Alternative Payments
Alternative Payments is a B2B financial-operations platform that automates accounts receivable, accounts payable, and analytics for service businesses. It primarily serves managed service providers, accounting firms, and other SMB service companies across North America through native PSA and accounting integrations.
- Company typePrivate
- Founded2022
- HeadquartersNew York, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Alternative Payments does
Alternative Payments is a venture-backed B2B financial-operations platform purpose-built for service businesses that have historically lacked modern payment tooling. Its offering unifies three core modules — Accounts Receivable, Accounts Payable, and Financial Analytics — with an optional Collections Assist service in which Alternative Payments staff contacts customers directly to recover unpaid invoices. The company is headquartered in New York, was founded in 2022 (operating under legal entity Alternative Finance Corp.), and reports a team of 70+ employees.
The product is built on a REST API over HTTPS with JSON payloads and OAuth 2.0 client-credentials authentication, and is delivered primarily through native bidirectional integrations with the dominant PSA platforms (ConnectWise, Autotask, HaloPSA, SuperOps), accounting systems (QuickBooks Online and Desktop, Xero, Sage Intacct, FreshBooks, Zoho Books, Sage), and quoting tools (ConnectWise CPQ, Quoter, QuoteWerks). AR automation includes automated invoicing, reminders, autopay rules, escalation sequences, and a self-service client portal; AP management uses OCR-driven vendor-bill capture with approval workflows and ACH payments; analytics combines PSA and accounting data into per-client profitability and cash-health dashboards. Payment processing runs on Adyen under PCI DSS controls, and the platform holds SOC 2 Type II certification. AI is applied in narrow, well-defined ways — OCR extraction, automated reminder and collections workflows, and (post-Delmar Insights acquisition) AI-driven analytics — rather than as a foundational proprietary model.
Alternative Payments monetizes through a flat monthly subscription covering AR, AP, and analytics in one bundle, supplemented by transaction-based credit card processing fees and a built-in, compliant surcharging capability that allows customers to pass card fees to their own clients. Free ACH is included. Distribution combines an enterprise field-sales motion ("Book a demo" CTAs, consultative onboarding) with a 10% revenue-share referral partner program spanning MSPs, VARs, cybersecurity firms, accountants, agencies, manufacturers, and distributors. The primary verticals are Managed Service Providers, accounting firms, and broader service businesses (with telecom as a secondary segment); customers are predominantly SMB and mid-market, and the company cites 1,000+ service businesses on the platform, 96% CSAT, a 5-day average collection time versus a 35-day offline baseline, and roughly $2,340 in average monthly processing-fee savings per customer. The company raised a $22 million Series A in April 2025 (led by MissionOG and Third Prime) and acquired data and analytics platform Delmar Insights in November 2025.
Alternative Payments firmographics
Firmographics- Name
- Alternative Payments
- Legal name
- Alternative Finance Corp.
- Website
- https://alternativepayments.io
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Alternative Payments is a B2B financial-operations platform that automates accounts receivable, accounts payable, and analytics for service businesses. It primarily serves managed service providers, accounting firms, and other SMB service companies across North America through native PSA and accounting integrations.
- Ownership category
- akta.pro rank
Alternative Payments industry classification
Industry- Product category
- B2B Payment Automation Software
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Activities Related to Credit Intermediation (5223), Collection Agencies (56144)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Recurring Billing & AutoPay Management (FSAMAJAE)
- akta.pro secondary industries
- B2B / Invoice-Based BNPL (Trade Credit at Checkout) (FSAGAIAC), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)
Keywords
Where Alternative Payments is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Alternative Payments business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Subscription Fees: Flat monthly subscription pricing covering accounts receivable, accounts payable, and analytics in one platform. Includes free ACH, flat-rate credit card processing, and built-in surcharging capability.
- Processing Fees: Transaction-based fees for credit card processing. Built-in surcharging allows passing credit card fees to clients compliantly and automatically.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Flat monthly subscription with free ACH |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels8 records
Alternative Payments product offering
Product offeringCore offering
Alternative Payments provides a unified B2B financial operating system for service businesses that bundles automated accounts receivable, accounts payable, and financial analytics into a single subscription platform. The product automates invoicing, payment collection with reminders and autopay rules, vendor bill capture and ACH disbursement, and reconciles data bidirectionally with leading accounting and PSA tools. It also offers a Hosted Checkout REST API for embedded payment experiences and a Collections Assist service where the Alternative Payments team pursues unpaid invoices on the customer's behalf.
Product overview
Alternative Payments is a unified B2B financial operating system for service businesses, comprising three core integrated modules — Accounts Receivable, Accounts Payable, and Analytics — that work together automatically. The platform integrates natively with leading accounting, PSA, and quoting tools, and is backed by Collections Assist for direct collections support. A Hosted Checkout API enables developers to embed and automate payment operations programmatically.
Differentiator
Problem solved
Functional benefit
Products and services
- Accounts Receivable Automated AR module that handles invoice delivery, payment tracking, autopay rules, automated reminders, Collections Assist escalation, and a self-service client portal, built for service businesses that bill clients on recurring contracts.
- Accounts Payable Automated AP module for managing vendor bills, approvals, and ACH payments, including OCR-based invoice scanning, configurable approval workflows, and a full audit trail from inbox to payment, designed for service businesses managing vendor spend.
- Analytics Financial analytics module that combines PSA and accounting data into dashboards surfacing client profitability, team utilization, and cash health insights for service-business finance teams.
- Collections Assist Collections escalation add-on in which the Alternative Payments team contacts end customers directly on behalf of the business to recover unpaid invoices, supplementing the platform's automated reminder sequences.
- Hosted Checkout API RESTful developer API that lets platforms and partners create and manage customers, issue invoices, collect payments, track transactions, and reconcile payouts using OAuth 2.0 client-credentials authentication, complemented by a JavaScript Web SDK for embedded checkout experiences.
Quantifiable outcome
- 5-day average collection time (vs. 35 days offline)
- +6 more outcomes
Companies that use Alternative Payments
Customer profileNamed customers13 records
Segments4 records
Ideal customer profiles3 records
Alternative Payments technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
AI capability4 records
Feature8 records
Alternative Payments partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- LedgerWaycoreStrategic partnership to deliver AI-powered accounts receivable automation to over 5,000 small businesses across North America. LedgerWay makes Alternative Payments' AR automation suite—including AI workflow automation, automated invoicing, secure payment portals, and real-time payment tracking—available as its recommended solution for clients. Advances Alternative Payments' expansion into the accounting industry while providing LedgerWay's clients with faster collections, improved cash flow, and integrated AR management tools.
Scale indicators11 records
Recent moves6 records
Expansion highlights7 records
Alternative Payments competitors and assessment
Company assessmentBroad incumbents
- Bill.com: Bill.com is a leading B2B AP/AR automation and payments platform serving SMBs and mid-market, with significantly larger scale and a public-market balance sheet. Competes broadly in the same AR/AP automation category but is not MSP-specialized.
- Melio: Melio offers B2B bill payments and AR automation for small businesses via accounting software integrations (QuickBooks, Xero). Overlaps with Alternative Payments' SMB AR automation use case but serves a broader SMB base beyond service businesses.
- Stripe: Stripe is the dominant online payments platform and the most cited comparison target on Alternative Payments' site. While not purpose-built for service businesses, Stripe's scale, developer tooling, and SMB reach pose a competitive threat if it adds MSP-specific AR features.
- QuickBooks Payments: QuickBooks Payments is Intuit's integrated payment processing offering tied to the dominant small-business accounting platform. As a named comparison target on Alternative Payments' site, it is the incumbent Alternative Payments must displace at the AR/payments workflow layer.
Direct peers
- ConnectBooster: ConnectBooster is a payments automation platform purpose-built for MSPs, with deep ConnectWise/Autotask integration and recurring billing collections. Direct head-to-head competitor cited on Alternative Payments' own comparison page.
- Benji Pays: Benji Pays offers recurring billing, auto-pay, and surcharging for MSPs and small businesses. Explicitly listed as a comparison target on Alternative Payments' site, with pricing starting at $129/month.
- WisePay: WisePay is an MSP-focused recurring billing and collections platform that automates invoicing via PSA integrations. Directly competes for the same MSP customer base and is named on Alternative Payments' comparison pages.
- FlexPoint: FlexPoint provides automated payment processing and AR workflows for MSPs, with PSA-integrated billing and collections. Another head-to-head MSP-payments peer named in Alternative Payments' competitive SEO pages.
Emerging players
- Stampli: Stampli is an AI-driven AP automation platform with invoice capture, approval workflows, and payments. Competes with Alternative Payments' AP module for mid-market customers, though it does not focus on PSA-integrated service-business AR.
- Tipalti: Tipalti provides end-to-end accounts payable automation, global payments, and supplier management for mid-market and enterprise. Adjacent competitor with overlap in AP automation, though its focus is broader than MSP/service-business AR.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Alternative Payments social profiles
Digital presenceAlternative Payments compliance and trust
Trust signalCompliance1 record
Alternative Payments financial estimates
Financial estimateRevenue estimate
Valuation estimate
Alternative Payments leadership team
Management profileNumber of profiles
Profiles3 records
Alternative Payments subsidiaries and ownership
Company hierarchySubsidiaries1 record
Alternative Payments funding detail
Funding detailFunding overview
Funding rounds2 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Alternative Payments M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Alternative Payments
What does Alternative Payments do?
Alternative Payments provides a unified B2B financial operating system for service businesses that bundles automated accounts receivable, accounts payable, and financial analytics into a single subscription platform. The product automates invoicing, payment collection with reminders and autopay rules, vendor bill capture and ACH disbursement, and reconciles data bidirectionally with leading accounting and PSA tools. It also offers a Hosted Checkout REST API for embedded payment experiences and a Collections Assist service where the Alternative Payments team pursues unpaid invoices on the customer's behalf.
Is Alternative Payments a public or private company?
Alternative Payments is a private company. It is classified as venture growth investor backed and is currently operating.
When was Alternative Payments founded?
Alternative Payments was founded in 2022. It employs 51 to 100 people.
Where is Alternative Payments based?
Alternative Payments is headquartered in New York, United States, in the North America region.
How does Alternative Payments make money?
Two revenue lines are on record. Subscription Fees are the primary driver. The others are processing Fees.
Who are Alternative Payments's main competitors?
Broad incumbents on record are Bill.com, Melio, Stripe and QuickBooks Payments. Direct peers are ConnectBooster, Benji Pays, WisePay and FlexPoint. Emerging players are Stampli and Tipalti.
Does Alternative Payments have an API?
Yes. RESTful API over HTTPS enabling developers and partners to create and manage customers, issue invoices, collect payments, track transactions, and reconcile payouts. Supports one-off checkout experiences, invoice-based payments, customer management, transaction history, and payout reconciliation. Uses OAuth 2.0 client-credentials flow. Includes a Web SDK for building payment interfaces. Rate limit: 5 requests/sec per API key. Developer documentation is at docs.alternativepayments.io.
What industry is Alternative Payments in?
Alternative Payments's product category is B2B Payment Automation Software. Its primary akta.pro industry code is FSAMAJAE, Recurring Billing & AutoPay Management, with a secondary code of FSAGAIAC, B2B / Invoice-Based BNPL (Trade Credit at Checkout). Its NAICS code is 522320 and its SIC code is 6159.