When starting out, decisions regarding your business may be founded on tackling today’s issues, but what about tomorrow? There are key elements that you’ll want to do right from the very beginning — because you never know if you have the next Uber on your hands.
Mobile has surpassed desktop as the number one way customers find goods and services — in between constant browsing of social media. “People are beginning to use their phones like a remote control to their lives,” says Munchery co-founder and CEO Tri Tran.
Using apps and websites that are designed to be used on a smartphone from the outset, as opposed to a desktop based program’s mobile site, is key.
Stop thinking local
It may be convenient right now to only have options for local payments, but having a plan in place for global growth is vital. Preparing to deal in multiple countries with multiple currencies from the beginning will save a lot of headaches down the track — as is using the right vendor.
“Today, HotelTonight is in 27 countries, working with over 15,000 hotel partners and has 12M+ downloads – and all of our payments flow securely through Braintree, whether they’re in the US dollar, the Mexican peso or the Swiss Franc,” says Sam Shank, CEO and co-founder of HotelTonight.
Data access and ownership
Less expensive data services are often cheaper for a reason. While it may be perfectly fine to manage your own accounts at the beginning, you may find you don’t have the same level of freedom — and even ownership — over your data as you do with a service that is able to grow with your business. Always check that you can take your data with you if you move your hosting to another company.
Listening to your customers
The one thing that will ultimately make or break your business. People want to pay for your product or service in a way that is convenient to them — credit, debit, PayPal, Apple Pay, One Touch — and to have it processed simply and quickly.
HotelTonight‘s Sam Shank says, “Just by adding PayPal, which Braintree’s v.zero SDK enables with a single integration, we saw immediate customer benefits and utilisation. Month-over-month we’re seeing 30% growth in bookings that utilise PayPal alone.”
The hassle of a fraudulent credit card payment can waste your valuable time and resources, and will only become more of a problem as your business grows. Using a secure third party like Braintree for processing payments means you won’t be liable if it happens — they will sort it all out for you. Customers can purchase with trust knowing their payment details are secure.
“When we started out, we knew we wanted to partner with a payment processor because we didn’t want to be liable for data loss or credit card fraud, and we wanted to work with a payment partner who could simplify our PCI compliance,” says and Munchery senior software engineer Andrew Hunzeker-Hesed.
“Now we can send everything to Braintree and get tokens back so we don’t have to deal with sensitive customer data. Having this liability shifted to Braintree has been a blessing. It’s more secure and convenient for us and for our customers.”
To see what Braintree can do for your business, visit the website.
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