HubSpot Launches New Payments Solution to Help Customers Deliver a Better Buying Experience

Rhea-AI Summary

HubSpot announced the launch of HubSpot Payments, an end-to-end payment solution aimed at enhancing the buyer experience at INBOUND 2021. This new feature integrates directly with the HubSpot CRM, enabling businesses to accept payments effortlessly, thus replacing outdated payment methods. The platform offers capabilities like payment links and recurring payments, and it waives fees for the first $50,000 ACH transactions monthly. The solution is currently in beta and available only for U.S. customers. With this launch, HubSpot aims to address the inefficiencies in the B2B payment process, streamlining transactions.

Positive

• Launch of HubSpot Payments, integrating easily with HubSpot CRM.
• Waiving fees on first $50,000 of ACH transactions monthly.
• Offers features like payment links and recurring payments.
• Addresses inefficiencies in B2B payment processes.

Negative

• HubSpot Payments currently available in beta only for U.S. customers.

CAMBRIDGE, Mass., Oct. 12, 2021 /PRNewswire/ -- HubSpot, the customer relationship management (CRM) platform for scaling companies, announced today at INBOUND 2021 the launch of its open beta for HubSpot Payments, an end-to-end payment solution built to deliver a more delightful and connected buyer experience. Built natively as part of the HubSpot CRM platform, HubSpot Payments enables companies to accept payments confidently and seamlessly in less time and with fewer tools.

Today's B2B buyers have come to expect a frictionless, digital buying experience that matches that of B2C ecommerce, facilitating secure and streamlined payments in as few steps as possible. Unfortunately, many companies are still saddled with clunky and inefficient payment solutions. In fact, according to Gartner, 77% of B2B buyers found their latest purchase to be complex or difficult. This leads to longer purchase processes and more friction for customers, not to mention the lost revenue that results from a friction-filled sales process.

Because HubSpot Payments is built directly into the HubSpot CRM, companies can easily begin accepting digital payments without having to write code or cobble disparate integrations together. Replacing paper checks with digital payments enables companies to get paid faster and eliminate manual, error-prone processes. This also creates a more streamlined, secure buying experience for their customers, allowing buyers to order and pay in just a few clicks using their preferred payment method. Whether the sale is touchless or rep-assisted, customers will have the same seamless experience that integrates natively with a company's website, reporting, automation, and CRM.

"For too long, B2B companies have suffered through painful sales processes that leave customers frustrated and lost revenue on the table. That's why we've built HubSpot Payments to enhance the customer experience rather than slow it down," said Brad Greene, VP of commerce and payments at HubSpot. "Because Payments is part of the HubSpot CRM platform, companies are able to collect payments in less time and with fewer tools, creating a more seamless experience for their customers. That's a win-win for both our customers and the companies they serve."

HubSpot Payments supports all major credit cards and ACH payments, ensuring that companies can enable the payment methods that work for them. To help customers get up and running, HubSpot is also waiving fees on the first $50,000 of ACH transactions processed through HubSpot Payments each month. Other key features of HubSpot Payments include:

• Payment links, a unique, native URL that streamlines the payments process with fewer steps for sellers and buyers. Links work out of the box with deals, workflows, reporting, forms, and analytics. Payment links can be embedded on a website or shared in email, chat, or quotes, making it easier for customers to conduct one-time sales and manage payments within HubSpot.
• Recurring payments, which allow customers to sell memberships, set up retainers, take ongoing donations, and more. Recurring payments are also available as an object in the HubSpot CRM, giving customers the ability to customize their processes as needed.
• A native integration with HubSpot's quotes feature in Sales Hub, allowing companies to get paid immediately when their customer accepts the quote. This eliminates the need to chase down payments and deposits after the customer has signed, saving precious time for sales teams and reducing friction for buyers. Companies can also connect with other popular finance integrations to create a full view of the customer from quote to cash.

"HubSpot Payments has made it incredibly easy for us to have clarity across all departments. We are able to properly segment and manage our customers based on their digital purchases without relying on disparate integrations or needing to double-check other systems," said Maya Voss, chief marketing officer at The Black Swan Group. "We've been able to get up and running with digital payments quickly and easily, which has saved us precious time and improved the buying experience for our customers as well. And because Payments is integrated into the HubSpot CRM, we're able to tap into that information to inform our other customer-facing functions."

Stripe, a HubSpot partner since 2018, is helping power HubSpot Payments. Stripe's best-in-class infrastructure is built natively within HubSpot's CRM so fast-growing businesses can accept payments from their customers and provide a better buying experience.

"HubSpot and Stripe are helping companies scale by providing tools that deliver better customer experiences and power their growth," said Jeanne Grosser, head of Americas revenue and growth at Stripe. "Today's launch is another milestone in delivering a more connected and contextualized experience for businesses that want their payments and CRM to move as seamlessly as they do. By connecting our tools natively in HubSpot, we're taking our partnership to the next level so more customers can benefit." 

HubSpot Payments is currently in beta release and is available for US customers only. Interested customers can sign up to be notified when the product is available here. Learn more about all of the product announcements HubSpot made at INBOUND 2021 at hubspot.com/new.

About HubSpot

HubSpot (NYSE: HUBS) is a leading customer relationship management (CRM) platform that provides software and support to help companies grow better. The platform includes marketing, sales, service, operations, and website management products that start free and scale to meet our customers' needs at any stage of growth. Today, more than 121,000 customers across more than 120 countries use HubSpot's powerful and easy-to-use tools and integrations to attract, engage, and delight customers.

Named Glassdoor's #4 Best Place to Work in 2021, HubSpot has been recognized for its award-winning culture by Great Place to Work, Comparably, Fortune, Entrepreneur, Inc., and more. HubSpot was founded in 2006 and is headquartered in Cambridge, Massachusetts. The company's thousands of employees work across the globe in HubSpot offices and remotely.

Learn more at www.hubspot.com.

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SOURCE HubSpot

FAQ

What is HubSpot Payments and when was it launched?

HubSpot Payments is an end-to-end payment solution that launched on October 12, 2021, during INBOUND 2021.

How does HubSpot Payments improve the buyer experience?

It allows businesses to accept payments seamlessly, replacing inefficient methods, and providing a streamlined process.

What features does HubSpot Payments offer?

Key features include payment links, recurring payments, and native integration with HubSpot's sales tools.

Are there any fees associated with HubSpot Payments?

HubSpot is waiving fees on the first $50,000 of ACH transactions processed each month.

Is HubSpot Payments available internationally?

Currently, HubSpot Payments is only available in beta for U.S. customers.