Live data from Hacker News

Stripe is no longer a suitable payment processor

news.ycombinator.com

31–40 of 145 posts

Re: Stripe is no longer a suitable payment processor

#31
post #27

Earlier quoted context omitted.

I would recommend Adyen. It‘s a bit like a European Stripe. https://www.adyen.com/

It’s a shame that Adyens tech is so rough in comparison but can definitely be worth it when it comes to fees

I've integrated Adyen. It wasn't perfect but it wasn't as awful as Paypal.

Re: Stripe is no longer a suitable payment processor

#34
post #30
post #8

> This is enshittification: Surpluses are first directed to users; then, once they're locked in, surpluses go to suppliers; then once they're locked in, the surplus is handed to shareholders and the platform becomes a useless pile of shit

Its getting a bit boring to hear the same one word dismissal for everything over the last year. When HN learns a new word you really have to be patient.

I don't know, the word was backed up by an explanation that made sense to me.

Re: Stripe is no longer a suitable payment processor

#35

Do you actuality have a particular issue to raise though? Why was your account shut down? > when you make a decent amount of sales they will shut down your account I mean they do give you some explanation, right? It might not be super clear (it sometimes can't due to laws) but it's not "you are now processing much volume, goodbye". That's just not in Stripe's interest at all and assuming that high volume alone is the…

To avoid the detection rules being circumvented by users, they won't give you any explanation, only a generalized reason. It's almost impossible for you to find out what the problem is.

Re: Stripe is no longer a suitable payment processor

#36
post #10

Earlier quoted context omitted.

I think the issue would be that you need to offer payment methods that your customers trust and will use. Does Web3 satisfy that need?

USDT, USDC, Ethereum, Bitcoin are trusted round the world. It’s not like the latest memecoin garbage

Another downside of these alternatives is that they are not decentralized either. USDT and USDC are controlled by a single entity each. The top 0.01% of Bitcoin holders own 27% of all the Bitcoin [0], and even worse, the top 0.1% of Bitcoin miners control half of the miner capacity [1]. I am not sure about Ethereum, but as in any pure capitalistic system, the accumulation of wealth by a few is inevitable [2].

[0] https://www.cbsnews.com/amp/news/bitcoin-cryptocurrency-weal...

[1] https://fortune.com/2021/10/26/bitcoin-mining-capacity-owner...

[2] "capital has the tendency for concentration and centralization in the hands of richest capitalists. Marx explains" https://en.wikipedia.org/wiki/Capital_accumulation#:~:text=c...

Re: Stripe is no longer a suitable payment processor

#39
post #27

What's the best alternative? Currently working on an MVP and the horror stories have really put me off Stripe.

I would recommend Adyen. It‘s a bit like a European Stripe. https://www.adyen.com/

Adyen didn't want to speak to us unless I could show ~£1M+ a year of transactions :(

Re: Stripe is no longer a suitable payment processor

#40

Do you actuality have a particular issue to raise though? Why was your account shut down? > when you make a decent amount of sales they will shut down your account I mean they do give you some explanation, right? It might not be super clear (it sometimes can't due to laws) but it's not "you are now processing much volume, goodbye". That's just not in Stripe's interest at all and assuming that high volume alone is the…

> I mean they do give you some explanation, right? What makes you think that? Financial institutions are pretty notorious for refusing to explain or justify their 'fraud' detection and suchlike.

Not sure if it made into the final text. But some drafts of the GDPR have provisions for rights for explaination
Post reply on HN