Earlier quoted context omitted.
Here's a few: https://www.jotform.com/blog/is-stripe-psd2-compliant/ Linda Scott of Silicon Dales in the U.K. uses Stripe and isn’t surprised that the payment processor is in compliance. “We have found Stripe to be proactive and open around legislative changes.” https://www.paymentssource.com/news/stripes-next-step-is-bui... Stripe hasn't exactly been in the news for lawsuits or controversy, unlike AirBnB.
Not being in the news has nothing to do with being regulatory complaint. You’ve provided articles that Stripe is compliant, which is fine, but nothing there indicates that Airbnb isn’t compliant. What regulations specifically is Airbnb breaking that Stripe isn’t?
Stripe’s new funding round values company at $35B
241–250 of 263 posts
Re: Stripe’s new funding round values company at $35B
#242Earlier quoted context omitted.
Not the parent poster but I don't think that's what they were going after. I think they were asking whether the valuation is fair relative to other companies that are operating in a very similar space with similar ambitions. GS is an investment bank. A fairer comparison would be SQ, PayPal, Adyen or First Data. Square's market cap is $25B today on the public markets with a 2019 estimated net revenue of $4.5B and almo…
Exactly. I've really liked Patrick Collison in interviews and I've long admired their API documentation. Square Capital was first to offer loans to SMBs that amortize over the transactions so Stripe isn't the first mover there. Some bigger companies like eBay and Burberry have chosen Adyen as a payment solution and I think Booking uses Braintree? Are there reasons outside of costs to choose Adyen or Braintree over St…
Short term public company values are fickle. Much more so for high growth/money losing/tech companies. Shopify was worth $46B at times in August.
Re: Stripe’s new funding round values company at $35B
#243Earlier quoted context omitted.
Not being in the news has nothing to do with being regulatory complaint. You’ve provided articles that Stripe is compliant, which is fine, but nothing there indicates that Airbnb isn’t compliant. What regulations specifically is Airbnb breaking that Stripe isn’t?
https://www.bloomberg.com/news/articles/2019-09-19/airbnb-ip... https://www.wired.com/story/inside-airbnbs-guerrilla-war-aga... https://www.epi.org/publication/the-economic-costs-and-benef...
First link: That's hosts not complying with the law, not Airbnb. There is a big difference between the two.
Second link: Still not in non-compliance with regulation, this is a story about lobbying.
Third link: Still not breaking any current regulations, it's about lawmakers considering regulating the business in the future.
Still looks like Airbnb is compliant with current regulations. Same as Stripe.
Re: Stripe’s new funding round values company at $35B
#244Earlier quoted context omitted.
Here is Nitzan of Future Nine (a pure-VoIP company) stating that Stripe does not service VoIP providers: https://www.dslreports.com/forum/r29552956- When I asked Stripe Support about servicing VoIP companies last year they referred me to the prohibited businesses section and said: "Historically we have seen that the telecommunications industry is one with too high of a likelihood of customer chargebacks. These need n…
This is from 2014. I know several VoIP companies today that are using Stripe successfully.
Edwin (with Stripe) did just re-enable our account, I don't think we will use it, but its nice to not be banned!
Re: Stripe’s new funding round values company at $35B
#245Before stripe, I used paypal and it was sooo painful! There are so many terrible APIs out there that waste so much time needlessly. Then I found stripe. What a treat. Everything was documented and the documentation itself was both readable and didn't go in endless circles like the paypal ones. The error messages were helpful. And every api endpoint had an example, which is hugely helpful: HUGELY! All the other API de…
Paypal also came out and said they will no longer refund seller fees when a customer is refunded. Before, they used to just keep the $0.30, but now they will keep the 2.9% as well. More the reason to switch to a new processor like Stripe.
Stripe keeps your 2.9% also [1].
> Stripe supports the ability to refund charges made to your account, either in whole or in part. If the original charge underwent currency conversion, the refunded amount is converted back using the same process. There are no fees to refund a charge, but the fees from the original charge are not returned.
Re: Stripe’s new funding round values company at $35B
#246Earlier quoted context omitted.
> Yeah their API is a little bit... bloated for simple needs since they're covering for many different use-cases You're right. We're fixing this. Stay tuned.
Please also make using Elements with Stripe.js v3 fully optional. We finished migrating to SCA-enabled payment flow not few days ago. Apparently, you can't create a PaymentMethod instance without using Elements and we don't have the time (nor do we see any practical need) to redo the frontend with them. So the end result is a Frankestein-style frontend that uses the v3, but with a fair share of v2 methods, because it…
Elements is not a requirement to create a PaymentMethod. The recommended path factors in PCI stuff etc. Feel free to email me to lx@stripe.com
Re: Stripe’s new funding round values company at $35B
#247Earlier quoted context omitted.
https://www.bloomberg.com/news/articles/2019-09-19/airbnb-ip... https://www.wired.com/story/inside-airbnbs-guerrilla-war-aga... https://www.epi.org/publication/the-economic-costs-and-benef...
First link: That's hosts not complying with the law, not Airbnb. There is a big difference between the two. Second link: Still not in non-compliance with regulation, this is a story about lobbying. Third link: Still not breaking any current regulations, it's about lawmakers considering regulating the business in the future. Still looks like Airbnb is compliant with current regulations. Same as Stripe.
I will concede that perhaps I am wrong about AirBnB being less compliant than Stripe. Bravo to them for doing so in an environment that rapidly changes, sometimes designed to hem them in.
However, I will move the goalposts to rephrase my original point- AirBnB appears to operate in an environment that has more regulatory challenges, especially new ones, than Stripe, which operates in banking, which while regulations-heavy, which doesn't seem to be moving at nearly the same clip. And so my original point about AirBnB's problems still holds- the consequences of dealing with more lawsuits and having to spend more on lobbying.
Re: Stripe’s new funding round values company at $35B
#248Earlier quoted context omitted.
Hrm, I've seen most who migrate spend a similiar time to your estimate. I know you've already migrated, but I'm really sorry it took that long, and I'd really like to hear where we can improve the docs. Would you mind emailing dev-feedback@stripe.com (and feel free to CC edwin@stripe.com).
[Not the GP, but 100% in agreement with them, except that we abandoned updating our integration.] I'd really like to hear where we can improve the docs. IMHO, the fundamental problem is that as the data model and API have become more complicated, the explanatory documentation has become less coherent. It feels like jumping around a Wiki now. More specifically, we couldn’t find anything to show us the big picture of h…
I had this exact experience recently too! Stripe was so easy at first so my estimate to upgrade was only a day, but the number of concepts and the muddled way they’re introduced meant day after day I was still working out if I really needed a payment intent, what would getting charge authority look like, do I even need any of this since I’m not doing business in Europe (in the end no, I migrated to the ‘old’ charges api, which the token api used to be). It ended up taking 5 days and causing quite a bit of angst with my cofounder due to a customer deadline
Combined with Stripe not refunding merchant fees, which was what triggered me to rewrite the payment process to delay processing until the last possible moment and making our own customer facing process more complicated, my most recent experience was less magical (like it was the first time) and more like dealing with a giant bank
I really like products like connect, and the original front end SDK (elements feels like overreach), but if someone hungrier came along they’d definitely get a look in
Re: Stripe’s new funding round values company at $35B
#249I quite like Stripe - but them forcing the recent switch to Checkout V2 has me a bit miffed. Previously it was super simple to add dynamic card payments to a site - just drop the JS in, make a call to your server and then call Stripe from your server. Done. And it's all done in a popup on the same page (so no context switching UX for the user). Now it seems they've killed the simplicity of that in favour of a more Pa…
A wallet isn't the intent. It's almost the opposite! If you remember the previous version, your customers used their saved card within Checkout. The new version of Checkout lets your customers use whatever payment method is easiest for them, and wherever it is. That's why we're big fans of things like Apple Pay (some have seen a conversion increase of 250%!), local bank payments in Europe, or even saved cards in Chro…
But the whole question of "which payment method do you want to use?" is unnecessary complexity if they're sitting there with a card in their hand. Wouldn't it be better to let the front end service handle that question, and then use the appropriate Stripe APIs in the front end?
The whole revelation of stripe was that if a customer was sitting there with a credit card, they just put it there into the same screen and it was done. It was the other crappy products that forced you out into a merchant gateway then back again
I'm never going to send retail customers out a payment gateway with someone else's brand/colors/html, mostly because it's just too confusing to introduce more concepts at that critical stage when they're about to actually make the payment
Re: Stripe’s new funding round values company at $35B
#250Earlier quoted context omitted.
A wallet isn't the intent. It's almost the opposite! If you remember the previous version, your customers used their saved card within Checkout. The new version of Checkout lets your customers use whatever payment method is easiest for them, and wherever it is. That's why we're big fans of things like Apple Pay (some have seen a conversion increase of 250%!), local bank payments in Europe, or even saved cards in Chro…
But the whole question of "which payment method do you want to use?" is unnecessary complexity if they're sitting there with a card in their hand. Wouldn't it be better to let the front end service handle that question, and then use the appropriate Stripe APIs in the front end? The whole revelation of stripe was that if a customer was sitting there with a credit card, they just put it there into the same screen and i…
I'm never going to send retail customers out a payment gateway with someone else's brand/colors/html, mostly because it's just too confusing to introduce more concepts at that critical stage when they're about to actually make the payment
This is one of the concerns we have with SCA. By the nature of the additional authentication steps, they are necessarily hosted off-site in some situations. Handing your customer off to some other service in the middle of your payment flow and hoping they make it back is the only choice you have. It seems likely that this will reduce conversions, just as anything else that lengthens or complicates the payment flow usually does. What we don’t really know yet is how much difference it will make in practice.