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TIFU by using Stripe as a payment processor for my small business

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Re: TIFU by using Stripe as a payment processor for my small business

#121

Post by stef25 »

pythonic_hell wrote: post #57
leoff wrote: post #20

Earlier quoted context omitted.

> When I see Stripe's apology here it will not be enough for me I'm actually just starting a business using Stripe for handling payments, and this makes me very concerned. Is there an alternative service one could use? Is there a way not to give these shady companies power to steal all my money?

Checkout Adyen. They’re practically the same.

Have you compared the backends you get to use as a customer? I'd be surprised if Adyen even comes close to Stripe.

Mollie for one is complete garbage.

Re: TIFU by using Stripe as a payment processor for my small business

#123

Post by ciguy »

aga98mtl wrote: post #55
ciguy wrote: post #17

Stripe is going the way of PayPal it seems. Many people learned this lesson the hard way with PayPal now they will learn it with Stripe I guess. You have no real recourse when these companies decide to steal your money and their incentives are very much to do so as they get to hang onto it for extended periods. I don't think it's a coincidence that this happened as we go into economic downturn and layoffs. Too bad th…

Stripe like paypal is not to blame in this story. The problem is the credit card payment standard. Transactions can be charged back up to 180 days. This means that by giving the merchant the money right away, Stripe runs the risk that a transaction will be charged back and that the merchant wont have fund to cover it. Stripe like any other processor runs an algo to determine the risk profile of each transaction to de…

Temporarily freezing the funds is understandable, just long enough to ask for clarification or documentation from the merchant. Instead they decided to go the Google route of ignoring your customer because "algorithm said no".

Re: TIFU by using Stripe as a payment processor for my small business

#125

Post by caboteria »

xyzzy_plugh wrote: post #118
thfuran wrote: post #112

Earlier quoted context omitted.

If someone broke into my house and stole my tv and laptop, I'd be pissed even though I can afford to replace them tomorrow.

But this isn't theft? The funds are being held, they are likely to be returned _at some point_. Inconvenient, sure. But theft?

What would you call it if I broke into your house, stole your TV and laptop, and told you "I'm just holding them, I'll return them someday, probably 240 days from now but maybe later".

Re: TIFU by using Stripe as a payment processor for my small business

#126

Post by wrycoder »

thallium205 wrote: post #91

It's called placing a reserve on the account and it is something any payment processor will do to a merchant account.

Sure, and OP understands that. But, there’s apparently no effective resolution process, especially one involving a human.

What would you suggest the OP do to resolve their issue?

Re: TIFU by using Stripe as a payment processor for my small business

#127

Post by thfuran »

xyzzy_plugh wrote: post #118
thfuran wrote: post #112

Earlier quoted context omitted.

If someone broke into my house and stole my tv and laptop, I'd be pissed even though I can afford to replace them tomorrow.

But this isn't theft? The funds are being held, they are likely to be returned _at some point_. Inconvenient, sure. But theft?

I'd still be pissed even if they left a note saying that they would return the TV in four or more months.

Re: TIFU by using Stripe as a payment processor for my small business

#128

Post by mission_failed »

thallium205 wrote: post #91

It's called placing a reserve on the account and it is something any payment processor will do to a merchant account.

Yes banks regularly seize money from accounts for hundreds of days and refuse to discuss it with paying customers /s

Re: TIFU by using Stripe as a payment processor for my small business

#130

Post by kweks »

coolgoose wrote: post #48
kweks wrote: post #7

You can try contacting Edwin ( edwin@stripe.com ) - he's often on HN and has unstuck quite a few Stripe issues for me and other HNers.

I appreciate your comment but this is a clear example their internal flow is fucked up.

You are correct, but the aim of the reddit post / this post is to get the problem solved. Billing is a complicated subject, and fraud is even more complicated.

A well placed, polite email to C-level staff often fixes the problem, but can draw attention to flaws in the support flow - or validate a customer-hostile standpoint, at which point you can make an informed decision about where to place your business.

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