Copy link to post
ISO Standards in Banking and Payments: What You Need to Know
Payment failures, frozen accounts, and regulatory fines happen more often than you think.
Most people handling payments have no proper training, and MBAs don’t cover this.
ISO standards define how banks process transactions, prevent fraud, and stay compliant, yet most businesses don’t even know they exist. Ignoring them leads to security breaches, lost funds, and costly mistakes.
Read my article for more information: https://www.linkedin.com/pulse/iso-standards-banking-payments-what-you-need-know-viktoria-soltesz-oysdf/?trackingId=GD1c6CfwSEaS9nlJbwWppQ%3D%3D
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.
Read the article: https://www.mirrorreview.com/viktoria-soltesz/?fbclid=IwY2xjawIIHqxleHRuA2FlbQIxMQABHW8gdS1f7QapSkeBaonGR9GCHgvSCwiHg57YFpq1XKwcbt6Kyqv1knwk1g_aem_x66dEqZW7Nm01kR7j0gCyw
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.
Read the article: https://www.mirrorreview.com/viktoria-soltesz/?fbclid=IwY2xjawIIHqxleHRuA2FlbQIxMQABHW8gdS1f7QapSkeBaonGR9GCHgvSCwiHg57YFpq1XKwcbt6Kyqv1knwk1g_aem_x66dEqZW7Nm01kR7j0gCyw
Return to Updates
More Updates From Viktoria
Upvoted by Cristian and 1 other
Upvoted by 2
Upvoted by Cristian
Upvoted by 1
Viktoria S.
Mar 6, 2025
"Oh come on, it just a bank....!"
You probably don’t spend much time thinking about payment and banking—until something goes wrong.
A failed transaction, a frozen account, or a sudden account closure can throw your business into chaos overnight.
You assume your finance team has it covered, but payment and banking don’t follow the same rules as accounting.
The ones who manage payment and banking tasks are not adequately trained to so.Key areas, such as how payments and banking affect technology, UX, compliance, and other essential aspects in a business, are absent from accounting, economics courses, and MBAs.
One mistake can cut off your cash flow, block customer payments, and leave you scrambling with no clear answers.
If you’re not actively managing this, you’re already at risk. Here’s what you need to know:
https://www.linkedin.com/pulse/why-payment-banking-can-longer-ignored-hidden-business-soltesz-v1ise/?trackingId=lhNaFIyuQ76hrIy0Gab%2BaA%3D%3D
You probably don’t spend much time thinking about payment and banking—until something goes wrong.
A failed transaction, a frozen account, or a sudden account closure can throw your business into chaos overnight.
You assume your finance team has it covered, but payment and banking don’t follow the same rules as accounting.
The ones who manage payment and banking tasks are not adequately trained to so.Key areas, such as how payments and banking affect technology, UX, compliance, and other essential aspects in a business, are absent from accounting, economics courses, and MBAs.
One mistake can cut off your cash flow, block customer payments, and leave you scrambling with no clear answers.
If you’re not actively managing this, you’re already at risk. Here’s what you need to know:
https://www.linkedin.com/pulse/why-payment-banking-can-longer-ignored-hidden-business-soltesz-v1ise/?trackingId=lhNaFIyuQ76hrIy0Gab%2BaA%3D%3D
Upvoted by Cristian and 1 other
Upvoted by 2
Viktoria S.
Mar 3, 2025
Thinking your payment and banking setup is fine? Think again.
One mistake—choosing the wrong bank, relying on a single provider, or ignoring compliance changes—can freeze your accounts, block your transactions, and cut you off from your own money.
Too many businesses assume payments are "just finance" or that "their accountant can handle it". That’s exactly how companies end up with crippling fees, rejected transactions, and lost revenue.
Your payment and banking setup isn’t an afterthought—it’s your business lifeline. Get it wrong, and you might not have a business left.
Read my article for more information. https://www.linkedin.com/pulse/5-payment-banking-myths-make-companies-fall-behind-viktoria-soltesz-gkp9f
One mistake—choosing the wrong bank, relying on a single provider, or ignoring compliance changes—can freeze your accounts, block your transactions, and cut you off from your own money.
Too many businesses assume payments are "just finance" or that "their accountant can handle it". That’s exactly how companies end up with crippling fees, rejected transactions, and lost revenue.
Your payment and banking setup isn’t an afterthought—it’s your business lifeline. Get it wrong, and you might not have a business left.
Read my article for more information. https://www.linkedin.com/pulse/5-payment-banking-myths-make-companies-fall-behind-viktoria-soltesz-gkp9f
Upvoted by Cristian
Upvoted by 1
Viktoria S.
Feb 6, 2025
Payment introducers are hurting the industry!
These "introducers" are not doing you a favor—they’re cashing in on secret commissions while putting your business at risk. The bigger issue is accountability—because there is none. There incentive to match businesses with the right provider: who pay the most.
Your business, your money, and your ability to operate are on the line.
This approach hurts everyone—the Providers, the Business, and the Industry!
Payment and banking must be handled by educated professionals who understand compliance, risk management, and long-term business strategy—not by brokers looking for a quick payday.
Businesses that ignore this reality will learn the hard way. And by then, it will already be too late.
Read my article for more information: https://www.linkedin.com/pulse/hidden-cost-free-merchant-bank-account-openings-why-payment-soltesz-7h4hf
These "introducers" are not doing you a favor—they’re cashing in on secret commissions while putting your business at risk. The bigger issue is accountability—because there is none. There incentive to match businesses with the right provider: who pay the most.
Your business, your money, and your ability to operate are on the line.
This approach hurts everyone—the Providers, the Business, and the Industry!
Payment and banking must be handled by educated professionals who understand compliance, risk management, and long-term business strategy—not by brokers looking for a quick payday.
Businesses that ignore this reality will learn the hard way. And by then, it will already be too late.
Read my article for more information: https://www.linkedin.com/pulse/hidden-cost-free-merchant-bank-account-openings-why-payment-soltesz-7h4hf
Viktoria S.
Feb 3, 2025
The "Big Bad Banks" Myth: Who’s Really to Blame?
We love to blame banks for high fees, but the truth is, compliance isn’t free.
Banks and payment providers charge fees because they’re the ones making sure transactions are legal, fraud is prevented, and taxes are accounted for.
Without them, businesses wouldn’t be better off—they’d just be competing with those who avoid the rules, cheat the system, and undercut honest merchants.
Instead of pointing fingers, businesses need to understand the system, negotiate better deals, and structure their payments properly—because without the right knowledge, they’ll always be the ones getting ripped off.
Read my article for more: https://www.linkedin.com/pulse/big-bad-banks-myth-whos-really-blame-viktoria-soltesz-hamqf
We love to blame banks for high fees, but the truth is, compliance isn’t free.
Banks and payment providers charge fees because they’re the ones making sure transactions are legal, fraud is prevented, and taxes are accounted for.
Without them, businesses wouldn’t be better off—they’d just be competing with those who avoid the rules, cheat the system, and undercut honest merchants.
Instead of pointing fingers, businesses need to understand the system, negotiate better deals, and structure their payments properly—because without the right knowledge, they’ll always be the ones getting ripped off.
Read my article for more: https://www.linkedin.com/pulse/big-bad-banks-myth-whos-really-blame-viktoria-soltesz-hamqf
