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We already have legal team dealing with all legal issues, we auto block any restricted areas, and don't accept any company that has legal issues in any way. Wha
by growmify 5y ago
We already have legal team dealing with all legal issues, we auto block any restricted areas, and don't accept any company that has legal issues in any way.
What do you mean incoherent? I wrote whatever happened
- downrightmike 5y agoI think they mean that it appears that this is a first pass write up from a frustrated author, so it jumps a bit because the problem is bigger than you've given the background on.
- growmify 5y agoProblem is that some connected accounts in platform were selling CBD which is on restricted business list of Stripe. And we already had systems in place to make sure they don't sell it in areas that are not allowed and they are compliant in terms of regularity perspective They also blocked us in past and reopened due to decline rate being high, we built security layers it went from 20 to 6-7%. We are capable of building whatever is necessary to continue with Stripe. Our platform not necessarily require CBD companies to grow. In less than 4 months, our team were able to grow from 0 to 100-150k a day revenue, of course we can build anything required I don't understand how me being frustrated have anything to do with actual practical problem Stripe blocks many people with this unnecessary reasons while they could be working with them by letting them know what should be done, it is not just us, but many companies For our case, they could simply say, we will work with you as long as you no longer support CBD industry. And we will be more than happy to do so, only thing we would need to do, build auto blocks for CBD and add underwriting guidelines for our team which would take us less than 1-2 days to do so. They can work with us, it is just unreasonable so that they simply don't even consider Another thing frustrating is that, many people praising Stripe, and I am thinking how come they don't see how they are destroying many businesses by simply having bad underwriting practices Then I notices, reason most people like stripe is that, if you don't make money, revenue or have growth, Stripe usually doesn't even care, you don't even notice any issues, so you are happy Once you have growth and revenue, you are in trouble This didn't just happen once to us, we have team members in team and the only reason their business failed was Stripe as well Communication specialist, I don't understand still why it is recommended, making things perfect has huge cost of speed, so doesn't worth it
- anigbrowl 5y agoTo be very blunt, your English is not good and fighting the issue in public makes things harder for your attorneys because your public statements are reducing your legal leverage. That's why you should work with a PR person. I guess you are paying a lot of money to your attorneys. Maybe you should ask them them to advise you about how to talk about this in public.
- growmify 5y agoStripe paid us after closing the account, what do you mean by legal leverage. There is nothing we can do, or sue.
- anigbrowl 5y agoI am surprised your legal team would not help you develop a better communication strategy. I can understand why you are upset, but like I said both your post and the website copy are difficult to read. I think you should consider talking to a communications specialist, because what seems obvious to you is somewhat mysterious to a passing stranger.