Stripe can completely ruin your 6-figure business in one minute

#1

Post by celiktom » Sun, Feb 12, 2023, 8:01 AM UTC

Re: Stripe can completely ruin your 6-figure business in one minute

#2

Post by celiktom » Sun, Feb 12, 2023, 8:01 AM UTC

Is it legal for a private company to impose a financial penalty on you without even explaining the reason?

#3

Post by quantified » Sun, Feb 12, 2023, 8:03 AM UTC

celiktom wrote: post #2

Is it legal for a private company to impose a financial penalty on you without even explaining the reason?

Does their TOS allow it? I haven't seen it but I'd expect an acre of fine print in there.

#4

Post by nhchris » Sun, Feb 12, 2023, 8:15 AM UTC

Am I reading that correctly, that you're required to submit to a corporate guilty-until-proven innocent court, for vital payment network access?

#5

Post by timcavel » Sun, Feb 12, 2023, 8:27 AM UTC

[dead]

#6

Post by btgeekboy » Sun, Feb 12, 2023, 8:28 AM UTC

#7

Post by [deleted] » Sun, Feb 12, 2023, 8:29 AM UTC

[deleted]

#8

Post by rippercushions » Sun, Feb 12, 2023, 8:33 AM UTC

If getting shut down, blacklisted and fined $425000 is "a bit of bad news", I wonder what Stripe considers actually bad news.

#9

Post by rippercushions » Sun, Feb 12, 2023, 8:34 AM UTC

But Stripe seems just like the middleman here? All these actions are originating from "a card network", presumably Visa or Mastercard.

#10

Post by drummer » Sun, Feb 12, 2023, 8:36 AM UTC

Should have been using monero. Hell, even bitcoin.