Brief Look at FastSpring
The FastSpring payment system is one of the leading payment services in the digital products segment. It was originally developed for online stores that sell software. However, today FastSpring has several discrete solutions for the B2B division, allowing it to accept most payments, process them promptly, and systematize them. There are functions to automate accounting, tax reporting, supply chain, and personnel management. All financial flows are aggregated in an account that can be accessed via a mobile app. Given all these advantages, many experts argue that the service has no full-featured alternative.
- It is simple to set up and manage, and the service integrates easily into the system regardless of its technology stack.
- High-speed operation with instant or almost instant transactions of all types.
- FastSpring solutions are available in 200 regions globally and support 15 languages (with full localization).
- Service allows you to accept and make payments in 20 currencies without restrictions or limits.
- The universal application aggregates financial flows, providing absolute control and complete transparency.
- Built-in options and modules to increase the conversion rate of the online store.
- The function of recurring and regular payments (for example, if users subscribe).
- The service is only suitable for digital distribution stores.
- The system offers two pricing plans where the business owner pays 8.9% or 5.9% +95 cents on the transaction value, which is quite a lot.
- Some functions are adapted to specific services. For example, communicating with clients by email implies Mailchimp; you can also set up other email services, but this is more complicated.
TU Expert Verdict
Chief Analytics Officer
FastSpring offers electronic payment processing for software and digital goods sellers, supporting transactions in 20 currencies and operating across 200 regions. The service is built as a cloud-based SaaS platform, enabling instant or near-instant electronic payments and card transactions, with integration into existing business systems and a customizable account interface. Users benefit from features for automating accounting, tax reporting, and supply chain management, with all financial activity aggregated in a mobile dashboard for transparency and control.
Drawbacks include the high transaction fees of either 8.9% or 5.9% plus $0.95 per transaction, which exceed the market average, and the platform is only suitable for businesses engaged in digital distribution rather than individuals or those seeking investments. Some business functions, such as custom email service integration, require additional setup complexity. FastSpring may be suitable for businesses needing a comprehensive digital payment solution, but less appropriate for companies prioritizing low transaction costs or requiring deep infrastructure customization.
FastSpring Summary
| 💼 Main types of accounts: | One type of account, customizable individually |
|---|---|
| 💱 Multi-currency account: | Yes, many choices |
| Deposit terms and conditions: | All remote |
| Loan terms and conditions: | By transaction fee |
| ☂ Deposit insurance: | 8.9% or 5.9% + 95 cents per transaction |
| 👛️ Savings options: | Data aggregation, monitoring, reporting, conversion tools, accounting, and taxation automation |
| Types of payment: | Electronic payments and transfers, Visa/MC cards |
| ➕ Additional features: | B2B solutions, risk management options, fraud protection |
FastSpring.com provides the customer with all of its current features. The service has one type of user account, but you can connect different rates for transaction fees. Note that some features will require additional fees. Third-party commissions and fees cannot be calculated in advance, they are provided by support at the request of the client or will be displayed in the user’s account.
A comprehensive FastSpring review shows that the service is highly stable regardless of the load. It integrates with any technical stack and, if everything is OK on the side of the services used, there will be no failures. The system has the proper level of adaptability, and it can be connected to different solutions, including CRM. At the same time, FastSpring doesn’t load the technical capacities of the organization because it operates in the cloud.
Another important point is the dashboard in the mobile app, which accumulates data from all financial and communication channels. FastSpring has a built-in system of interaction between businesses and clients. You don't have to use it specifically, but it's a customized, ready-to-use solution that's proven to be practical in thousands of successful implementations. The review by experts of the Traders Union highlighted FastSpring’s excellent scalability, but also its dependence on business architecture. As a consequence, large organizations built on a monolithic infrastructure may have difficulty implementing some tasks.
FastSpring Commissions & Fees
FastSpring charges a commission for each transaction, similar to those charged by other electronic payment systems. FastSpring charges 8.9% or 5.9% + 95 cents per transaction, depending on the transaction. It's higher than the market average, and most competing systems offer a better price. However, FastSpring fees are reasonable for what it offers.
Fees are not charged for many of the additional services this system provides. For example, the user can connect to a company cash register to receive payments, and this is free. Subscription management, billing, connection to regional and global taxation systems, risk management, and compliance are all included in the standard stack, for which there is no extra charge. Whereas, many FastSpring competitors have similar options that are fully or partially chargeable.
The service may charge other fees, but only for the connection of specialized functions. Full access to these features is available to the user after registration and differs by region. Contact support to find out the price of a particular service or the full stack. For some options, the data is provided in the Personal Account of the user.
The Traders Union also compared FastSpring’s fees with similar types of fees on other e-payment systems.
| Verifone | Skrill | FastSpring | |
| Payment commission | 3.5% + 0.35$, 4.5% + 0.45$ or 6% + 0.60$ per transaction | Depend on the transaction type and region | 5.9% + $0.95 |
| Deposit commission | Depending on the payment method | Depend on the transaction type and region | 2% (max $20) |
| Withdrawal commission | Depending on the payment method | Depend on the transaction type and region | $5 |
| Commission for international transfers | Depending on the payment method | Depend on the transaction type and region | 8.9% |
FastSpring.com offers a full range of payment services for businesses involved in the distribution of software and other digital goods. The service is based on the universal payment acceptance system, which operates in 200 countries and accepts payments in 20 currencies. Transfers from electronic systems and debit and credit cards are available. Besides the integration of the payment system, FastSpring customers get solutions for various automated business processes including tax reporting. All data is aggregated in a dashboard mobile application, which is installed on Android and iOS gadgets for free. The system works as a SaaS and is easily scalable.
Investment Options
FastSpring is an electronic payment system with an extensive list of features designed for stores that sell software and digital goods via the internet. The system doesn’t work with individuals and doesn’t provide investment or other capital-growth solutions, excluding features to increase conversions.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Contacts
| Foundation date | 2005 |
|---|---|
| Regulation | GDPR |
| Official site | https://fastspring.com/ |
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