Kabbage Review

In a Nutshell

Kabbage Payments is an invoicing and online payments system targeted at US-based small business owners. It features an online payment gateway that is powered by Stripe. Users are also able to create unique payment links for their clients. For US businesses that want to get paid quickly and online, Kabbage is the best choice on the market.

pros

  • Low commission per transaction
  • Users aren’t tied into online contracts

cons

  • For US-based business only
  • Users must have an American bank account

Kabbage Kabbage Visit Site

Kabbage Payments at a Glance

Best for: Business that want to get paid online

Price range: The charge is 2.9 percent of the invoice value plus a $0.25 flat fee per card paymenе

Apps: Via the website only

Features and Add-ons

Next Day Deposits

Kabbage promises that all inbound payments made through invoices issued with the platform will be processed within 24 hours. The Kabbage platforms connects to the user’s bank account—although Kabbage guarantees that its team does not have any access to users’ financial information.

Follow Up System

Kabbage contains a mailing functionality to help users follow up with overdue accounts. 

Custom Pay Link

Kabbage allows users to create a unique link for their business to accept online payments with. Research shows that businesses that offer their customers the ability to accept online payments end up receiving money quicker. The link can then be distributed by SMS, email, or any other means. Users can pay online for any amount up to $10,000 per transaction. The company is also currently working on an integration with a point of sale (POS) system that will allow customers to clear the invoices in real brick and mortar outlets. At the moment, if users receive a payment through a non-online method they can simply manually mark the invoice as paid.

Fully Customizable Invoices

Users are also able to upload their business logo in order to create branded invoices. The invoices will all contain the link that allows customers to pay online whether they are issued using the default template or have been customized to fit the business’s design profile.

Refund Management

Kabbage contains the ability to initiate any refunds directly from the online system. In order to do this, users simply click on the issue refunds option. Refunds generally take 24 to 48 hours to post to the customer’s bank account.

Chargeback Management

Occasionally, most businesses need to deal with unhappy customers that initiate chargebacks to try to force a refund. If this happens, Kabbage Payments responds to the dispute on behalf of the customer. If additional documentation is required, Kabbage reaches out to users in order to request the documents. The service is provided free of charge. However, Kabbage does keep track of how many chargebacks are initiated against a merchant. If the amount is deemed to be excessive, the merchant’s account might be in jeopardy.

Tax Compliance

Kabbage allows users to configure the tax on a per invoice level. A list of applicable taxes can be populated using a drop down list that is presented for each item added to the invoice. Ultimately, however, users need to keep track of their own tax compliance and tally up how much they owe with the help of an accountant. 

Payment Options

Kabbage is principally designed to help users bill clients that pay online using Stripe. Once clients pay their invoices, users should see the money in their bank account within 24 hours. Kabbage allows users to connect any bank account that is on the ACH system to their user account. In the event that the user needs to change or update their receiving account, they can simply reach out to Kabbage support who can make the necessary changes on the backend. 

Pricing/Costs & Fees

Kabbage Payments is an independent service that can be accessed by any US-based business or sole tradership that wants to bill its customers online. Users do not have to be signed up for Kabbage Funding in order to use the product (Kabbage Funding is offered as a separate service). 

There are no monthly or recurring charges to use Kabbage Payments. Instead, the service bills a 2.9% commission (plus a flat $0.25 fee) for each transaction processed through it. 

Kabbage Kabbage Visit Site

Usability

Kabbage is a very easy to use service. After signing up, users are automatically entered into a questionnaire that asks them key details about their business and prompts them to connect a bank account on the ACH system. Only after completing all the setup steps are users able to access the platform. 

Kabbage also makes it very simple for users to create and issue invoices. After either using the default template or customizing it with their own branding, users simply fill out the fields and send it to the client. They can also download a URL and send it through alternative means, such as by WhatsApp or SMS.

Conclusion

For US based business Kabbage is designed to make it as simple as possible to receive online payments. The service integrates easily with any bank account on the ACH system and allows users to receive paid invoices directly in their bank account within 24 hours. For its speed, use of use, and the fact that there is no fixed monthly fee, this is a great service for small US-based businesses.

Top10.com's editorial staff is a professional team of editors, writers and experts with dozens of years of experience covering consumer, financial and business products and services.

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05 Aug 2020

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