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Stripe: instant payment processing for developers

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Re: Stripe: instant payment processing for developers

#231

Post by rick888 »

pc wrote: post #215
rick888 wrote: post #213

I have a problem with using merchant startups. If they go out of business, what happens to my clients? If I have thousands of clients, I would not want to be forced to get all of their credit card info again (since I wouldn't be storing any of that info). Although I hate using the big guys, at least I know they will be around in 5+ years.

We'll happily export your card data to another provider if you ever want to move away.

Are you legally allowed to even do that? Do you store card data yourself?

Re: Stripe: instant payment processing for developers

#232

Post by boucher »

DanBlake wrote: post #229

Does Stripe let us take our data with us if we want to leave for another processor? If I build a recurring revenue business on Stripe, am I screwed if they hike up their fees by not being able to move the credit card #'s elsewhere?

Yup, we do. Checkout my other answers in these comments.

Re: Stripe: instant payment processing for developers

#233

Post by boucher »

mikey_p wrote: post #230
andrewingram wrote: post #187

Earlier quoted context omitted.

But say you have a untrustworthy employees (it happens), as long as they have the ability to deploy code, they can compromise your site. So my question is, to what extent can a solution like Slice (or Braintree) truly alleviate the PCI burden, surely you'd still need a record of who has the ability to deploy code, audit trail for deploys etc. Obviously you should be doing all this stuff anyway. I guess the point I'm…

>But say you have a untrustworthy employees (it happens), Well that's still a PCI requirement, but many more of their requirements wouldn't apply (i.e. rendering stored PAN unreadable, etc). When in doubt: http://www.youtube.com/watch?v=xpfCr4By71U

Rumored cost of this video is over 1 million dollars.

Re: Stripe: instant payment processing for developers

#236

Post by Yevgeny »

markbao wrote: post #5

Stripe pretty much takes payment processing kicking and screaming into 2011. Merchant accounts are a serious drag. I've opened a few and they've been nothing but headaches (especially if you're young—nobody trusts you.) Couple that with getting a gateway account, dealing with credit checks, monthly fees, monthly minimums, slow people in the payments industry, PCI compliance... Stripe takes payments and put them behin…

I would have to agree; a plethora of headaches are to be expected when dealing with merchant accounts. Monthly fees coupled with compliance issues and constant intervention make for extra work. Relying on merchants is like relying on your local broker. Nonetheless, certain merchant accounts will allow you to escape with fees almost a full point less than Stripe. Not to mention, the 7-day rolling period can seriously impact operations pending your specific business structure. I for one am curious to learn more about how Stripe can customize payment flows...

Re: Stripe: instant payment processing for developers

#237

Post by kalleboo »

thepumpkin1979 wrote: post #223

off-topic: Stripe looks really nice and I wish I could use it but sadly I'm outside USA. Does anyone knows a service like this that doesn't require a bank account? Let's say I want to charge people in USA but I don't have a bank account in USA, then I would transfer the money to Paypal or something. Any thoughts?

If you're transferring the money into Paypal anyway (and exposing yourself to "the paypal risk"), why not just use Paypal Website Payments Pro?

Re: Stripe: instant payment processing for developers

#240

Post by boucher »

neovive wrote: post #235

Stripe looks great and is definitely at the top of my list. Does anyone know what name shows up on the customers statement? Is it customizable to something that includes your company name (e.g. Stripe your_name_here)?

Stripe doesn't appear at all. You have full control over what appears on the statement.
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