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Earlier quoted context omitted.
And be reversible?
Yes, if the application and its users demand it. Reversibility is possible in peer-to-peer and decentralized payment systems. But not every app needs reversibility and the centralized intermediaries that come with that.
I love credit cards because I can dispute transactions.
The suspicious activity is disputed payments, which for SEPA DD (the main payment method used) can simply be that the customer has no money in the bank account. Sudden changes of circumstances like trading for 11 months and then seeing multiple declined payments from multiple parties does sound quite suspicious to be fair. I imagine Stripe have extensive amounts of data about that sort of thing. That's not to say Str…
Hello,
We’re reaching out to notify you that some SEPA Direct Debit payments created between September 26th to October 4th incorrectly show as disputed when they actually failed. We have confirmed this issue is resolved, and SEPA Direct Debits created after October 4th 04:00 UTC will not incorrectly show as disputed. Please note that as SEPA Direct Debit is an asynchronous payment method, you still may see new disputes on payments created before October 4th.
We have compiled a list of all currently-known payments impacted by this issue, which you can download by clicking this link:
We will be refunding any charges for the affected payments and disputes.
We are very sorry for any inconvenience this may have caused. If you have any further questions please let us know.
—The Stripe team
The suspicious activity is disputed payments, which for SEPA DD (the main payment method used) can simply be that the customer has no money in the bank account. Sudden changes of circumstances like trading for 11 months and then seeing multiple declined payments from multiple parties does sound quite suspicious to be fair. I imagine Stripe have extensive amounts of data about that sort of thing. That's not to say Str…
If only there were a system to transfer money between two people that didn't require a trusted third party...
There’s an odd juxtaposition between the net negative sentiment towards The Technology That Shall Not Be Named and the near daily “X banned my accounts and my business will never recover please help” posts.
Monthly HN Stripe customer support thread
1. Why is stripe a seemingly preferred payment processor for HN crowd? 2. Is there no ( edit: real ) competition or is the competition similarly bad ( or somehow worse )?
edit: Instead of replying individually, I decided to edit this section. Thank you everyone for the background(s). It does answer a lot of the questions I had. I perused their site and I can absolutely see the 'dev first' principle in play.
SEPA payments also support chargebacks. Gyms are notorious for making it easy to sign up and hard to cancel, so the other explanation is that people are upset with some of your gyms and disputing the subscription renewals. Stripe customer support is beyond useless, so I totally get your frustration, but I would encourage you to get to the bottom of this and verify that that your "insufficient funds" theory is correct…
Hey, @gizmo thank you for your reply, I indeed checked. As I said the account affected here is a local business, they make like 1.1K MRR from the same people forever. I've checked personally the disputes and they are all due to these "insufficient funds", also one issue that happened like 3 weeks ago on the same account was that Stripe was incorrectly crafting the SEPA Mandate and for the reason the bank rejected it.…
At this point, I don’t know how any founder on HN doesn’t make their business… 1) Multi-cloud and… 2) Multi-payment processor These stories are horrifying. These cloud and payment processors simply do not care. They print money and provide no human support. Any venture that I make in the future will be cloud-agnostic containers on several cloud providers with at least two payment processors handling an even share of…
Admirable, but neither of these are light lifts. Most startups are potentially better off just gambling they won't be in the %0.1 that get shut down due to big company shenanigans.
We don’t typically comment in detail on individual cases, but we do think it’s important for onlookers to know that we take every single case like this seriously. It looks like what happened here was an edge case involving SEPA payments that resulted in a dispute rate that’s far in excess of what’s generally permitted by financial partners. When we do this, our interventions are partly to protect financial partners/Stripe, partly to protect end customers, and in part to protect the businesses themselves. (For example, Visa will fine businesses that maintain high dispute rates.) This case is actually a bit more complicated still, since you said that you’re using Connect. In these cases, we also take seriously the importance of defending the platform (i.e. you) against users who are trying to defraud you.
More broadly, we work hard to balance the rules of the financial ecosystem, ease of use, protection against fraudulent businesses, consumer protection, and continuity for businesses. We support millions of businesses across dozens of countries and payment methods, and we discover new scenarios every day. We plan to blog about our work here in more detail before too long (including some of our key metrics). If any HNers have suggestions as to what we should include, feel free to reply here. We’ll try to share anything helpful that’s not too sensitive.