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Buddy, your business is selling "privacy cards" and "virtual cards" which hide the identity of the person making the transaction. It's a massive money laundering red flag, it's not at all surprising that Stripe doesn't want to deal with you.
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>Is everyone learning from the best (cough Amazon)? You mean learning from the 5th highest market cap company? Isn't that sort of expected? The question you should ask if why the government doesn't step in since companies will do what they can to optimize stock price.
I'm afraid the answer to that question is called "lobby".
Earlier quoted context omitted.
Like another commenter said, think about your payment processor like another thing which needs redundancy. Have another one prepared - braintree or whatever.
That's my initial assumption. I'm curious if this is common behavior to have two integrations, or if it is prohibited by the TOS.
I guess stripe wasn't kidding when they said they would disrupt online payments. On a more serious note; How much further is society going to allow this kind of thing? Hiding behind templated e-mails without any explanation. Disrupting people's lives who become collateral damage with no way out.
I rather trust cryptography (and its currencies) than be dependent on VISA or similar.
Most all of them have VISA cards.
Expecting customers to carefully create a wallet, an exchange account (so they can buy the crypto) and considering how difficult that can be (even for technical users) is really unreasonable. When people can use crypto as easily as they can use a credit card, then it would be an alternative.
IMPO, this problem is very similar to the PGP problem. You'll get a lot less email if you only accept PGP encrypted and signed emails. You cannot expect your customers to do that. They won't, but they will send you plaintext emails from their Gmail accounts, just as quickly as they will pay using a VISA card.
John from Stripe here. Very sorry about this -- looking into it now.
Buddy, your business is selling "privacy cards" and "virtual cards" which hide the identity of the person making the transaction. It's a massive money laundering red flag, it's not at all surprising that Stripe doesn't want to deal with you.
I “hide my identity” daily when I make transactions, it’s called cash, guess that’s a red flag.
Something can be perfectly fine for people to do, and it can be just as fine for Stripe to not want to handle it. They can choose what types of businesses they want to allow on their network. It potentially creates opportunities for other service providers.
Looking at what service they actually offer, I can easily see why Stripe would not want to do business with them. They offer private credit card services, which seems like it could easily be a magnet for people trying to launder stolen credit cards and the like. Just because they have not yet been hit with this, does not mean they are not at risk of becoming a target if they get a bit more known. Stripe doesn't want…
We preempted this by using Stripe radar along with our own tools. The fact we had only one charge-back in 3 months which we won, speaks to the efficiency of our protection mechanisms. Finally, all bigger software shops face this issue so we are not unique. 1. https://kinsta.com/blog/credit-card-fraud-stripe/
To them, you are a risk. They don't want that risk.
Over time every payment provider will become Paypal because of outside forces.
Funny how this has beeing a tendency last years. Big american corps just banning small users/companies without any reason and not giving them support whatsoever. As a developer this puts a big dent on Stripe's reliability and I'm not advising it to any client. Ever.
Yet this sort of thing just begs for future draconian government interference. Seems to me a smart company would find a way to not invite that unpleasantness on themselves.
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So, if I want to disrupt a competitor all I have to do is hire a bunch of darknet identify thieves and you'll shut down their merchant account?
Yes, if you’re willing to break the law and risk the consequences, you can get up to all sorts of stuff. Same as anything? Like, “So, if I want to disrupt a competitor, all I have to do is hire thugs to smash all their stuff?” Yeah, that’d do it. Good luck.