Stripe Atlas is nothing but a bad marriage

Post by degenerate » Mon, Jun 18, 2018, 2:43 PM UTC

goatforce5 wrote: post #13

cavisne wrote: post #8

Earlier quoted context omitted.

Actually a 44% chargeback rate by volume! It only takes a little bit of reading between the lines to see the author bought a site that sold fraudulent gear, didn’t realise this for a bit and then shut it down. If stripe hadn’t frozen payouts they would be stuck holding the bag for 44 percent of the total charges in the account. The new account thing does sound beuracratic but I guess it restarts the KYC process.

I worked for a high-risk merchant, and a 44% chargeback rate is utterly insane. IIRC, internal alarms would go off and the processors would be breathing down our necks if the chargeback rate started to approach 2%.

Post by badwolf » Mon, Jun 18, 2018, 2:44 PM UTC

owenversteeg wrote: post #11

ajeet_dhaliwal wrote: post #7

I can sympathize because it was just one business unit that he had apparently recently acquired that was responsible for this and the rest of his businesses were ok. The biggest lessons are to be aware of what you are acquiring and the issues they are having, make sure it's very clear to customers how they can contact YOU to get a refund and finally, it's probably a good idea to have separate accounts for different b…

That sounds like the real lesson here: have separate accounts for separate sites. I haven't used Stripe for years, so I'm not sure: is that totally kosher? And if you enter the same business/tax/ID details for two different accounts, will there be any problems? It'd be great to hear from someone about Stripe about this, as I know a lot of Stripe people hang around HN.

Post by toomuchtodo » Mon, Jun 18, 2018, 2:46 PM UTC

alexwebb2 wrote: post #24

toomuchtodo wrote: post #10

Earlier quoted context omitted.

> the author bought a site that sold fraudulent gear, didn’t realise this for a bit and then shut it down. I don’t think that’s the case. It looks like they bought a flipping or drop ship site and they botched the transition process; orders weren’t getting fulfilled and customers were rightfully pissed about it, hence the chargebacks. Stripe has a lot of rough edges once you have to talk to a person due to outlier ac…

I mean, if you're selling branded products that you don't actually have available to give to the customer, aren't able to get quickly, and don't even have the legal rights to sell anyway, and then customers start filing chargebacks... that's kind of entirely on you. Also keep in mind that for such a large number of users to go through the trouble of filing the chargebacks, it means that A) it's been long enough that…

Post by privateSFacct » Mon, Jun 18, 2018, 2:53 PM UTC

thedz wrote: post #3

The initial analogy made me cringe, and to be honest, the rest of the post didn't change that impression too much. Reading past the prose and paeans to loyalty, a couple points stick out to me: > "we discovered that the specific charges flagged as fraudulent were not fraudulent charges" "where fulfillment was lagging heavily during the transition which led to some dissatisfied customers who opted to dispute charges"…

Post by Meekro » Mon, Jun 18, 2018, 2:57 PM UTC