Don’t Be the Bank – Payment Processing Wisdom from My Conversation on The Unforget Yourself Show
Navigating the Wild World of Payments
Running a business is hard enough without dealing with payment headaches—failed transactions, disputes, compliance issues—it can all get overwhelming fast. That’s why I jumped at the chance to join Mark and Katie on The Unforget Yourself Show to talk about the ins and outs of payment processing. This podcast is a goldmine for entrepreneurs who want real talk, no fluff, and actionable advice—and that’s exactly what we covered.
I’ve spent over two decades helping business owners simplify payments, stay compliant, and most importantly—keep the money they’ve worked so hard to earn. And if there’s one thing I always tell clients, it’s this: don’t act like the bank.
sponsored by
From Chef to Payment Processing Pro
Believe it or not, I didn’t start in payments—I started in the restaurant industry. I spent years in the kitchen, cooking great meals and focusing on customer experience. That same “service-first” mindset is what led me into payment processing. I didn’t want to just sell credit card terminals—I wanted to help businesses run smarter and safer.
Since launching Nationwide Payment Systems in 2001, we’ve gone from selling card machines to offering high-risk merchant support and compliance solutions. My mission? To help business owners avoid costly mistakes and protect their revenue.
The Big No-No: Don’t Be the Bank
One of the biggest mistakes I see entrepreneurs make is acting like a bank for their customers.
If you’re letting clients pay in long-term installments without solid contracts or safeguards, you’re putting yourself at serious risk. Coaches and consultants—listen up! If you’re financing your own services with extended payment plans, you have no recourse if the client suddenly cancels. You can’t force a credit card payment the way a bank can.
Instead, set yourself up for success with better structuring:
• Get more money upfront
• Offer smaller trailing payments
• Ensure clients sign clear, legally enforceable agreements
This protects your income and keeps your cash flow predictable.
Click-to-Cancel: A Game Changer for Subscriptions
If you offer subscriptions or recurring payments, you need to know about Click-to-Cancel.
This California-born regulation has been picked up nationwide by the FTC, and it requires that every website offering recurring payments must have an easy way to cancel.
Sounds simple, but many entrepreneurs miss this step, and it can lead to major problems:
✅ Costly chargebacks
✅ Payment processor account shutdowns
✅ Lost revenue
If a customer disputes a charge and you don’t have a simple cancellation process, you’ll lose the case—guaranteed. Whether or not you take payments directly on your site, make cancellation clear and easy.
👉 Listen to my full episode on The Unforget Yourself Show to hear all the details: Spotify Link
Protect Your Business with Clarity & Compliance
I can’t tell you how many business owners lose money simply because they don’t have proper documentation:
❌ No privacy policy
❌ No refund policy
❌ No digital signature authentication
These might seem minor, but they’re major red flags to payment providers—and they can lead to frozen funds or account bans.
Here’s how to safeguard your business:
✅ Use e-signature platforms like DocuSign or PandaDoc
✅ Clearly list terms and refund policies on your website
✅ Require checkbox acknowledgments during checkout
✅ Structure service agreements for realistic delivery & cancellation terms
When it comes to payments, clarity is protection.
Why Stripe & PayPal Won’t Have Your Back
Stripe and PayPal might seem convenient, but they don’t offer real support when things go wrong. Their model prioritizes compliance over individual businesses. If something goes sideways? They won’t help—you’ll just get shut down.
At Nationwide Payment Systems, we do things differently. My team actually works with business owners to troubleshoot chargebacks, fix compliance issues, and strengthen payment systems before problems arise.
Final Thoughts: Smart Payment Processing Saves You Money
At the end of the day, it’s not just about making money—it’s about keeping it.
Too many entrepreneurs work hard to generate sales only to lose it all to disputes or bad payment setups. That’s why I focus on proactive protection:
🔹 Clear payment terms
🔹 Compliance-first strategies
🔹 Hands-on business support
If you’re frustrated with your payment processor—or worried about getting shut down—I’m here to help.
📍 Connect with me on LinkedIn
📍 Visit Nationwide Payment Systems for a consultation
Want More Business Wisdom?
Check out The Unforget Yourself Show with Mark and Katie—a no-fluff podcast where entrepreneurs talk real challenges, real wins, and everything in between.
🎧 Listen to my episode here: Spotify Link
CLICK HERE TO FIND MORE ABOUT OUR PROGRAMS
FAQ: Frequently Asked Questions
Why should business owners avoid acting like a bank?
If you allow customers to pay in extended installments without a solid contract, you take on all the risk. If they decide to cancel mid-way, you can’t force payment like a bank would. Instead, structure payments with more money upfront and smaller trailing payments, backed by clear agreements.
What is the Click-to-Cancel law, and how does it affect me?
The Click-to-Cancel law, initially in California but now an FTC mandate, requires that every business offering recurring payments has a clear and easy way to cancel. Without this, you risk chargebacks and account shutdowns from platforms like Stripe or PayPal.
What mistakes cause payment providers to freeze funds or shut accounts?
Common mistakes include:
- No privacy policy or refund policy on your website
- No digital signature authentication for agreements
- Poor compliance practices with Visa/Mastercard rules
Fix these with clear documentation, e-signatures, and transparent checkout processes.
How do I protect my revenue from chargebacks?
To minimize chargebacks:
✅ Use legally enforceable agreements
✅ Require customers to check a box acknowledging terms
✅ Implement easy cancellation options for subscriptions
✅ Provide great customer support to resolve issues proactively
Why are Stripe and PayPal risky for businesses?
These platforms prioritize compliance over individual businesses. If there’s an issue, they won’t help you—they’ll just shut you down. Nationwide Payment Systems offers hands-on support to protect your business and troubleshoot payment problems.
