Stripe closed our account and refuses to migrate our data to another processor
We run a dating app. We've been using Stripe for the past 2 years and this wasn't a problem when we signed up, but apparently "all online dating services" was added to the Restricted Businesses list last year (without notice) and now our account has been flagged. Fair enough, there are some sketchy dating apps out there, but we are much closer to Tinder/Bumble/etc. (albeit smaller) than to the mail order bride / escort service end of the spectrum. We take moderation very seriously, have never had any safety incidents, no sexual content, we maintain a low 0.05% dispute rate. Apple and Google happily process our mobile payments, we've had major press, we're as legit as a dating app gets.
Our appeals have been denied, but we were told we could submit a migration request and switch to another payment processor. We requested an extension so we could complete this migration before our account was closed without interrupting our subscriptions, and after some pleading it was granted. I noticed that our dashboard still said our payments would be disabled on the original date, so I asked Stripe to confirm and was told after a couple escalations, "Though it might not appear immediately on your end, don't worry—the time extension has already been recorded and approved". So I didn't worry.
We were approved by a major processor which has completed a significantly more thorough risk assessment than Stripe, at low-risk rates. But when we asked Stripe about migrating our card data, we were told, "Unfortunately, we will not be able to complete your requested data migration. Our team has reviewed your Stripe account and has determined that we are not comfortable with the level of risk presented by completing this data migration". We have appealed and asked for more information, to no avail. We still have not been given any reason for this "level of risk" except that we are a dating app.
Stripe claims (https://docs.stripe.com/get-started/data-migrations/pan-export): "We believe that our customers own the sensitive data they entrust to Stripe, and we work hard to make sure that you have access to this data—even if you’re moving elsewhere. If you decide to leave Stripe for another payment processor, we’ll work with your new processor’s team to securely transfer your credit card data". We trusted Stripe with our payments because of commitments to fairness and portability like this. If our industry was listed on the Restricted Businesses list when we started using Stripe, that would be one thing, but surely we would at least be able to export our data if that changed later, right? Today it is dating apps, tomorrow it may be your business.
Now, our account's original closure date has come, and sure enough, our payments have been disabled. The extension was not honored. I'm sure this was an honest mistake, but I wonder if Stripe has reviewed our risk as carefully as they confirmed our extension (not very). Stripe claims to have 24/7 chat and phone support, but I wasn't able to convince the support AI this was urgent enough to grant me access.