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TIFU by using Stripe as a payment processor for my small business

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Re: TIFU by using Stripe as a payment processor for my small business

#31

Post by sofixa »

polux33 wrote: post #30

Quoted post unavailable.

Nobody is saying there's no use case for cryptocurrencies. However they absolutely suck in the main use case - payments. There are no chargebacks/protections against scams, the UX is atrocious or relies on an unregulated and unprotected third party. It's slow, it costs money to spend money. And it's also destroying the planet with useless electricity consumption when there's an energy crisis and climate change with resulting need for transition going on.

All the rest hippie anarchist bullshit "take control", "inflation", "fiat" etc. is just bullshit that's either idealistic to the point of stupid or just stupid.

Re: TIFU by using Stripe as a payment processor for my small business

#32

Post by Ayesh »

leoff wrote: post #20
vemv wrote: post #11

If it was, say, a $30000 charge I could give Stripe the benefit of doubt, but $3300 is a pretty ordinary amount for any retailer. Could be e.g. a laptop sale, or three phones? When I see Stripe's apology here it will not be enough for me - not at least without a detailed blog post / postmortem. Until/if that moment happens, I'll regard Stripe as an untrustworthy entity and will recommend doing the same to do anyone I…

> When I see Stripe's apology here it will not be enough for me I'm actually just starting a business using Stripe for handling payments, and this makes me very concerned. Is there an alternative service one could use? Is there a way not to give these shady companies power to steal all my money?

In a different HN thread that has no or positive reaction to Stripe, you'd be seeing many praises for Stripe.

For local businesses, perhaps your local bank has a better solution? They will be cheaper (if they use networks other than Visa/Master), and often has zero fees when you withdraw money to a bank account.

Here in my country, for a business that only caters to local customers, I pay about 2% for payments with no fixed fee and no fee for withdrawals, which happens daily. I can directly call the person who handles my queries, and charge backs have never been anything but a few quick clicks with no mind games. All I do is redirect the user to the payment page, and validate the payment upon arrival. The UX isn't as good as Stripe of course, but many of the locals are quite used to that UI anyway.

Re: TIFU by using Stripe as a payment processor for my small business

#36

Post by AdrianEGraphene »

whatisweb3 wrote: post #13

Hopefully making enough noise on HN and social media will help your case move quickly. That appears to be the only way to get a response these days. Maybe one day non-custodial and permissionless payment rails will prevent this situation, for those services that choose to use it. Shame that HN is so polarized about blockchain that they refuse to entertain the idea.

AFAIK, there are no permissionless payment rail that do fiat-> crypto payment processing. They all require intermediaries and presumably would run into similar issues.

Crypto-> crypto would be a different story, but requires a more sophisticated buyer.

I play in this space, so would definitely like to hear what you've got in mind.

Re: TIFU by using Stripe as a payment processor for my small business

#37

Post by negamax »

whatisweb3 wrote: post #13

Hopefully making enough noise on HN and social media will help your case move quickly. That appears to be the only way to get a response these days. Maybe one day non-custodial and permissionless payment rails will prevent this situation, for those services that choose to use it. Shame that HN is so polarized about blockchain that they refuse to entertain the idea.

But what about the people who don't have social clout? I think for every person like this, there are 100s if not thousands who's money and accounts get locked away.

Re: TIFU by using Stripe as a payment processor for my small business

#38

Post by lawgimenez »

dekken_ wrote: post #6
orangepanda wrote: post #5

> You can only email. If you email, you get robots. Their dev support on discord is S-tier, but every now and then some issue has to be moved to email support; where it dies. It always takes months for something to be resolved, if at all. My only consolation is that every other provider is just as terrible.

> Their dev support on discord This is also a red flag

Using Discord for support is a major red flag.

Re: TIFU by using Stripe as a payment processor for my small business

#40

Post by nostrebored »

negamax wrote: post #35

I have no idea how companies like Stripe and to a great extent Revolut made it to forefront of banking. They are Uber of banking industry. And have done shady things. As the time passes and VC money runs out; these companies will implode

As someone who’s worked there: stripe won’t. Everyone in the company can see the business metrics. People wouldn’t be staying if that were true.
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