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Stripe has decided to nuke my entire business

news.ycombinator.com

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Re: Stripe has decided to nuke my entire business

#611

Post by kevinmchugh »

pmx wrote: post #54
Exuma wrote: post #29

Earlier quoted context omitted.

Are you sure it's not a medium risk business that IS benign, but STILL is considered medium to high risk? For example, selling video game digital products like a strategy guide is benign, but gaming industry is ripe with fraud so most processors will give you shit if you're in the gaming niche, let alone (non-crypto) digital currencies, crypto, health products, non-snakeoil supplements, etc.

Even if this is the case, it doesn't mean that Stripe should just be able to turn off a 3rd of the guy's business with no warning or reason. If they don't like what he's doing, tell him and give him notice to switch to another provider rather than just tanking his business over night.

They only reason theyd do this is for reputation. They don't want a good reputation with people in risky business.

Re: Stripe has decided to nuke my entire business

#612

Post by jkira »

matiasfernandez wrote: post #581
tremon wrote: post #315

Earlier quoted context omitted.

Next time I build something with Stripe I'm curious why you would still consider them a trustworthy business partner after what happened?

We've been moving away from Stripe and Stripe-backed (e.g. Shopify) payment gateways pretty much everywhere we can for this same reason. We only have a few integrations left connected to Stripe, specifically one with Tripleseat, which we use for our event management and have not migrated yet. Choosing Stripe has been the most costly decision we've ever made and we're not a small company nor a startup.

What payment processor did you switch to?

Re: Stripe has decided to nuke my entire business

#613

Post by eftychis »

ux-app wrote: post #551
vlod wrote: post #401

Earlier quoted context omitted.

Are you saying you should empty your account constantly (nightly?) in case paypal gets shut down your account, for unknown and un-communicated reasons?

>Are you saying you should empty your account constantly This doesn't really help. When you link your bank account with PayPal the link is 2 way. I.e. PayPal can, without any input from you, transfer money out of your account. They can even do that if the account is empty. Your bank will almost certainly allow an overdraft on your account and you're still liable for the amount + overdraft fees. I had some issues with…

You can upon sign up of any bank account not allow overdraft. In fact it is an opt-in feature, that depends on your bank they communicate properly with you. I have for instance ensured there is no overdraft added in our business accounts.

Or perhaps I am missing something here?

But yes, please remove overdraft from your accounts. I have no input to offer on paypal at this time.

P.S. Are you in the U.S.? I am just really surprised they bank deemed overdraft as a necessary feature in your case. I am personally interested in this case.

Re: Stripe has decided to nuke my entire business

#615

Post by eftychis »

jlokier wrote: post #530
sudden_dystopia wrote: post #287

Earlier quoted context omitted.

This is how an auto insurance company I used to work for wrote policies. They didn’t underwrite them until there was a claim and then they would rescind the policy and deny the claim when they found a “material misrepresentation”. They called it underwriting on the back end.

Sounds like private health insurance. Initial form questions like "tell us if you have ever been to hospital for anything serious?", you're thinking "I'm not sure if that time I dropped in to the GP 5 years ago with a headache counts as serious [same for other things that seem trivial over the years, just being sensible]". You phone the insurer to check, they say "oh there's no need to put that down, it's not meant f…

I am not surprised.

I am disappointed the American people is simply putting up with this healthcare situation. I don't think it matters if your doctors welcome room is fancy. Or they have 10 administrators replying to you within minutes. In the end you want to be treated fast and efficiently, and it fails. But I digress.

I can see why paypal does this and I am glad we are planning on avoiding them in our back end.

Re: Stripe has decided to nuke my entire business

#616

Post by canadiantim »

gingerlime wrote: post #274
canadiantim wrote: post #214

Earlier quoted context omitted.

Have you tried or considered lago? (getlago.com) I haven't heard of killbill, so will definitely look into them. Love that they're open-source as well and seems like they've been at it a long while.

Thank you! First I hear about either of those, but definitely interesting. Are there paid / hosted versions of lago? after a sub-par experience trying to switch to ChargeBee I'm looking for alternatives, but struggle to find something that fits our needs.

Yep there is a paid / hosted version of lago; I believe you can book a demo of the hosted version from their website and get a good 1 on 1 with one of their developers so you can see if it works for your needs.

Re: Stripe has decided to nuke my entire business

#617

Post by encryptluks2 »

ceejayoz wrote: post #540
encryptluks2 wrote: post #486

Earlier quoted context omitted.

Hair color is something you're born with and is a genetic mutation based off lineage and other factors. I don't think they directly corelate and it wouldn't necessarily even make it to the Supreme Court. Most businesses aren't going to appeal to say that they can discriminate based on hair color nor willingly admit to doing so, nor would they ever likely make the argument that they did it and that it is okay.

The law doesn’t say “things you are born with”, though. That’s a common theme with the specific categories it does name, but only those specific categories are protected.

It isn't specifically limited to those specific narrow words by the most limited means you're thinking. I'm sure they could make that argument, but only a fool would risk a discrimination lawsuit based on hair color. Even if that is the specific reason a person would have to be either a fool or want to try to challenge the law, and there is no guarantee after losing that the Supreme Court would even take the case. I don't think the Supreme Court would even want to touch such a case nor that it would be ruled on in the manner you're thinking.

Re: Stripe has decided to nuke my entire business

#618

Post by encryptluks2 »

tharne wrote: post #491
encryptluks2 wrote: post #487

Earlier quoted context omitted.

LOL, wait until you hear about ERISA and learn that everything you just said is wrong for most employee insurance plans and that you can't even get damages when they act in bad faith.

> LOL, wait until you hear about ERISA and learn that everything you just said is wrong for most employee insurance plans and that you can't even get damages when they act in bad faith. We may be talking past each other here. I was referring to property and casualty insurance in my comment, while it sounds like you're talking about health and disability insurance. Two completely different worlds and regulatory framew…

Fair, those are definitely much more fair but just a quick search will show there is no shortage of courts ruling in insurance companies favor even when acting in bad faith. Just looking at complaints on the insurance commissioners website for my state seems to indicates even when they do get fined the amounts are small.

Re: Stripe has decided to nuke my entire business

#619

Post by graderjs »

graderjs wrote: post #569

What sort of business do your run? I'm considering using stripe connect for something very tame (like a gig economy thing) and I've looked into it and I really want to use standard accounts because I don't like how the liability shifts to me for custom and Express accounts. Sure, the customized user experience for those is quite nice but I don't really care about that I just want to ensure I can have the best possibl…

Ugh... why is Google's voice typing so not good.

1) It doesn't seem to learn.

2) I think it was better a couple years ago.

3) The transcription seems very slow. But I remember a couple years ago it was lightning fast.

Any settings or premium version that can be signed up for?

Re: Stripe has decided to nuke my entire business

#620

Post by ux-app »

eftychis wrote: post #613
ux-app wrote: post #551

Earlier quoted context omitted.

>Are you saying you should empty your account constantly This doesn't really help. When you link your bank account with PayPal the link is 2 way. I.e. PayPal can, without any input from you, transfer money out of your account. They can even do that if the account is empty. Your bank will almost certainly allow an overdraft on your account and you're still liable for the amount + overdraft fees. I had some issues with…

You can upon sign up of any bank account not allow overdraft. In fact it is an opt-in feature, that depends on your bank they communicate properly with you. I have for instance ensured there is no overdraft added in our business accounts. Or perhaps I am missing something here? But yes, please remove overdraft from your accounts. I have no input to offer on paypal at this time. P.S. Are you in the U.S.? I am just rea…

I'm in Australia, there is no way for me to remove the overdraft.
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