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Stripe Is the New PayPal

news.ycombinator.com

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Re: Stripe Is the New PayPal

#191

Post by pc »

ad_hominem wrote: post #169
pc wrote: post #115

Stripe CEO here. I just wanted to let everyone know that I'm taking a look at what happened here. OP (disappointeddev), if you could drop me an email, that'd be great: patrick@stripe.com.

The last time Patrick posted his email[1] soliciting feedback, I emailed him but never got a response. I'm sure being a CEO is a busy job, so I understand. And I'm sure he'll respond to OP. But keep in mind just because he posts his email publicly doesn't mean he's actually any more reachable for it. [1]: https://news.ycombinator.com/item?id=9646672

Hm, I never received anything! Can you send it again?

(Two of us from Stripe, myself included, have already been in contact with disappointeddev.)

Re: Stripe Is the New PayPal

#192

Post by ShirsenduK »

timboslice wrote: post #43
roosterjm2k2 wrote: post #19

Earlier quoted context omitted.

The fact that this is a valid reply saddens me...

Right? This is the financial industry, you shouldn't have to "publicly shame" a company to get a response. A ticketing system would give some organization to the chaos

I wish we lived in a world where people actually did what they signed up for. Buy unfortunately we have machines who follow that rule. I came on Twitter very late and it was basically to shame and acknowledged good publicity.

Re: Stripe Is the New PayPal

#194

Post by jkestner »

dangrossman wrote: post #150
jly wrote: post #123

Earlier quoted context omitted.

Other payment processors that do not use a 'freemium' model charge less for their processing fees (and varying rates across cards). The reason it seems freemium for Stripe and other competitors is that they charge higher processing fees for the convenience than other traditional processors do.

It's a nice spread too. They take a 2.9% fee for charging a debit/check card, but pay Visa as little as 0.05% + $0.21.

  Why do we pay that much again?
Assuming risk.

Re: Stripe Is the New PayPal

#195

Post by sbov »

hellbanner wrote: post #42

-- PSA regarding Credit Card Validation -- Last year I was testing Stripe integration. I tried using my own credit card with a fake name. Surprise, it went through. I emailed Stripe support. After half a dozen emails discussing CC authorization I learned that Stripe does not and can not validate Name & Address on credit card. Stripe told me that Credit Card companies do not disclose this data to Payment Processors li…

From my experience with our card processor (not stripe):

1) They have AVS checks, which can check the street number and zip code. But its up to us to decide what to do with this information (e.g. void the transaction).

2) They do not check anything else (country, name, state, phone, email, etc).

3) Some cards will fail if you put in the wrong expiration date, some won't - I would guess this is up to the card being charged. I get no information back when its incorrect but they let the charge go through.

4) Some cards will fail if you put in the wrong cvv code. Some will succeed but will just let you know through another field that the cvv code doesn't match - its up to us to decide what to do (e.g. void the transaction).

Re: Stripe Is the New PayPal

#196

Post by pen2l »

pc wrote: post #191
ad_hominem wrote: post #169

Earlier quoted context omitted.

The last time Patrick posted his email[1] soliciting feedback, I emailed him but never got a response. I'm sure being a CEO is a busy job, so I understand. And I'm sure he'll respond to OP. But keep in mind just because he posts his email publicly doesn't mean he's actually any more reachable for it. [1]: https://news.ycombinator.com/item?id=9646672

Hm, I never received anything! Can you send it again? (Two of us from Stripe, myself included, have already been in contact with disappointeddev.)

Not to knock on you, but I'm starting to see this is a trend. I was on the hn irc channel, and numerous people complained about the same thing. That you're always very willing and ready to offer support here on HN by saying "Sure, just email me!" but when these folks do email you, they are ignored. I don't know if this is a clever PR strategy to contain and direct fallout to a private medium so it never sees light of day, or if it was a genuine mistake.

I think and hope it was the latter, but the frequency with which this seems to be happening starts to suggest it may also be a little bit of the former. E.g., just in this very comment thread there's a handful of people claiming you never responded to emails even after explicitly asking them to email you.

Re: Stripe Is the New PayPal

#197

Post by pc »

pen2l wrote: post #196
pc wrote: post #191

Earlier quoted context omitted.

Hm, I never received anything! Can you send it again? (Two of us from Stripe, myself included, have already been in contact with disappointeddev.)

Not to knock on you, but I'm starting to see this is a trend. I was on the hn irc channel, and numerous people complained about the same thing. That you're always very willing and ready to offer support here on HN by saying "Sure, just email me!" but when these folks do email you, they are ignored. I don't know if this is a clever PR strategy to contain and direct fallout to a private medium so it never sees light of…

I wasn't in the IRC room, but I'll go take a look at what happened there -- thanks for the heads up.

Re: Stripe Is the New PayPal

#198

Post by steveklabnik »

leereeves wrote: post #95
steveklabnik wrote: post #67

Earlier quoted context omitted.

> as you have no way of mitigating that. Actually, you do. In many cases, fraud follows a pattern. If you're a merchant, and you're getting a lot of fraudulent charges, you'll often get into a discussion with your upstream processor's fraud department about the details and how to mitigate it. I don't work in payments anymore, but as an example of how this works, I was talking a few weeks ago with a merchant who does…

Why doesn't the processor do this? Preventing fraud is the most difficult part of payment processing; are they outsourcing it to the merchants?

Processors do their own fraud as well. But, as they're based on heuristics, the more context you can give, the better. Depending on how exactly they do fraud, they may not see a specific kind of fraud coming through one customer, but may be better at seeing fraud spread out amongst customers.

You know your customers and business better than anyone, even your own upstream.

Re: Stripe Is the New PayPal

#199

Post by dangrossman »

jkestner wrote: post #194
dangrossman wrote: post #150

Earlier quoted context omitted.

It's a nice spread too. They take a 2.9% fee for charging a debit/check card, but pay Visa as little as 0.05% + $0.21.

Why do we pay that much again? Assuming risk.

I'm paying 0.15% + $0.26 for those transactions through another MSP. I think many people are paying the 2.9% for the convenience Stripe and PayPal offer over applying for and integrating a merchant account and gateway, not because they're a huge risk and nobody else would take their business at lower rates.

Re: Stripe Is the New PayPal

#200

Post by jeffmould »

pc wrote: post #186
akhatri_aus wrote: post #147

Earlier quoted context omitted.

I think this is something that sets PayPal apart. Paypal just doesn't seem to care at all. Their customer service is appalling. That being said Patrick, you can't do this forever, the service & support ought to be well without the need of a call for attention. I think this is the 3rd or fourth one in the past 2 weeks. Is something going on at Stripe? Why are these all happening now?

Our overall support response times are actually substantially faster than, say, 3 months ago. Part of it is, I think, because we're growing quickly -- even for the same problematic case percentage, there are going to be more in absolute number. (And, as Stripe becomes more prominent, the cases that happen will themselves get more attention.) In addition, the cases that get public attention generally aren't clear-cut.…

For what it is worth, just my two-cents, but I think even having a customer-facing ticketing system (doesn't necessarily have to be public facing) would help quell some of the unrest. At least for myself, I don't mind a delay in support, but when a request is sent in and it seems to disappear into a black hole it can be frustrating. If there was a way to incorporate support into the dashboard so that users could open/edit/check status of tickets directly from there that would be a great step in my opinion.
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