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Don't Use Stripe

news.ycombinator.com

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Re: Don't Use Stripe

#61

Post by john___matrix »

This is the problem with so many companies these days in terms of not being able to get hold of anyone and just getting thrown into a loop of bot replies and semi-relevant faq pages.

I run a small business in UK and have had a few issues in the past where I've been unable to get any sort of resolution through regular channels and I've actually contacted my local MP and asked them to help intervene or at least reach a person in authority who could own the problem.

I may not agree with his actual political party but as a local MP he is good with small businesses and uses the clout of his office and name. Obviously YMMV on this depending on your MP but desperate times etc.

Re: Don't Use Stripe

#62

Post by arein3 »

yellow_lead wrote: post #42
matrix_overload wrote: post #33

Not defending Stripe here, but DO NOT HAVE A SINGLE POINT OF FAILURE! Have 2-3 payment processors hooked to a common abstraction layer, split transactions between them. If one fails, switch to others while you try to sort it out. Unfortunately, "computer says no" has become the harsh reality when dealing with any kind of corporate entities, so you need to be ready. It sucks, but that's the world we live in.

It's expensive to build 2-3 integrations for every service you rely on though. And losing 1/3 of your money can still be detrimental to your business.

Losing 1/3 of your money is better than losing all of your money.

Re: Don't Use Stripe

#65

Post by docflabby »

Most small business I've found don't accept credit/debit cards for large transactions and instead want direct (cash) bank transfers because they fear the money going missing or getting a chargeback. This has its only issues as its slow and not very customer friendly.

If only there was some kind of virtual cash that could be sent from one party to another almost instantly without an intermediary

Re: Don't Use Stripe

#66

Post by mndgs »

notimetorelax wrote: post #27
linuxhansl wrote: post #23

Whatever the backstory of this particular incident is... It's clear that Stripe, Paypal, et al need to be regulated like a bank. Period. If it looks like duck...

PayPal is a bank in the EU. Seems to work fine. Same needs to happen everywhere.

It's not. It is an electronic money institution, which is far from a bank, it can only keep customer funds and process payments.

Re: Don't Use Stripe

#67

Post by 35mm »

docflabby wrote: post #65

Most small business I've found don't accept credit/debit cards for large transactions and instead want direct (cash) bank transfers because they fear the money going missing or getting a chargeback. This has its only issues as its slow and not very customer friendly. If only there was some kind of virtual cash that could be sent from one party to another almost instantly without an intermediary

Also (at least in the UK & EU) bank transfers are free whereas Stripe fees are around 3%.

Re: Don't Use Stripe

#68

Post by Klonoar »

docflabby wrote: post #65

Most small business I've found don't accept credit/debit cards for large transactions and instead want direct (cash) bank transfers because they fear the money going missing or getting a chargeback. This has its only issues as its slow and not very customer friendly. If only there was some kind of virtual cash that could be sent from one party to another almost instantly without an intermediary

>If only there was some kind of virtual cash that could be sent from one party to another almost instantly without an intermediary

If only such a system wasn't ripe with fraud, get rich quick schemes, and the same general predatory behaviors found in our systems with intermediaries yet lacking the ability for the common user to have some ability to recover when things go wrong.

Alas, such a thing does not exist. ;P

Re: Don't Use Stripe

#69

Post by 35mm »

nnurmanov wrote: post #55
linuxhansl wrote: post #23

Whatever the backstory of this particular incident is... It's clear that Stripe, Paypal, et al need to be regulated like a bank. Period. If it looks like duck...

All global corporations need to be regulated. I heard a number of cases, when people could not reach FB support, they just ignore everyone. Did you know? It took Stripe 10 years to do it and 7 years for Robinhood. What do you think it is? 24×7 phone and chat support!

Facebook support has an interesting feature: you have to be logged in to access it, and if they have decided that your support request is ‘closed’ then in my experience the option to contact them again is disabled.

Re: Don't Use Stripe

#70

Post by alephu5 »

docflabby wrote: post #65

Most small business I've found don't accept credit/debit cards for large transactions and instead want direct (cash) bank transfers because they fear the money going missing or getting a chargeback. This has its only issues as its slow and not very customer friendly. If only there was some kind of virtual cash that could be sent from one party to another almost instantly without an intermediary

The EU are working on something like this, it's like USDC but backed and exchanged by the European Central Bank.

https://www.ecb.europa.eu/paym/digital_euro/html/index.en.ht...

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