businesses keep track of their records.” - G2
  • “Reports are easy to use; you can follow the links to see more details if required.” - Software Advice
  • “Our financial records, including bookkeeping, accounting, payroll, and budgeting, are maintained in QuickBooks.” - GetApp

Cons of Using QuickBooks

  • “It's tough to log onto your account, but what happens if you need to remember your password or phone number?” - G2
  • “Inability to adapt documents to show specific fields of information.” - Software Advice
  • “The helpdesk could be more helpful.” - Capterrra
  • “Cleaning up the books is fantastic, but the execution fell short of expectations.” - GetApp

QuickBooks Pricing Information  

  • Simple Start: $15/month (50% off for three months)
  • Essentials: $30/month (50% off for three months)
  • Plus: $45/month (50% off for three months)
  • Enterprise: Custom pricing (includes advanced features like inventory management).

Payment Processing Pricing

  • QuickBooks charges a variable fee per transaction for processing payments, ranging from 1% to 3.5%. Here's a breakdown of their pricing:
  • ACH Bank Payments: 1%
  • Card Payments:some text
    • Credit/debit cards (Visa, Mastercard, Discover, American Express) - 2.99%
    • Digital wallets (Apple Pay, PayPal, Venmo) - 2.99%
    • Card Reader (In-Person Payments) - 2.5% (Visa, Mastercard, Discover, American Express, Apple Pay, Google Pay, and Samsung Pay)
  • Manually entered card information - 3.5%
  • QuickBooks Checking Deposit: Free for instant deposits
  • External Bank Account Deposit: 1.75% fee

QuickBooks Customer Reviews  

  • Users praise its extensive features but note that it might be overwhelming for smaller operations.some text
    • G2 Rating: 4
    • Capterra Rating: 4.3

Xero

Xero Home Page

Xero is an on-cloud accounting system enabling MSPs to access real-time financial data. It offers many features like invoicing, billing, and expense tracking, which can be accessed by any device and from anywhere the internet is available. 

Xero Features:

  • Allow clients to pay invoices online via credit card, debit card, or ACH transfer.
  • By leveraging the platform's features and integrations, MSPs can streamline operations, improve service delivery, and build stronger client relationships.

Xero Integrations:

  • MSP-Specific PSAs: Atera, Naverisk, Syncro, and Autotask PSA

Pros of Using Xero

  • “The ease of use is in all areas.” - G2
  • “It supports multiple bank feeds on a reliable basis, and its open API allows for the support of many add-in apps.” - Software Advice
  • “Their software is ten out of 10 on the user interface.” - Capterra
  • “It is good value for money and integrates well with our other software.” - GetApp

Cons of Using Xero

  • “The new invoicing screen slows my work down.” - G2
  • “Being a non-technical software, it sometimes needs to be more robust in terms of ease of change of prior information.” - Software Advice
  • “The software does not have a tax add-on compared to Quickbooks (Intuit).” - Capterra
  • “Ideally, it would be cheaper and have more customized report options.” - GetApp

Xero Pricing Information  

  • Xero offers various plans, including Starter, Standard, Premium, and Ultimate.
  • All plans include features like bank reconciliation, invoices, and bills.

Xero Customer Reviews 

  • Customers value real-time data access and ease of use, though some desire more customization.
    • G2 Rating: 4.3
    • Capterra Rating: 4.4

ConnectBooster

ConnectBooster Home Page

ConnectBooster is a payment automation platform designed to streamline accounts receivable for managed service providers. By automating tasks like invoicing and collections, it helps businesses accelerate their cash flow, reduce administrative time, and eliminate manual billing inefficiencies. 

ConnectBooster Features:

  • Automated invoice generation and payment collection.
  • The platform adheres to industry-standard security protocols, such as SSL encryption and PCI-DSS compliance ensuring the safety of payment data.

ConnectBooster Integrations:

  • Accounting Systems: Quick​​Books, Sage Intacct, Microsoft Dynamics GP, NetSuite, and Xero
  • MSP-Specific PSAs: ConnectWise Manage, Kaseya BMS, and Autotask
  • Ecosystem Partners: ConnectWise Sell, Quoter, QuoteWerks, GreatAmerica, DeskDirector, Invarosoft, CloudRadial, Datagate, and Zomentum

Pros of Using ConnectBooster

  • “Reduces our admin costs significantly while helping maintain solid cash flow.” - G2
  • “It allows us to integrate Connectwise Sell to quote and collect the money immediately upon acceptance of a quote.” - G2
  • “Connectbooster has allowed us to bring invoices and control to our client directly.” - Capterra
  • “Integration, automation, and customer self-service is important.” - Capterra

Cons of Using ConnectBooster

  • “Rising cost me about rethinking the product. This is not something you should have done.” - G2
  • “It is the easiest to initiate use with training.” - G2
  • “While there are a lot of integration points, it would be nice to have SSO.” - Capterra
  • “occasional issues with setting up clients.” - Capterra

ConnectBooster Pricing Information

  • $349/month

ConnectBooster Customer Reviews

  • Customers praise its seamless automation and reliable support but occasionally note challenges with the initial setup.some text
    • G2 Rating: N/A
    • Capterra Rating: 4.1

Alternative Payments

Alternative Payments Home Page

Alternative Payments provides an automated platform that streamlines payment processing for service-based businesses. Their solution allows companies to enhance revenue by reducing collection times, offering flexible payment options, and unifying invoicing and reconciliation. 

Alternative Payments Features:

  • Set up simple auto-pay features to reduce collection times. 
  • Offer your clients multiple payment options, including ACH, Buy Now Pay Later (BNPL), and credit card processing.

Alternative Payments Integrations:

  • Accounting Systems: NetSuite ERP, Quickbooks Online, Quickbooks Desktop, and Xero
  • MSP-Specific PSAs: ​​Connect Wise, Halo PSA, Autotask, and SuperOps AI

Pros of Using Alternative Payments

  • “Its ease of use, quick implementation, and cost savings are all benefits it provides.” - Capterra
  • “Easy, Money upfront while being able to provide flexible terms to customers.” - G2
  • “Ease of use for our clients has been seamless.” - GetApp
  • “The alternative is easy to use, and our customers like it, making our collections easy and effective.” - G2

Cons of Using Alternative Payments

  • “There were some minor difficulties with integration, but these were quickly overcome with the help of their onboarding team. - Capterra
  • It took me a bit to understand how best to send a payment link - G2.
  • The login feature could be simplified and be compatible with QuickBooks's desktop. - GetApp
  • I want reminders on the dashboard instead of a separate page. - G2

Alternative Payments Pricing Information

  • $199/month (up to $50,000 monthly processing volume)
  • $499/month (up to $100,000 monthly processing volume)
  • Custom (no limit on monthly processing volume)

Alternative Payments Customer Reviews

  • Users value the flexibility in accepting payments but desire more tailored features for MSPs.some text
    • G2 Rating: N/A
    • Capterra Rating: 4.1

BenjiPays

BenjiPays Home Page

BenjiPays, through its easy-to-use interface and clearly illustrated features, reduces the knotty procedure one must undertake in managing recurring bills and expenses, allowing the MSPs more time and effort to concentrate on the other aspects.

BenjiPays Features:

  • Automatically apply applicable taxes, discounts, or proration based on predefined rules or client-specific settings.
  • Automatically process recurring subscription payments using the client's preferred payment method, such as ACH transfer or credit card.
  • BenjiPays automates invoice payment processing when your customers pay through the provided links. 

BenjiPays Integrations:

  • Accounting Systems: QuickBooks and Xero
  • MSP-Specific PSAs: HaloPSA, Autotask, and ConnectWise PSA
  • Payment Processing: TD Merchant, Elavon, Stripe, Global Payments, Helcim, 

Pros and Cons of Using BenjiPays

  • Benji Pays doesn't lock businesses into a specific payment gateway or merchant account.
  • Customers appreciate the easy-to-use custom payment links.
  • Benji Pays offers features like self-serve customer portals and integrated refunds.

Cons of Using BenjiPays

  • BenjiPays requires MSPs to setup their own merchant account as well (Global Payment, Moneris, TD Merchant Services, etc.). 
  • Some competitors may offer additional features or better pricing.
  • Benjipay is not available in all regions.

BenjiPays Pricing Information

  • Starter Plan: $59/monthsome text
    • 30 approved transactions
    • Additional transactions at $1.00 each
  • Professional Plan: $119/monthsome text
    • 100 approved transactions
    • Additional transactions at $0.80 each
  • Premium Plan: $299/monthsome text
    • 350 approved transactions
    • Additional transactions at $0.60 each
  • Enterprise: Custom pricing.

BenjiPays Customer Reviews

  • High marks for user-friendliness and automation capabilities, though some of their customers report a desire for more robust reporting tools.some text
    • G2 Rating: N/A
    • Capterra Rating:

Zomentum

Zomentum Home Page

Zomentum offers an end-to-end payment processing solution specifically designed for MSPs. It streamlines billing by automating collections, setting up recurring payments, and providing timely customer reminders.

Zomentum Features:

  • Users can segment their contacts into groups, organize them, and gather crucial customer data. 
  • Identifies best customers for follow-up based on demographic and psychographic criteria.
  • Provides insights through business intelligence tools, reporting, and dashboards. 

Zomentum Integrations:

  • Accounting Systems: QuickBooks, QuickBooks Online, and Xero
  • MSP-Specific PSAs: Syncro, RepairShopr, Halo PSA, ConnectWise Manage, BMS By Kaseya, and Autotask.
  • CRM software: Salesforce, Infusionsoft By Keap, HubSpot, 

Pros of Using Zomentum

  • “The speed at which Zomentum helps us close proposals has enabled us to stream our work.” - G2
  • “We like being able to have our prospects sync from our Marketing CRM into Zomentum and then into our PSA for management.” - G2
  • “Zomentum simplifies the MSPs' sales process.” - G2

Cons of Using Zomentum

  • “The navigation and contacts layout could be better.” - G2
  • “We've had issues integrating with Autotask, given this is one of the main PSA tools.” - G2
  • “Unable to Whitelabel emails, domains, and SMTP of mail address”. - G2

Zomentum Pricing Information

  • Free Forever Access: 10 transactions/month 
  • One-time setup fee of $99

Zomentum Customer Reviews

  • Users appreciate the all-in-one approach for managing sales and payments but note it may be feature-rich for smaller MSPs.some text
    • G2 Rating: 4.2
    • Capterra Rating: N/A

WisePay

WisePay Home Page

WisePay offers an integrated payment platform for Technology Service Providers (TSPs), enabling streamlined invoicing and secure transactions. It provides features like automated payments, multiple payment options, and PCI compliance, helping businesses optimize cash flow and reduce administrative overhead. 

WisePay Features:

  • Enhances protection against cyber threats, unauthorized access, and data breaches. 
  • Generates comprehensive reports covering all relevant financial transaction aspects, ensuring accuracy and transparency.
  • Streamlines the process of matching incoming payments with corresponding invoices or orders. 

WisePay Integrations:

  • MSP-Specific PSAs: Datto, Autotask PSA. and ConnectWise PSA
  • Accounting Software: Sage, Intuit QuickBooks, Xero, and Freshbooks 

Pros of Using Wisepay

  • “I liked the ability to set up billing, but that's it.” - G2
  • “Easy to create users and to use. Once the clients are used to it, they like it.” - G2

Cons of Using Wisepay

  • “It does what it says, but I prefer something other than the backend setup.” - G2
  • “It does not allow batch payment for ACH payments.” - G2

WisePay Pricing Information

  • Provides tailored pricing options based on the MSP's needs and specific requirements.

WisePay Customer Reviews

  • Customers commend the security and detailed reporting but suggest improvements in user experience for ease of use.
SoftwareMSP-specific SoftwareContract-typeSecurity and ComplianceAutomated Invoice Generation and Payment CollectionRecurring Billing and Subscription ManagementReporting and AnalyticsCashflow Management ToolsIntegration and Flexibility
FlexPointYesNo long-term commitments. Month-to-month contractsPCI DSSYesYesYesYesConnectwise, Autotask, Halo, Quickbooks, and Xero
StripeNoNo contractsPCI DSS GDPR SOC 2YesYesYesNoAtera, Syncro, Autotask, Halo PSA, Zoho Books, TaxDome, and Kaseya BMS.
PayPalNoNo contractsPCI DSS GDPR SOC 2YesYesYesNoCloudBlue PSA, Computicate PSA, and FreshBooks
QuickBooksNoAnnual and month-to-month contractsPCI DSS GDPR SOC 2YesYesYesNoHaloPSA, Computicate PSA, Accelo, and Syncro.
XeroNoAnnual and month-to-month contractsPCI DSS GDPR SOC 2YesYesYesNoAtera, Naverisk, Syncro, and Autotask PSA
ConnectBoosterYesAnnual and multi-year contracts.PCI DSSYesYesYesNoConnectWise Manage, Microsoft Dynamics GP, NetSuite, Kaseya BMS, and Autotask
Alternative PaymentsYesAnnual and multi-year contracts.PCI compliance, ISO/IEC 27001 complianceYesYesYesNoHalo PSA, Autotask, NetSuite ERP, Xero, and SuperOps AI
BenjiPaysYesAnnual and multi-year contracts.PCI DSSYesYesYesNoHaloPSA, Autotask, Elavon, Stripe, and ConnectWise PSA
ZomentumYesAnnual and multi-year contracts.GDPR PCI DSSYesYesYesNoConnectWise Manage, BMS By Kaseya, Xero, and Autotask.
WisePayYesAnnual and multi-year contracts.GDPR, PCI complianceYesYesYesNoDatto, Autotask PSA and ConnectWise PSA
Summary Table: MSP Payment Software

Conclusion: Securing Your MSP's Future with the Right Payment Automation Software

In this blog post, we've reviewed the top MSP payment software solutions for 2024, highlighting their key features, integrations, pros and cons, pricing, and customer reviews. 

We also emphasized the critical role that billing process automation plays in streamlining operations, reducing errors, and improving cash flow for MSPs.

If you're an MSP looking to optimize your billing and payment processes, FlexPoint is a solution worth considering. For example, FlexPoint's payment automation software has proven transformative for Loud & Clear, an MSP based in Indiana. 

By providing working capital solutions and cash flow automation, FlexPoint has helped Loud & Clear to expand its services to enterprise-level clients, resulting in an impressive 400% revenue growth and a 5x acceleration in payment processing, all within a single year.

FlexPoint Financial Dashboard Example

Contact us to learn more about how FlexPoint can benefit your MSP. Explore our payment solution to help MSPs grow faster and maintain a competitive edge in their market.

Don't wait to take this critical step toward optimizing your payment processes and enhancing your financial performance. Discover the FlexPoint difference for your MSP — book a demo now to learn more.

Frequently Asked Questions: Best MSP Payment Automation Software

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Can MSP Payment Automation Software Improve Client Relationships?

Of course, by using MSP payment automation software, client relationships can be significantly improved with features like transparent billing, easy payment options, and a streamlined interface. These characteristics provide a client with an excellent understanding of billing processes that, in the end, can result in growth in client satisfaction and trust.

How Does MSP Payment Automation Software Integrate With MSP Management Tools?

The MSP payment automation application should be able to communicate with other applications, such as professional services automation (PSA). This allows MSPs to see the full picture of their client service delivery, including invoicing, billing, finances, etc. 

What are the primary security features of MSP Payment Automation Software?

MSP payment automation software's most vital security features are end-to-end encryption, conforming to the rules defined in the PCI DSS standards, etc. These features safeguard sensitive payment information, which guarantees your organization's security standard requirements according to the industry.

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The Importance of PCI Compliance in Managed Services: Safeguarding Your Business and Customers

PCI compliance, encapsulated by the Payment Card Industry Data Security Standard (PCI DSS), stands as a linchpin for any managed services business. It serves as a comprehensive framework devised by the Payment Card Industry Security Standards Council (PCI SSC), aiming to fortify the defenses of businesses against potential data breaches, which can have severe financial ramifications.

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What is FedNow and the Difference Between Push and Pull Payments

Will FedNow transform the way MSPs get paid? Not just yet. Push and pull payments are key concepts in payments.