All Playbooks
Finix
Embedded Payments
Competitive analysis of embedded payments infrastructure, evaluating Finix against Stripe, Adyen, and Checkout.com.
Competitive Landscape
This playbook analyzes Finix against the major players in the embedded payments space:
StripeAdyenCheckout.comBraintree (PayPal)
Key Findings
Finix's clearest win path is platform control + configurability for US-first vertical SaaS
- Platform Control Advantage — Finix explicitly positions API-based seller onboarding as giving platforms "the most control" over UX, exposing platform-native primitives (Identities, Merchants, Verifications, Split Transfers, Balances) that map well to embedded payments workflows.
- Stripe is the Default for Global Scale — Stripe Connect remains the default "platform PSP" for fast global scaling with conversion-optimized onboarding. However, in fully embedded setups, Stripe manages credit/fraud risk and can communicate directly with connected accounts—reducing platform-level control.
- Adyen for Enterprise Complexity — Adyen is structurally advantaged for enterprise platforms with complex funds flows, mature verification tooling (KYC summary & timeline), and sophisticated payout mechanics (sweeps, configurable settlement delays).
Competitive Wedge
"Control-first embedded payments": API-based onboarding gives platforms UX control—appeals to vSaaS builders who treat onboarding conversion as productOps productivity through dispute workflow features and clear onboarding eventsTransparent platform pricing wins buyers tired of opaque enterprise-only pricing motions
Top Strategic Recommendations
P1Build an "Onboarding Conversion Toolkit" (drop-off reduction system)
P2Publish Verifiable Underwriting Automation + Reason Codes
Feature Recommendations
Based on competitive analysis and market opportunities, these PRDs outline strategic feature bets for Finix: