What Most Businesses Get Wrong About Payment Processing

After helping dozens of companies optimize their payment systems, I've noticed the same misconceptions come up repeatedly. Let me clear up a few things.

It's Not Just About Transaction Fees

Everyone focuses on finding the cheapest transaction rate. Makes sense—those fees add up quickly. But I've seen businesses choose the lowest-cost provider only to discover they're spending twice as much time on manual reconciliation. A provider charging 0.3% more per transaction but offering proper API documentation and reliable webhook notifications? That's often the better deal.

Integration Takes Longer Than Expected

The sales pitch always makes it sound simple. "Just add our SDK and you're done in an afternoon." Reality? Plan for at least two weeks of development time, plus another week for testing edge cases. And that's if everything goes smoothly.

Key Things to Actually Focus On

• Settlement timing: When do funds actually hit your account? Three-day delays can mess with cash flow planning.
• Dispute handling: How does the provider handle chargebacks? Some make you jump through hoops, others have straightforward processes.
• Reporting capabilities: Can you export transaction data in formats your accounting software understands?
• Support response times: When something breaks at 2 AM on a Friday, can you actually reach someone who can help?

The payment processing landscape in Vietnam has changed significantly over the past three years. More providers, better technology, higher customer expectations. But the fundamentals haven't changed—businesses still need systems that work reliably and don't create extra administrative burden.

I talk to finance managers who spend five hours every week manually matching payments to invoices. That's 260 hours a year on tasks that could be automated. The right system pays for itself pretty quickly when you factor in the time savings alone.