Affordable solution for autobilling/payment for MSPs?

[Velvis]

I have a handful of clients that I perform MSP services for. I have been using Freshbooks as an invoicing system mostly because of its automatic recurring invoices. I think I pay about $240 a year. (which I would like to get rid of)

Here is what I need:
1) Invoicing with automatic recurring billing.
2) Reasonably priced CC payment system over the web for those MSP recurring customers.

I don't need on site payment acceptance or a CC payment for a random client or store front acceptance. (I have no problem taking a check from someone face to face and I have no store front)

I would like to auto bill my main clients and get paid automatically from them at a reasonable service fee.

I have been looking to save some money and found that Wave provides similar service as Freshbooks for free.

Wave provides online payment for .30 cents + 2.9% per transaction.

For example: on a $800/month account is roughly $300/year.

The fees seem too high to me, to eliminate a check and a stamp. (I don't have to go to the bank as I can deposit a check from my phone)

Are there solutions out there priced better and more geared to what my needs are?

 

[carrcomp]

You're not going to find better than what you're seeing with Wave (which is actually stripe)

Online payments always have a higher % because they are considered higher risk. Unless you're going to start processing at ridiculously high amounts per year (which at that point would make the % pointless) you're not going to get a better deal.

Get more clients, process more CC payments, and when you get high enough go shopping. You'll find companies much more willing to give you a deal to switch over.

 

[Velvis]

Ok, well two more thoughts:

What about charging the client the fee?

on the other hand is there any kind of "direct deposit" bank to bank type system?

 

[carrcomp]

Here in Canada you can use Interact e-Transfers. But it costs the client 1$ so most won't do it.

As far as charging the client the fee, I wouldn't. That fee is a write off anyway ... the price of taking payments online.

Just keep things the way they are, and you should be fine. Get more volume, and this won't matter anymore.

 

[gikstar]

I like re-occuring deposits, just like your gym membership and also love to have the client just send me a check every month

 

[drpcfix]

You need an ACH service for those types of payments ideally, any credit card processing is going to be similar to the prices you mention - but an ACH service will be more like $0.50/transaction, and 0.00%.

I thought freshbooks already provided this for you? (just from memory - I've been hearing about this lately)

I looked around a bit, and even these types of services want like $30/month for you to use it - so you end paying paying the same at the end of the year?

But - if you were doing like 40k/mo in MSP revenue, using an ACH service, you would see your effective rate be basically cheaper than a stamp+envelope.

 

[Slaters Kustum Machines]

I use to use Freshbooks and loved the product/automation, but as you mentioned the cost got to be an issue. I moved to PCRT and while recurring invoices aren't fully automatic (you have to email or print the auto generated invoice and send them) the savings was worth it for me.