Everything should be accurate and on time when managing payments to maintain a good experience. In today’s digital world, everyone wants payment to be sent and received fast on time with accuracy and without any error during the transaction.
To tackle a load of manually processing all the payments, businesses and companies use payment management software to automate the transactions and make it easy for them to deliver the payment fast with receipts and transaction details.
Payment management software is a great option for your business, but it can be very costly and cost up to $100 per month, so the best alternative is Free Software For Payment Management with good features and quality.
Free software can be very helpful if chosen correctly, and you can get your work done without spending a penny.
In this guide, I ranked the 7 Best Free Software For Payment Management in 2023.
Best Free Software For Payment Management
1. Melio
Melio is one of the best free software for payment management and billing. It enables you to make instant payments and manage all approvals.
It helps maximize cash flow and lets you pay multiple accounts simultaneously around the globe. It integrates with QuickBook commerce and makes your work easier.
Features:-
- Multiple bill payment
- Team management
- Lifecycle Tracking
- Chatbots
- Divide a bill into several payments
- Sync and Integration with QuickBooks
2. Zoho Invoice
Zoho invoice enables you to create professional automatic payments and lets you send payments professionally. Many businesses trust it, as it enables you to track your billing data and makes it easy for you to receive your payments quickly and efficiently.
It lets you set a payment reminder, automate payments on a recurring basis, and send and receive payments worldwide, Increasing customer experience with fast payments.
Features:
- Advanced Customer Analysis
- Client Portal Payments
- Payment Reminders
- Auto Charge
- Template Customization
- Recurring Invoices
- Record Offline Payments
- Schedule Invoices and Recurring Invoices
- Multiple Currency Invoices
3. Venmo
Venmo is mobile-based payment software that allows users to make and receive payments. It offers cashback on bill payments and transactions. You can create a business profile and reach customers via a mobile device.
It lets you split bills and send payments via a QR code. You can link your bank account and credit cards with the application to transfer money to anyone with fast transactions.
Features:
- Data Security
- Electronic Payments
- Debit and Credit Card Payments
- Analysis
- Operate on Mobile
- Customer management
4. Vagaro
Vagaro is payment management software for salons, fitness centers, and spa owners. It enables you to accept payments from customers and clients on any platform. Vagaro offers 0 fees on payments of less than $4000 per month.
Track your payments and bills through mobile applications, it accepts payments through Google pay, Apple pay, and Samsung pays. It offers a 30-day free trial for new signups.
Features:
- Pay Later
- Customer Tracking
- Reminders
- Reports
- Pay Desk
- Mobile Application
- Activity Tracking
- Appointment management
- Dashboard
- Booking Management
5. Square Payments
Square payments are a well-known payment management platform that lets you process and accept payments. It offers online payments and EFTPOS payments through mobile applications.
It offers a very fast payment service and accepts all types of cards. It offers many features like fraud protection, fast payments, and transactions and lets you store payment details.
Features:
- Balance Management
- Dispute Management
- Fraud Prevention
- Cash Management
- NFC
- Invoice
6. FreshBooks
FreshBooks is an invoice and accounting software that enables you to send invoices and manage multiple projects at the same time. It lets you automate processes like invoicing, billing and payments.
It offers many ways to pay like credit card and checkout links. It lets you track and view payments on a dedicated dashboard. It also offers accounting features that help in managing cash flow and business finances.
It offers many features like invoicing, Time tracking, project management reporting, and payment management. It integrates with more than 100 apps like G Suite, Gusto, Stripe, and Fundbox.
Features:
- Payment Reminder
- Recurring Invoices
- Multi Currency Billing
- Duplicate Invoice
- Tax Calculation
- Inventory
- Retainers
- Deposits
7. Veem
Vemm payment management software helps in managing payments for both sender and receiver. It enables you to track payments in real-time and lets you pay with email addresses.
It offers different payment methods for receiving and sending payments with invoicing and it lets you automate payments and helps you manage a good cash flow.
It integrates with QuickBooks, oracle NetSuite, and Xero.
Features:
- Payment Management
- Invoice Management
- Fraud Detection
- Integration
- Transaction Monitoring
- Billing
- Tracking
Wrap Up
This was my list of the Best Free Software For Payment Management. You can choose any software from the list that suits your work. All the software above is highly rated and reviewed.
I hope you got what you were looking for. Thanks for reading, and don’t forget to comment on your favorite payment management software from the list.