31–40 of 158 posts
if using Braintree would lead to problems like the ones mentioned by OP, what are the alternatives, in US and elsewhere, square cash?
Sounds like you need to stop complaining and pick a new payment provider. Get a local loan, start giving away free rides, continue to pay your drivers and start a countdown clock to doomsday. That's how long you have to implement a new solution and recover from this. Or you can whine about it on Facebook and a few weeks from now you'll be forgotten.
you can't pay your drivers if you have no money...
Get a local loan,
We need a loan of X to keep us operating for the next few months. what kind of terms can you give us?"
Serbia might not be the kind of place where this is possible, but I could go to my local credit union in Ann Arbor and probably pull this off in less than an hour. Head home, get operations back up same-day, and proceed to bust ass on implementing a new provider on the backend.
Payment Processing/Network is the most innovation-less thing IMO. But still there is not a non-profit leader. Why ?
Because the owners of that network are a consortium of banks, whose motivation is profit, reinforced by regulation.
Sounds like you need to stop complaining and pick a new payment provider. Get a local loan, start giving away free rides, continue to pay your drivers and start a countdown clock to doomsday. That's how long you have to implement a new solution and recover from this. Or you can whine about it on Facebook and a few weeks from now you'll be forgotten.
Earlier quoted context omitted.
you can't pay your drivers if you have no money...
Get a local loan, "Hi, we have a very successful local business but we made a mistake with choosing a payments company that might end up killing us entirely. Here are our stats, here are the kind of transactions we're dealing with, etc... We need a loan of X to keep us operating for the next few months. what kind of terms can you give us?" Serbia might not be the kind of place where this is possible, but I could go t…
Earlier quoted context omitted.
I'd expect that most companies rely on one payment provider, at least in the early days. The cost of implementing, testing, etc. multiple providers is pretty high. I have only switched providers twice in the decade long life of my company, and only due to extreme pain from the previous one. It takes a lot to get me to sign on for the pain of a migration, and that's even more pronounced now that so much data ends up s…
Of course it is painful to implement a seconds provider for backup, but payments are their lifeline. And PayPal has a track record for stuff like that. Never rely your whole business on PayPal!
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He replied to that question on FB: "We had to open a company and a bank account in the EU."
Ah, that solves that mystery. Thanks! Also means that them being a Serbian company hasn't really got anything to do with why they had issues with Braintree.
Earlier quoted context omitted.
Because the owners of that network are a consortium of banks, whose motivation is profit, reinforced by regulation.
It would have been true if there were not so many networks (SWIFT, VISA, MasterCard, Paypal, Braintree, Google Wallet, Apple Pay, ...). Judging by the increasing number of networks It can only be concluded that its not so hard. Only non profit can put stop to this mess.
Earlier quoted context omitted.
Ah, that solves that mystery. Thanks! Also means that them being a Serbian company hasn't really got anything to do with why they had issues with Braintree.
Not necessarily. E.g. for PayPal you need to provide company president's home address in a given country. I had a company and a bnak account registered in UK, and PayPal didn't want to do business with me, because I lived in Poland. I couldnt register for Polish paypal either, because the company was in UK.