Accepting payment as a individual in SaaS app
Hi, am shakil. I will try to keep this question simple.
I haven’t registered a business. No VAT or company registration.
I am working on an app, TradePlan.io , is there any service provider that lets me accept payment to my personal account. Once things work out, I will for sure register the needed stuff.
FYI, I am based in India. So if there are any India based indie hacker who had used any payment gateway to measure the initial traction before they registered there startup, do let me know.
That said, any global solution is also acceptable. Thanks.
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I believe you can use Paddle? Take a look at it.
I think I need to be a LLC or other type of registered company
I asked and they confirmed that we don't need to register a company. You can sell as an individual just fine.
Thanks for that info 🫡
No payment gateway company allow you to make international transactions without a company in place
No foreign customer pay you on your personal account. They don't feel safe.
Here is a no cost solution
Just use Udyog Aadhaar to register your business in next 10 minutes without any cost.
All you need is your aadhar card number. Then take that registration number to any nationalized bank , they will allow you to open a bank account
Then use the bank account details to register for RazorPay or Stripe.
What if my company don't work
Just close the bank account. That's it.
More over your are trying to be a entrepreneur. If this idea don't work then you will find one more to work with
Woa! I was having the exact same issue as @shaqqs here (In fact, i had posted the same question few days back).
Thanks for this response. 🙏
Kool. Did u find any interesting solution
nothing really. i recently built some app to gain some experience in end-to-end product building (https://sqlgenie-co.web.app). so for that i decided to use gumroad with PayPal account.
RazorPay also allows accepting payments as individual. Not sure if it has any caveats for accepting payments as individual for a business.
Someone did suggest Paddle. But I have not tried it out yet.
@clustermin just confirm it works out it seems
Hi Sachin, Nice answer.
I have 2 questions.
Why to open a separate account for your Business, cant I use my existing (personal) bank account to accept payments?
Also, why not Register 1 business and operate all your saas apps under it as subsidiaries / child organizations. It'll save the trouble of registering new business every time.
Nope. Because payment gateway ask for company registration details and company bank account for verification
You can do it. I am doing it as well. You can run any number of apps under one business.
I will look into the udyog adhaar option. Thanks
Do we have stripe in India ?
Yes. I am using them for my business from last 2 years
Actually I started with RazorPay because then Stripe wasn't yet operating in India.
As soon as they started operations in India, I switched.
You can either use paddle or gumroad.
Hey shakil, you can try https://app.nocodepayments.dev/ It's made for exactly this purpose for early stage products.
you can directly receive payments in your paypal account or directly in your account(if indian)
if you do try let me know I will help you personally.
You can't take international payment using RazorPay or Stripe as a individual.
You need to have either proprietorship or LLP based account.
That’s the issue. I don’t wanna set up a company for a product which may or may not work.
Not sure why. If your first app idea don't work then do you give up being entrepreneur ?