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This is a way, way bigger deal for this service than Stripe. Dissecting the email Stripe sent, though, the issue is actually that a card network found them in-v
by Shank 4y ago
This is a way, way bigger deal for this service than Stripe. Dissecting the email Stripe sent, though, the issue is actually that a card network found them in-violation of something, and shut them down. It doesn't name the card network, but the card network assessed an illegal transaction fine, and, well, ended their credit card processing with all networks and processors.
> In addition, per card network rules, you and your business have been added to MATCH or another terminated merchant file operated by the card networks.
This is now a problem between Flurly and Visa/Mastercard/whoever decided to fine them. Stripe is really just delivering the bad news on-behalf of whichever network decided to bring the axe down. Also, obviously, being added to MATCH/TMF means that your business cannot process credit cards. Just...at all. It doesn't matter which gateway you use in this case. The same outcome would happen with Braintree or any other gateway.
- smca 4y agoAs mentioned above, this post's title is misleading. The blog post makes clear this is a regulatory issue and that the decision wasn't made by Stripe. A card network found the business in violation (due to illegal transactions) and issued the fine. In any case, this is a sad situation. If you're building a marketplace on Stripe, you need to use Connect (as the majority of businesses accepting multiparty payments do) and ensure you are clear on who assumes liability (as mentioned in the blog post).