Rejected by Stripe: How to Move Forward with Payment Solutions?
- Thread starter StephB
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A payment provider that asks for very little information when you open an account, such as Stripe or paypal, is the worst, because you think you'll be safe when accepting payments, but in fact, while you're accepting payments, they're doing these checks, and they'll kick you out, which is all the more frustrating, while taking your money in the process (they've passed the word with paypal). In 2023, stripe changed its policy, it bans faster than before (AI use probably), and it doesn't give the money back.
It's better︀ to go to (“strong”) payment providers like Adyen, NMI etc. with more thorough checks of︁ your business' eligibility on entry, with less chance of random bans when you accept payments.︂ But if you want to have a fake account with an identity other than your︃ own, it's more complicated, and you need a front business that looks legitimate, because the︄ checks are more thorough.
In short, there are solutions, there are always solutions, but accepting︅ payments in 2024-2025 is more complicated than before, it's part of this global dynamic to︆ control financial flows, thank you uncle sam, we're all waiting impatiently for the brics to︇ dismantle your fucking dollar.
PS: sorry for the broken English, not native.
A payment provider that asks for very little information when you open an account, such as Stripe or paypal, is the worst, because you think you'll be safe when accepting payments, but in fact, while you're accepting payments, they're doing these checks, and they'll kick you out, which is all the more frustrating, while taking your money in the process (they've passed the word with paypal). In 2023, stripe changed its policy, it bans faster than before (AI use probably), and it doesn't give the money back.
It's better︀ to go to (“strong”) payment providers like Adyen, NMI etc. with more thorough checks of︁ your business' eligibility on entry, with less chance of random bans when you accept payments.︂ But if you want to have a fake account with an identity other than your︃ own, it's more complicated, and you need a front business that looks legitimate, because the︄ checks are more thorough.
In short, there are solutions, there are always solutions, but accepting︅ payments in 2024-2025 is more complicated than before, it's part of this global dynamic to︆ control financial flows, thank you uncle sam, we're all waiting impatiently for the brics to︇ dismantle your fucking dollar.
PS: sorry for the broken English, not native.
Hey Tate, thanks a lot! I’m almost done implementing a crypto solution right︇ now. Me being a bit of a crypto retard doesn’t necessarily mean my potential customers︈ are too,or at least I hope not. I do wonder about the kind of loss︉ of earnings I’d face by accepting only crypto. I know crypto payment has become widely︊ popular on Telegram, for instance. The solution is so easy to implement that it almost︋ feels too good to be true.
I appreciate the Adyen and NMI suggestions. I’ll approach︌ them as soon as I’m up and running with crypto. My front business site is︍ pretty robust. It’s about providing ERP modules and add-ons, which is what I actually do︎ in "real life". It's pretty well documented. It just lacks a product page, which you️ never really need when you provide tailored software services.
I'm pretty terrified by the scenario you mentioned, i.e., the payment processor banning you and freezing your money. I wonder why people would leave a large balance and not transfer the funds to their linked bank account regularly.
I appreciate the Adyen and NMI suggestions. I’ll approach︌ them as soon as I’m up and running with crypto. My front business site is︍ pretty robust. It’s about providing ERP modules and add-ons, which is what I actually do︎ in "real life". It's pretty well documented. It just lacks a product page, which you️ never really need when you provide tailored software services.
I'm pretty terrified by the scenario you mentioned, i.e., the payment processor banning you and freezing your money. I wonder why people would leave a large balance and not transfer the funds to their linked bank account regularly.
Crypto payments are easy to configure but from my experience︆ getting people to pay using crypto is a whole different case.
In one of the︇ sites that I'm involved with, we accept payments by wire transfer and crypto, 95% of︈ the orders are done by wire transfer. Our sales drop to about 5-10% of what︉ they would normally be if the bank account has problems for some reason. We did︊ a test using a Stripe account and a lot more orders came in than using︋ Wire Transfer or Crypto. For the customer, it's just so much easier to check out︌ as they would on any major e-commerce site.
It also depends on what your target︍ audience is, for a lot of people crypto seems like a hurdle to pay as︎ many people have never used it before. As a new customer, they need to perform️ KYC on various fiat on-ramps before they're able to pay, not to mention the fees that get added on top, if your product costs 50$ the customer might end up paying 55$ with the costs that are added to it.
Ultimately it depends on what exactly you're selling, if it's something high value and unique, people are more willing to jump through hoops to get it.
In one of the︇ sites that I'm involved with, we accept payments by wire transfer and crypto, 95% of︈ the orders are done by wire transfer. Our sales drop to about 5-10% of what︉ they would normally be if the bank account has problems for some reason. We did︊ a test using a Stripe account and a lot more orders came in than using︋ Wire Transfer or Crypto. For the customer, it's just so much easier to check out︌ as they would on any major e-commerce site.
It also depends on what your target︍ audience is, for a lot of people crypto seems like a hurdle to pay as︎ many people have never used it before. As a new customer, they need to perform️ KYC on various fiat on-ramps before they're able to pay, not to mention the fees that get added on top, if your product costs 50$ the customer might end up paying 55$ with the costs that are added to it.
Ultimately it depends on what exactly you're selling, if it's something high value and unique, people are more willing to jump through hoops to get it.
How long have you︁ working with them? I've implemented the whole solution in test enviroment but I'm a bit︂ scared to deploy considering their support is really bad. The tech support guy hasn't been︃ able to answer very simple questions. I'm not sure if it's a language issue or︄ he's just very lazy. I'm starting to ask myself if they are legit at all...︅
Oxapay is a simple crypto payment gateway right, they don't accept card payments?
https://oxapay.com/
https://oxapay.com/
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