Stripe vs. Adyen: How to choose the right vertical SaaS payments stack

If you’re building a SaaS platform and looking for the best embedded payments software providers, Stripe and Adyen are probably at the top of your shortlist. Both are big names in payments, both promise global reach, and both have the features to help you accept and move money.

But while they solve similar problems, they take very different approaches.

In this Stripe vs Adyen comparison, we’ll walk you through their key features, strengths, and limitations so you can decide which stack fits your vertical SaaS best. And if neither feels like the right fit for your vertical SaaS platform, we’ll introduce a third option purpose-built for you.

TL;DR: Comparing Stripe and Adyen

Here’s a quick overview of how Stripe and Adyen compare:

• Stripe wins on speed and simplicity: fast onboarding, polished APIs, and predictable flat-rate pricing. Plus, Stripe goes well beyond payments with an extensive library of developer tools and prebuilt components.

• Adyen is built for scale: enterprise-grade infrastructure, direct acquiring, and lower costs at high volumes.

But both were designed before the vertical SaaS boom. They take a one-size-fits-all approach that struggles with multi-party payouts, flexible monetisation, and industry-specific compliance. That’s where Embed comes in.

Want the full comparison between Stripe and Adyen? Keep reading below.

Stripe vs. Adyen: Key similarities and differences

On the surface, Stripe and Adyen solve the same problem: enabling businesses to accept payments. But they come at it from very different angles.

Stripe uses an aggregator model: your merchants (no matter how small) can onboard instantly under Stripe’s umbrella. That makes for quick activation, but you’re tied to Stripe’s compliance and pricing templates.

Adyen can also support an aggregator setup, but it generally refuses to underwrite smaller merchants directly. Instead, Adyen requires every business to have a dedicated account (or pushes the underwriting responsibility onto the platform acting as the aggregator). This creates stability and better pricing at scale, but the trade-off is a slower onboarding process and more rigid policies for smaller players.

Below, we’ll break down how Stripe and Adyen compare across 5 key categories:

• Platform features

• Payment methods and global reach

• Pricing and monetisation options

• Compliance and risk management

• Flexibility vs vendor lock-in

Platform features

Stripe has built its reputation on being developer-friendly. Its APIs and pre-built components let product teams launch new payment flows in days rather than weeks.

For example, if you’re running a new booking SaaS, you can plug in Stripe Checkout and start taking card payments without reinventing the wheel. But that same convenience comes with limits: if you need to design phased onboarding for merchants in agrotech or electric vehicle charging, Stripe’s templates can quickly feel constraining.

Stripe’s key features:

• Developer-friendly APIs and components: Build custom flows quickly with Elements, Checkout, and extensive documentation

• Wide payment method support: Accept cards, wallets, ACH, and 100+ local methods across 135+ currencies

• Transparent flat-rate pricing: Simple pay-as-you-go model with no monthly fees, ideal for startups and smaller platforms

• Add-on tools: Billing, invoicing, subscription management, and fraud protection (Stripe Radar) available as extras

On the other hand, Adyen is heavier, but its unified commerce model (where online, in-app, and in-person payments run through one contract and one integration) is a big draw for enterprise SaaS.

A field services platform operating across Europe, for instance, could use Adyen to ensure that card payments collected on-site by technicians and recurring payments from maintenance contracts all flow through the same reporting system. The challenge is that this power often requires significant in-house resources to configure.

Adyen’s key features:

• Unified acquiring and direct connections: Single contract and integration for online, in-app, and in-person payments

• Dedicated merchant accounts: Every merchant gets its own account, paired with Interchange++ pricing for lower costs at scale

• Advanced risk and fraud tools: RevenueProtect offers configurable rules, real-time scoring, and native dispute management

• Extensive local coverage: Support for 250+ payment methods and 150+ currencies with strong presence across Europe, Asia, and Latin America

👉 The verdict: Stripe is best for speed and simplicity, while Adyen offers more power at scale. But neither flexes easily to vertical SaaS workflows.

Payment methods & global reach

For SaaS platforms expanding internationally, the breadth of payment methods and currencies supported can make or break customer conversion. Stripe and Adyen both position themselves as global players, but their strengths differ.

Stripe supports over 100 payment methods and 135+ currencies. Its global coverage is strong in the US, and it offers a simple way to add popular wallets and card schemes. However, its localisation in Europe isn’t as comprehensive. This can create friction if your user base spans multiple regions with varied payment preferences.

Adyen, on the other hand, offers more than 250 payment methods and 150+ currencies, with local acquiring licenses across Europe, North America, Brazil, Hong Kong, Australia, New Zealand, and Singapore. This makes it a better fit for platforms where local methods (like iDEAL in the Netherlands or Boleto in Brazil) are essential to user adoption.

👉 The verdict: If your platform is US-centric and you want simple access to global methods, Stripe’s breadth is usually enough. But if your growth depends on deep localisation and multi-market coverage, Adyen’s wider network is the stronger option.

Pricing & monetisation options

Pricing models can shape how SaaS platforms monetise payments. Stripe and Adyen both take distinct approaches, each with trade-offs.

While Stripe does offer Interchange++ pricing for larger merchants, it’s not the default and is less accessible for smaller SaaS platforms. Most platforms are placed on Stripe’s flat-rate model (e.g., 1.75% + €0.30 per domestic card transaction) which  keeps things predictable but often hides markups and limits how you design more sophisticated monetisation strategies.  Over time, those hidden markups can make Stripe one of the most expensive options, especially for platforms with complex flows or high transaction volumes.

On the other hand, Adyen works with Interchange++ pricing. This means platforms pay the actual interchange fee plus a processing fee (e.g., €0.11 per transaction). For companies processing millions in volume, this can lead to significant savings. The downside is complexity: costs are less predictable, and the model is often tied to volume commitments and contractual minimums that smaller SaaS companies may struggle to meet. In some cases, Adyen also supports blended pricing, though this is less common and typically reserved for enterprise clients.

👉 The verdict: Stripe’s flat-rate pricing is best for predictability and speed, while Adyen’s Interchange++ model rewards platforms with scale. If you want to monetise payments flexibly across segments or tiers, however, neither option fully delivers.

Compliance & risk management

For vertical SaaS platforms, compliance isn’t optional; it’s central to all operations. From KYC to safeguarding, the way a provider handles risk can determine whether you can operate confidently in regulated industries.

Stripe offers the essentials: PCI compliance, sanctions checks, and fraud protection with Stripe Radar. For many generic SaaS companies, that’s sufficient. But for platforms operating in sensitive verticals like agrotech or EV charging platforms, Stripe’s rigid onboarding and limited options for advanced compliance workflows can quickly become a blocker.

Adyen provides more robust risk and compliance infrastructure. Its RevenueProtect suite allows configurable fraud rules and real-time risk scoring, and it also offers native dispute management. This makes it a better fit for enterprise SaaS platforms dealing with high volumes or industries with tighter regulations. But there’s a flip side: since Adyen holds a full banking license, it is notoriously risk-averse. That translates into stricter underwriting, rigid policies and extensive onboarding requirements that slow down activation for smaller or fast-moving platforms. 

👉 The verdict: Stripe keeps things light and simple, making it suitable for platforms with standard compliance needs. Adyen offers enterprise-grade protection, but at the cost of flexibility. For vertical SaaS with unique compliance requirements, neither solution fully covers the edge cases.

Flexibility vs vendor lock-in

The real question for many SaaS founders isn’t just “Can I go live?” but “Will this still work when my business model evolves?”

Stripe’s strength lies in its simplicity, but that simplicity comes with constraints. Its aggregator model means your merchants fit into Stripe’s templates, and your pricing flexibility is limited. As you scale, you may find yourself building workarounds rather than designing flows that match your vertical.

Adyen gives you more control with dedicated merchant accounts, granular reporting, and advanced risk management. But the trade-off is rigidity. Its infrastructure is designed for enterprises, and contracts are not always friendly to fast-growing SaaS platforms experimenting with new workflows.

👉 The verdict: Stripe locks you into its simplicity; Adyen locks you into its enterprise structure. Both paths work, but neither is designed to adapt fluidly to vertical SaaS needs.

The verdict: which payments platform to use for your vertical SaaS

So where does this leave you? If you’re just getting started, Stripe is often the pragmatic choice. You’ll get live fast, keep integration costs low, and won’t need to think too much about payments upfront.

If you’re already operating at scale, Adyen’s unified acquiring and Interchange++ model can deliver meaningful savings and enterprise-grade reliability.

But if your platform needs complex fund flows, flexible monetisation, or vertical-specific compliance, neither option is a perfect fit. That’s where Embed comes in.

Embed: payment infrastructure built specifically for software platforms

What if we told you there was another way? One that gives you the speed of Stripe, the enterprise-grade control of Adyen, but without forcing your business into a one-size-fits-all box.

A payments stack built specifically for vertical SaaS, with flexibility, compliance, and monetisation baked in from day one.

That’s not wishful thinking. That’s Embed.

Here’s what makes Embed different:

Custom-fit infrastructure for vertical SaaS

Most providers hand you generic templates and expect you to adapt. Embed flips that. We design payments infrastructure around your workflows from day one, whether that means orchestrating multi-party payouts, managing balance accounts, or layering in industry-specific compliance.

Hive multi-ledger system

Payments in vertical SaaS are rarely linear. Hive is our native multi-ledger architecture that handles complex fund flows and multi-party payouts without duct-taped workarounds. It’s purpose-built to simplify what’s usually messy and error-prone.

Phased merchant onboarding

Your merchants shouldn’t have to slog through twenty fields of data before earning their first euro. With phased onboarding, they can start transacting in hours, while full KYC is layered in only when volumes require it. Fast go-lives, without compromising compliance.

Balance accounts for clean reconciliation

Every merchant gets a unique virtual IBAN that’s directly tied into a balance account architecture. That combination makes reconciliation clean, payouts straightforward and it gives platforms a real-time view of funds across merchants and sub-accounts. No more chasing down mismatched transactions in spreadsheets. Just clean, auditable flows.

Hyper-flexible pricing control

Stripe locks you into flat-rate pricing, Adyen into Interchange++. Embed lets you run any model you want: tiered, blended, and, yes, even Interchange++. You can even set fees per segment or use case, turning payments into a real revenue lever.

Partnership, not just a vendor

With Embed, you’re not left to figure things out on your own. Our payments experts work with you side-by-side, co-designing a stack that scales with your platform. Think of us as your payments partner.

Ready to stop bending your product to fit someone else’s payments stack? Talk to an Embed payments expert and discover how custom-fit infrastructure can make payments your competitive edge.