Top 5 payment mistakes made by startups
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Transcript of Top 5 payment mistakes made by startups
Top 5 payment mistakes made by startups
By Sneha Menon
Startup Advocate @braintree_dev
@braintree_dev @snehamenon
A Startup Integrates With a Payment Processor and You’ll Never Guess what Happened Next…
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Your business model is denied
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#1
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Risky Business
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Selling Diamonds
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Money Lending
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CRM Systems
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SaaS for Cat Gif’s
Your business model is too risky
Execute a document: Alcohol Addendum
Talk to your payment processor to figure out the documentations and processes you need to follow - specially if you’re in a high risk category
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Not accepting multiple payment types
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#2
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Adding PayPal as a payment option leads to conversion of 15-20%
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Not Reading the fine print of your fee structure
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#3
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Extra Fees*
Bank Withdrawal Fees
PCI Compliace Fees
Batch Processing Fees
Pro-tip: Choose flat rate pricing
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Limited Fraud Protection and Security
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#4
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Fraud
#1 A stolen card being used to purchase goods
#2 Carding attacks where a fraudster runs multiple stolen cards to determine their validity
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Basic Advanced
Customizable set of AVS, CVV, and risk threshold rules
Fixed set of rules including geolocation and device information
No Support
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#5
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Startup “X” did not get support at the right time and you’ll be gobsmacked by what happens next…
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#1 X’s account was placed under limitation #2 X couldn’t receive any payments #3 X’s customers got angry #4 A social media storm was created #5 X lost credibility
Go with a payment processor that has phone support
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#1 Business model acceptance
#2 Multiple payment options
#3 Extra Fees
#4 Fraud protection and security
#5 Customer support

Sneha Menon Startup Advocate
@braintree_dev @snehamenon
braintreepayments.com