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How so? Why does Stripe process payments when you're small, then fuck you over when you get more traffic? Why can't they detect this upfront, assuming there's n
by tpxl 4y ago
How so? Why does Stripe process payments when you're small, then fuck you over when you get more traffic? Why can't they detect this upfront, assuming there's no misrepresentation on the retailers part?
- tptacek 4y agoPresumably because underwriting happens in stages; further, the universe you're stating a preference for is one in which it's much more difficult to get a payment processor at all, because the fact of some businesses being "shadier" than others doesn't change. Underwriting is what happens when a business works in part by putting up some of its own money to smooth things over for its customers. Payments is an underwriting business. For an example of what happens when you do an underwriting business that would never cause anyone on HN to complain, see: FTX. But, really: who knows? They haven't told us what the business is.
- tpxl 4y ago> the universe you're stating a preference for is one in which it's much more difficult to get a payment processor at all Isn't this the world we live in? A bank will ask you these questions when you open an account with them, why can't Stripe? Because growth? Edit: Also, much harder? Filling out a questionnaire a human looks at, then takes a cursory glance of where you're registered, what you're registered for and what your website looks like? That doesn't sound like much work for the upsides. This smells like the classic "There's nothing we could do, dude!", when a company can't be bothered to do due diligence, then dumps all the externalities of that on someone else. Stripe could do this, they just don't, as it makes more money, ruining (possibly legitimate/legal) businesses in the process.
- tptacek 4y agoA bank isn't going to do anything with your business that you just set up that wants to accept credit cards over the Internet for things. I'm not sure what we're even talking about at this point. There's a good comment upthread about alternatives to Stripe, of which there are many. The good ones distinguish themselves by being the kinds of places where businesses like StoreCycle can't get an account in the first place. In summary: the words "possibly legitimate" in your comment are doing most of the work of this entire thread.
- deleted 4y ago[deleted]