As a small business owner, it’s important to get paid on time. The easiest way to make that happen is to accept credit card payments online. At Pin Payments, we’ve been streamlining credit card payments for small business owners since 2013. In that time, we’ve helped thousands of people get paid faster and more securely. We’ve also seen some situations where card payments aren’t processed ideally.

If you don’t receive card payments carefully, you can compromise your customer’s security. You could also cost your small business valuable time and money. If you’re already accepting credit card payments, or you’re thinking of getting started, here are 5 common mistakes to avoid.

1. Not keeping credit card details secure

Have you ever scribbled down credit card details on a sticky note or piece of paper? Perhaps you’re storing customer details in a clunky Excel spreadsheet? No matter how careful you are, manual storage isn’t secure. If your customer’s details fall into the wrong hands, it could be disastrous for your business. It’s not worth the risk.

Protect yourself, and your customers, by putting card safety first. Look for providers that have been assessed and certified against the Payment Card Industry (PCI) standard. When you use a PCI compliant provider, you can receive card payments safely – and your customers can purchase with confidence.

2. Not integrating payments from your invoice

If you only accept payments via bank transfer, you might be making life more complicated – for you and your customers. Typing in account numbers and BSBs is time consuming and frustrating. There’s a high chance of human error, which can result in payments going missing. Plus, it means your customers need to have cash on hand.

Look for payment providers that allow you to add a payment link to your invoice, so you can accept credit card payments in a few clicks. That means more flexibility and convenience for purchasers – and a much better chance you’ll get paid sooner. If the provider can integrate with your accounting software, such as Xero, that’s even better.

3. Using a different name when billing your customers

Have you ever checked your credit card statement and seen a transaction you didn’t recognise? In most cases, this is because the trading business is billing under a different name. So, they sell goods as ‘Chocolate Delights’, but bill customers as ‘PK Munroe’. This can be confusing and increases the likelihood of disputes.

To ensure you’re accepting credit card payments that make sense to your customers, check that your trading name is displayed on statements. If in doubt, talk to your provider.

4. Paying too much to accept credit card payments

There are various providers who offer credit card payments, but many come with expensive set-up costs, ongoing fees and lock-in contracts. Some also charge for extras you might not need, like point-of-sale card readers.

As a small business owner, you probably don’t have an unlimited budget, so think about what you need – and what type of commitment you’re willing to make. Make sure you shop around and compare before you sign up.

5. Not offering credit card payments at all

Many small business owners make assumptions about accepting credit card payments. Some worry that software will be difficult to set up. Others assume their customers don’t mind dealing with manual payments.

The truth is, if your business isn’t set up to receive card payments, you could be losing sales. If that’s the case, it could be time to rethink the way you receive payments.

Get started free today

The good news is, it’s fast and easy to receive card payments online. With Pin Payments, you can get set up in less than 10 minutes and start accepting payments within a few days. You don’t need a web developer or technician – but if you need support, our friendly team is just a phone call or email away.

Sign up for an account at Pin Payments and start accepting payments, your way. With competitive pricing, free set-up and world-class customer support, Pin Payments makes getting paid faster, safer and easier than ever.