The main value is central customer and subscription database, which muxes multiple payment methods: Credit Card (via Stripe), Amazon payments, and Paypal. This alone has doubled our monthly paying customer growth.
Next it allows us to create invoices, subscriptions and customers data to put in the same database for customers from other channels -- mostly this is our iOS users who have to subscribe via iTunes (due to Apple TOS) -- now we can manage their data in the same place.
It is also an integrated coupon management system, hosts custom styled payment/subscription management pages (as opposed to just a tiny payment widget like Stripe), supports more flexibility like trial periods, switching between subscription plans, adding credits to a user's account.
We've moved all our non-iOS customers to Chargebee for about 6 months now, and really happy with it.