When people talk about running a business, they focus on sales, marketing, and product development. But payments and banking? That’s usually ignored—until something goes wrong.
I recently spoke with Mirror Review about why payment and banking should be a core part of business strategy, not just a side concern.
In the interview, I break down why so many businesses struggle with banking and payment setups and how these issues can spiral out of control if not handled properly.
One of the biggest mistakes companies make is trusting a “free” payment advisor or broker, not realizing they’re actually paying for it in ways they don’t see. These so-called advisors work on commission, meaning they push businesses toward providers that pay them the most, not the ones that actually fit your business model. The result? Higher fees, frozen funds, compliance headaches, and providers that don’t support your growth.
Another overlooked issue is that the ones handling payments and banking tasks are not adequately trained to do so. Most businesses assume their finance teams can manage it, but payments require a completely different skill set (UX, data security and technology to mention a few). This lack of expertise leads to operational risks, hidden costs, and failed banking relationships.
Businesses can’t afford to treat payments as an afterthought. They need a structured, scalable, and risk-free banking and payment strategy that works for them—not for the intermediaries profiting off their setup.
If you're a business owner, CFO, or anyone dealing with payments, this interview is essential reading.