UK-based Paddle has launches the Paddle Billing API set to help businesses improve their billing capabilities and increase revenue. This development, unveiled during Paddle's event, Paddle Forward, represents a progression for the company's core Merchant of Record (MoR) offering.

Paddle Billing introduces user-friendly tools and features to assist the growth of the company's clients, aiming to ensure scalability and an improved, flexible user experience. Following a period of rapid growth, partially fueled by the pandemic, the SaaS sector is now navigating a transformed landscape. According to Paddle's data, SaaS enterprises continue to expand, but churn rates have risen by 10% compared to the previous year due to factors such as enterprise cost-cutting, higher interest rates, and constrained budgets.

This underscores the heightened importance of effective retention strategies, especially as software firms seek to optimize their resources for innovation rather than expending efforts on payment infrastructure and billing systems. In this dynamic environment, SaaS businesses must exercise careful consideration in their scaling efforts and resource allocation. Paddle Billing has been designed to address these challenges by incorporating a range of enhancements to assist SaaS companies in their sustainable growth journey during a time of increased churn and limited developer resources.

What are the main features of Paddle Billing? Through its new suite of developer-friendly APIs, Paddle enables seamless integration into payment stacks, offering advantages such as real-time payment updates through webhooks and a unified API for integration with CRM, ERP platforms, and accounting software. Paddle Billing introduces tailored billing plans for diverse customer segments, encompassing multi-product subscriptions, intricate pricing models, and personalized discounts. Paddle Billing also paves the way for hybrid billing, enabling SaaS companies to adopt both credit card and invoice-based subscription charges, eliminating customer data fragmentation and allowing smooth transitions between sales-assisted billing and a self-serve, product-led growth (PLG) approach.

In the company press release, Paddle officials highlighted the significance of strategic revenue capture and retention for businesses in the current SaaS landscape. They also emphasised the company's commitment to transforming payments into a growth catalyst for SaaS companies through the improved Merchant of Record offering and the launch of Paddle Billing. Paddle's  founder underlined the continuous potential within the SaaS sector and emphasised that Paddle Billing marks an exciting phase of growth and progress for the company.

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