I'm trying to find some payment gateway options for a small personal SaaS project, but I'm not even sure if it will be profitable yet. I want to avoid platforms that have heavy requirements, specifically ones that force you to connect a bank account right away, like Stripe or LemonSqueezy. Ideally, I need something that can handle recurring payments or subscriptions but allows me to add a bank account later, just for payouts. Additionally, any KYC (Know Your Customer) processes should be straightforward, requiring only basic document verification without the need for a tax ID or complicated setup. Any recommendations?
2 Answers
I totally get where you're coming from. When you're in the validation stage, heavy KYC and bank requirements can really hamper your progress. For what you want, I'd recommend looking into a Merchant of Record model. These platforms handle payments and compliance for you, so you don’t need a bank account or registered business right off the bat. Check out Paddle and Dodo Payments. With Paddle, you can start as an individual and set up recurring billing with their hosted checkout. They only ask for your bank account when you're ready to cash out, and no need for business docs upfront. I’ve used Paddle and while their support can be a bit slow, it works well overall. Dodo Payments is similar but has a better support response time. You can get your subscriptions started and then add your banking details later. Just skip the upfront bank hoops and use them to get started fast!
Just a heads up: be careful with platforms like PayPal that don’t require you to link a bank account initially. They can freeze your funds at any time, and then suddenly they’ll ask for three months of business bank statements and proof of your business. It’s risky to keep money in a "wallet"; always try to transfer it to your bank account daily to avoid complications.
Thanks for the suggestions! I'll definitely check both of them out.