This document discusses the top 5 payment mistakes made by startups. They are: 1) Not having their business model approved, 2) Not accepting multiple payment types, 3) Not reading the fine print of fee structures, 4) Having limited fraud protection and security, and 5) Lacking customer support. The document provides advice on how to avoid these mistakes when choosing 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. 
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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