How FastSpring works
What is FastSpring
FastSpring is a global e-commerce platform that provides payment processing and subscription management services for online businesses. It enables companies to sell digital products, software, and services directly to customers worldwide.
FastSpring offers a range of features and tools to facilitate online transactions and streamline the sales process. Here are some key aspects of the FastSpring payment system:
- Payment Processing: FastSpring supports multiple payment methods, including credit cards, PayPal, bank transfers, and various local payment options. It handles the entire payment process securely, from collecting customer payment information to processing transactions and handling refunds.
- Global Payments: FastSpring supports transactions in multiple currencies and offers localized checkout experiences for customers worldwide. This allows businesses to sell their products and services to customers in different countries, overcoming barriers such as currency conversions and language preferences.
- Subscription Management: FastSpring includes subscription management functionality, allowing businesses to set up and manage recurring billing for subscription-based products or services. It supports various billing frequencies, such as monthly, quarterly, or annual subscriptions, and provides tools for managing customer subscriptions, upgrades, downgrades, and cancellations.
- Revenue Optimization: FastSpring provides features to help optimize revenue generation, such as offering upsells, cross-sells, and discount codes during the checkout process. It also supports flexible pricing models, allowing businesses to implement free trials, introductory pricing, and volume discounts.
- Digital Delivery: FastSpring facilitates the delivery of digital products and software licenses to customers upon purchase. It can securely distribute software downloads, license keys, serial numbers, or access credentials, ensuring a smooth and automated delivery process.
- Tax and Compliance: FastSpring helps businesses handle tax calculations and compliance with international tax regulations. It automatically calculates and collects sales tax, value-added tax (VAT), or goods and services tax (GST) based on the customer’s location, simplifying the complexities associated with tax management.
Overall, FastSpring is a comprehensive e-commerce platform that simplifies the payment and subscription management processes for businesses selling digital products and services online. It aims to provide a seamless and secure buying experience for customers while offering businesses the tools they need to manage their sales efficiently.
The history of FastSpring
FastSpring was founded in 2005 by Dan Engel and Ken White, with the goal of providing a user-friendly and comprehensive e-commerce platform for software and digital goods. The company was established in Santa Barbara, California, and initially focused on serving independent software vendors (ISVs) and small businesses.
In its early years, FastSpring primarily provided payment processing services and tools for software developers and digital content creators. The platform gained popularity for its simplicity and flexibility, allowing businesses to sell their products online without the need for extensive technical knowledge or complex integrations.
Over time, FastSpring expanded its offerings to include subscription management, global payment processing, and additional features tailored to the needs of online businesses. The platform evolved into a full-service e-commerce solution, providing end-to-end support for companies selling digital products, software licenses, SaaS (Software as a Service), and other online services.
FastSpring’s growth and success were fueled by its commitment to customer satisfaction and its focus on providing a superior user experience. The company emphasized responsive customer support and continually improved its platform based on user feedback and evolving market demands.
In 2013, FastSpring underwent a significant change in ownership when it was acquired by Digital River, a leading global e-commerce solutions provider. This acquisition helped FastSpring expand its global reach and access to resources, enabling further development and innovation in its platform.
In 2019, FastSpring underwent another ownership change when it was acquired by Accel-KKR, a leading private equity firm specializing in software and technology-enabled businesses. This acquisition provided FastSpring with additional support and investment to continue its growth and expand its capabilities.
Today, FastSpring serves thousands of businesses worldwide, ranging from individual entrepreneurs to large-scale enterprises. Its platform is known for its ease of use, robust features, and focus on supporting digital commerce. FastSpring continues to evolve and adapt to the changing needs of the e-commerce landscape, aiming to empower businesses to sell their products and services online efficiently and effectively.
How FastSpring works
FastSpring works as an e-commerce platform that facilitates online transactions and helps businesses sell their digital products, software, and services. Here’s an overview of how FastSpring typically works:
- Integration and Setup: Businesses integrate FastSpring into their website or online store by adding FastSpring’s checkout buttons, widgets, or customizing the API integration. This allows customers to make purchases directly from the business’s website.
- Product Setup: Businesses define their products or services in the FastSpring dashboard. This includes providing product descriptions, pricing, images, and specifying any additional options or variations. They can also set up subscription plans if they offer recurring billing.
- Checkout Process: When a customer decides to purchase a product, they proceed to the FastSpring-hosted checkout page. This page is customized to reflect the branding of the business. During the checkout process, customers can review their order, enter their payment details, and select their preferred payment method.
- Payment Processing: FastSpring securely handles the payment process, collecting customer payment information and processing the transaction. It supports various payment methods, including credit cards, PayPal, and local payment options. FastSpring manages payment gateways and ensures compliance with industry-standard security measures.
- Digital Delivery: After the payment is successfully processed, FastSpring facilitates the delivery of the purchased digital products or services. This may involve providing instant download links, license keys, access credentials, or directing customers to a secure download area on the business’s website.
- Subscription Management: If the business offers subscription-based products or services, FastSpring handles recurring billing. It automatically charges customers at the specified intervals and manages subscription renewals, upgrades, downgrades, and cancellations. Customers can also access their subscription management portal to make changes to their subscriptions.
- Order Management: FastSpring provides businesses with a comprehensive order management system. This allows businesses to view and manage customer orders, track revenue, generate invoices, handle refunds or returns, and access sales analytics.
- Localization and Compliance: FastSpring supports global sales by handling currency conversions, localized checkout experiences, and tax calculations. It automatically calculates and collects applicable taxes, such as sales tax or VAT, based on customer location, simplifying compliance with international tax regulations.
- Customer Support: FastSpring offers customer support services to assist businesses and their customers. It provides support for payment-related issues, order inquiries, and general assistance throughout the purchase process.
Overall, FastSpring acts as a backend e-commerce infrastructure, seamlessly integrating with businesses’ websites and providing a secure and user-friendly buying experience for customers. It handles payment processing, digital delivery, subscription management, and other essential e-commerce functions, allowing businesses to focus on their core offerings while leaving the technical aspects to FastSpring.
Can FastSpring be trusted
Yes, FastSpring is generally considered trustworthy and reliable. Here are a few reasons why FastSpring has gained the trust of businesses and customers:
- Longevity and Experience: FastSpring was founded in 2005 and has been operating in the e-commerce industry for over a decade. Its long-standing presence and track record demonstrate its stability and commitment to serving businesses and customers.
- Established Customer Base: FastSpring serves thousands of businesses worldwide, ranging from small startups to large enterprises. Its customer base includes reputable companies across various industries, indicating a level of trust and satisfaction among its clients.
- Secure Payment Processing: FastSpring prioritizes security and employs industry-standard security measures to protect customer payment information. It is PCI-DSS compliant, which means it adheres to the strict standards set by the Payment Card Industry Data Security Standard.
- Strong Data Privacy: FastSpring is committed to protecting customer data and follows robust data privacy practices. It complies with applicable data protection regulations, such as the General Data Protection Regulation (GDPR), to ensure the privacy and security of customer information.
- Reliable Infrastructure: FastSpring operates on a robust and scalable infrastructure, ensuring stability and reliability during peak transaction periods. This helps businesses minimize downtime and ensures a smooth purchasing experience for customers.
- Responsive Customer Support: FastSpring provides customer support services to assist businesses and customers with their inquiries and issues. Their support team is known for being responsive and helpful, aiming to resolve any concerns or questions promptly.
- Positive Reputation: FastSpring has generally received positive reviews from its users, including businesses and customers. Many users appreciate its user-friendly interface, reliable payment processing, and comprehensive e-commerce features.
While FastSpring has established itself as a reputable e-commerce platform, it’s always a good practice to conduct your own research and due diligence before making any business decisions. Consider factors such as your specific business needs, industry requirements, and customer preferences when evaluating the suitability of any payment system or e-commerce platform.
Does FastSpring charge a fee
Yes, FastSpring charges fees for its services. The specific fee structure may vary depending on factors such as the volume of transactions, the types of products or services being sold, and any additional features or services utilized. The fees typically cover payment processing, subscription management, currency conversion, and other e-commerce services provided by FastSpring.
The exact fee details can be obtained by contacting FastSpring directly or by reviewing their pricing information on their official website. It’s important to carefully review and understand the fee structure and terms before deciding to use FastSpring or any other payment system. This will help you accurately estimate the costs associated with using their services and ensure it aligns with your business requirements and budget.