Major mistakes made by startups before integrating with a payment processor

1. Top 5 payment mistakes made by startups
By Sneha Menon
Startup Advocate
@braintree_dev
@braintree_dev @snehamenon

2. A Startup Integrates With a
Payment Processor and You’ll Never
Guess what Happened Next…
@braintree_dev @snehamenon

3. Your business model is denied
@braintree_dev @snehamenon
#1

4. @braintree_dev @snehamenon
Risky Business

5. @braintree_dev @snehamenon
Selling Diamonds

6. @braintree_dev @snehamenon
Money Lending

7. @braintree_dev @snehamenon
CRM Systems

8. @braintree_dev @snehamenon
SaaS for Cat Gif’s

9. Your business model is too risky
Execute a document:
Alcohol Addendum

10. 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

@braintree_dev @snehamenon

11. Not accepting multiple payment types
@braintree_dev @snehamenon
#2

12. @braintree_dev @snehamenon
Adding PayPal as a payment option
leads to conversion of 15-20%

13. 
@braintree_dev @snehamenon

14. Not Reading the fine print of your
fee structure
@braintree_dev @snehamenon
#3

15. @braintree_dev @snehamenon
Extra Fees*
Bank Withdrawal Fees
PCI Compliace Fees
Batch Processing Fees

16. Pro-tip: Choose flat rate pricing

@braintree_dev @snehamenon

17. Limited Fraud Protection and
Security
@braintree_dev @snehamenon
#4

18. @braintree_dev @snehamenon
Fraud
#1 A stolen card being used to
purchase goods
#2 Carding attacks where a fraudster
runs multiple stolen cards to
determine their validity

19. 
@braintree_dev @snehamenon
Basic Advanced
Customizable set of AVS,
CVV, and risk threshold
rules
Fixed set of rules
including geolocation and
device information

20. No Support
@braintree_dev @snehamenon
#5

21. @braintree_dev @snehamenon
Startup “X” did not get support
at the right time and you’ll be
gobsmacked by what happens
next…

22. @braintree_dev @snehamenon
#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

23. Go with a payment processor that has
phone support

@braintree_dev @snehamenon

26. #1 Business model acceptance
#2 Multiple payment options
#3 Extra Fees
#4 Fraud protection and security
#5 Customer support

27. 
Sneha Menon
Startup Advocate
@braintree_dev
@snehamenon
braintreepayments.com