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Dear posters of these HN support threads, would you please also provide links to your stores/websites? At least hundreds of thousands people reading these threads every other day would know that the businesses are in fact legitimate, and Stripe is wrong. All these anonymous posts might as well be competitor's marketing strategy. I know that maybe in Stripe's case it might be all true, but where are we going with all…
I do not want to defend Stripe (I hate all that kind of companies), but there are so many unclear details here. - What were those unauthorised charges? - What are exactly the goods you sell? - What is the time spread across those transactions were done? Is that one business day? a month? quarter?
I really cannot conclude stripe is shitty based on this post.
If everything is so clear and arbitrary like it seems in the post, is a no brainer to get 500k back in a court of law. So, relax.
Dear posters of these HN support threads, would you please also provide links to your stores/websites? At least hundreds of thousands people reading these threads every other day would know that the businesses are in fact legitimate, and Stripe is wrong. All these anonymous posts might as well be competitor's marketing strategy. I know that maybe in Stripe's case it might be all true, but where are we going with all…
All the other low barrier to entry, no underwriting payment processors are either crypto scams or known to have poor support and randomly hold your funds (PayPal, Amazon Payments, etc).
We get to hear this again and again. Makes you really think whether to use Stripe and I am tipping to no. Too big business risk at this point.
What alternatives are there to Stripe that don't suck? I've personally had nightmare experiences with Paypal, and there is no way in hell I'll be using crypto
Next time I need a payment provider, I'll probably do that, collate the provider names, check out the recommendations, and of course like you avoid the ones I've had bad experiences with before, which are too many :/
Out of curiosity, can you be more specific about what you sell? Consumer electronics like vapes or consumer electronics like Alibaba hoverboards or consumer electronics like a quality, entry level set of computer speakers? Stripe seems to be pretty sensitive towards certain industries and I'd like to see if this holds true here.
If I share accurate info about what and how we sell things, It's very easy for opportunists and competitors to undertake us in this specific project while our processing solution is down temporarily.
What I will say though, is that we're not speaking vapes or anything borderline, more like kitchen and household appliances, and so on.
This is the Nth horror story I've seen about stripe. It's the new Google. Good docs and a sane technical API make my life as a dev easier. But I'd rather use a payments vendor that I can trust not to deep 6 my company a year later. Any recommendations? Ideally they still have good docs and a sane API.
As the business grew, they have contacted us a few times for risk related reviews and asked us to submit supporting documents. But they don't hold the funds first (unless you don't comply I guess) which I find a better approach on how to treat your customers and establish trust.
The reason for closure of both accounts is that our business is “high risk”. I’m not sure what this really means in our case, as we just sell consumer electronics in the $100-200 price range
No judgment here, but is it sex toys? Because US-based companies are just really weird about that stuff and treat it as crime-adjacent for no real reason other than historical prejudice.
EDIT: you answered my question while I was writing it. I think you'll get better responses if you specify that it's kitchen/household goods.
I must be stupid... but how a refunding of 150k makes a loss of 250k? I would assume the shipped goods are less than 150k (gain margin). That plus shipping is the loss. Shipping, assuming 150, you sold about 1000 items, which at 5EUR typical shipping ist 5k. Worst case, even with interest and all that you want... who do you come to 250k? I do not want to defend Stripe (I hate all that kind of companies), but there ar…
Stripe is now "considering" refunding all these customers, while holding 150k of our generated revenue.
Due to the products being bought and shipped, (and not even factoring in marketing costs) this easily equates to a total net loss of 250k for our business.