I work at Stripe. Could you email me at edwin@stripe.com and I can dig into this?
Stripe has decided to nuke my entire business
31–40 of 705 posts
Re: Stripe has decided to nuke my entire business
#32At what point does it make sense to sue these companies to compel them to answer these questions? I know, that's expensive... but I'm willing to contribute to a legal fund to make payment processors answer questions.
Of course a logical question is: with whom do you set up a "Fund me" drive to sue the likes of PayPal and Stripe?
Usually you would start with a “lawyer letter” and hope it adds some urgency to resolving your issue. Those are way faster and cheaper than actually filing suit.
Re: Stripe has decided to nuke my entire business
#33Re: Stripe has decided to nuke my entire business
#34It sucks this happened to you, but like with all the PayPal hate stories, I notice you're very careful not to describe what type of business you operate.
This is more a function of the fact that I don't want my business to be identifiable from this post than that it's a sketchy business. You'll have to take my word for it, but it's exceedingly benign.
I believe you, but I was also triggered by this line here
> They know exactly who our customers are and what services we offer, and have approved it as such.
which sounds like you offer services out of the ordinary.
Re: Stripe has decided to nuke my entire business
#35It sucks this happened to you, but like with all the PayPal hate stories, I notice you're very careful not to describe what type of business you operate.
Does it matter? PayPal and Stripe don't advertise that they will only do business with organizations with which they agree. To accept a business as a client for a mission critical service like payment processing and then summarily cancel or suspend service without notice should be able to be prosecuted the same as someone who vandalizes a physical storefront to the point they cannot open for business. This is non-tri…
https://www.paypal.com/us/legalhub/acceptableuse-full
always read the fine print
Re: Stripe has decided to nuke my entire business
#36If only there were some kind of permissionless, censorship resistant payments system, so that we could operate our businesses without being arbitrarily crushed by faceless corporations.
Re: Stripe has decided to nuke my entire business
#37Stories like this are why ultimately all payments will transition to crypto based and self custody. Having your livelihood at the whim of an algorithm is not only not cool. It is not sustainable. None of the legacy payment rails can be trusted to run without interruption. This includes Stripe, paypal and even the expected FedNOW service being introduced next year.
Self custody means having/being a custodian that does not make mistakes, ever. That is not sustainable either.
Re: Stripe has decided to nuke my entire business
#38At what point does it make sense to sue these companies to compel them to answer these questions? I know, that's expensive... but I'm willing to contribute to a legal fund to make payment processors answer questions.
Of course a logical question is: with whom do you set up a "Fund me" drive to sue the likes of PayPal and Stripe?
A law firm probably has an escrow account set up for this.
Re: Stripe has decided to nuke my entire business
#39Quoted post unavailable.
This victim blaming has to stop. These companies shouldn't be able to just shut down an account like this, especially for something so critical and core to a business survival. We shouldn't have to live in a world where you need multiple backups for every service you use in case one decides to fuck you over for no good reason!
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Re: Stripe has decided to nuke my entire business
#40I will take the OP's story at face value, but I think a common theme in these sort of posts is the "Stripe not happy with my business model" angle which typically does not actually include any details about the business model.
For example, a few weeks ago the founder of Tailwind tweeted [0] about how Stripe had shut down their account when they were set to launch the Tailwind Job Board, despite many other job boards also using Stripe and there being no obvious increased risk. Any rational person would protest the fact that Stripe does not approve of this business.
Compare that to what I've seen on various Facebook groups about Stripe shutting down accounts. People aren't descriptive about what exactly they're selling and it usually boils down to "coaching" or some other gray area.
[0] https://twitter.com/adamwathan/status/1550092016242946049