Challenge

Founded in 2013 by husband-and-wife duo Oz and Naama Alon, HoneyBook was born from a frustratingly familiar experience: trying to pay their wedding photographer, who insisted on a payment through mailed paper check, rather than an online payment. This outdated approach sparked an idea that would transform how independent service professionals and small businesses manage their businesses.

HoneyBook was established with the core understanding that creative entrepreneurs and service providers, such as photographers, event planners, consultants, and designers, were brilliant at their craft but often struggled with the business side. They were juggling multiple business management tools, chasing paper checks, potentially delaying cash flow, and impacting their ability to invest in their business. Ultimately, these business owners were spending countless hours on administrative tasks instead of doing what they loved.

HoneyBook set out to simplify the way small businesses managed their operations, and while streamlined payments were the initial catalyst, the platform quickly evolved into a comprehensive solution that manages the entire client journey—from initial inquiry and proposals to contracts, project management, and final payment.

Nir Mandel, HoneyBook’s head of core product, shares, “Our goal from the beginning was to give independents complete control over their client relationships, from that first conversation to final payment. When they have that clarity and control, they can focus on what they do best while showing up professionally.”

Solution

As part of its platform launch in 2013, HoneyBook went live with payment capabilities powered by Stripe.

The company used Connect, Stripe’s market-leading solution for platform payments, to make online payments a core part of its offering. Members completely manage all of their billing and collection tasks in one place, including creating customer invoices, sending secure payment links, processing payments, tracking paid invoices, and transferring received funds to their bank accounts.

With Stripe Payments, HoneyBook’s members can offer their own customers multiple ways to accept payments, including credit and debit cards, mobile wallets like Apple Pay and Google Pay, and ACH transfers. In May 2024, HoneyBook upgraded its checkout with the Payment Element, one of Stripe’s embeddable UI building blocks that enables a secure payment experience and allows members to turn on additional payment methods without any coding or development time.

“Our developers love Stripe. Every time there is a new feature, it’s really easy to navigate through the documentation. It’s just so much easier than everything else that we’ve been working with,” Mandel said.

Improving its members’ cash flow was a major priority. HoneyBook wanted to enable instant payouts, giving businesses immediate access to funds for operational needs as soon as an invoice is created. To help members get access to cash faster, HoneyBook uses Stripe Instant Payouts.

This feature allows HoneyBook to instantly pay out funds to a bank account or debit card within 30 minutes, giving members the money they need to purchase equipment, put down deposits on behalf of customers, and pay their bills.

Results

HoneyBook processes more than $8.4 billion in payments with Stripe

Since 2012, HoneyBook has used Connect to help more than 100,000 small businesses send invoices, collect payments, and transfer funds to their bank accounts. To date, HoneyBook has processed more than $8.4 billion in payments on behalf of its members with Stripe.

“The best business systems are the ones you don’t have to think about. Our members see a simple, polished payment experience, while we handle all the complexity behind the scenes. That’s how we give them back their time and mental energy,” says Mandel.

The Payment Element adds flexibility and enhances customer experience

Implementing the Payment Element has made it easier for HoneyBook to support a range of popular payment methods to meet customer demand. As the platform grows and expands into new markets, HoneyBook can add new payment methods as needed with a simple click—no additional coding needed.

“Stripe helps us stay competitive by catering to our members’ needs in how they get paid. As we expand into more payment methods, the fact [that] we use Stripe gives us the ability to just turn it on and move on with our day,” Mandel said.

12.5% of payment volume now flows through Instant Payouts

Instant Payouts has been one of HoneyBook’s most successful new features to date. Instant Payout adoption is accelerating, with 35% year-over-year growth, and over 50% of members who tried Instant Payouts for the first time return to use it again.

“The need to process payments faster is something that came from our members, and Instant Payouts helped us meet their needs,” Mandel said.