$20k MRR in one month, Stripe destroyed everything on 1 second

It's a video generation service, and also would stripe "refund" those "legitimate" customers if they hadn't requested those refunds or were payment spamming or something? Theres a few rather obvious reasons to suspect we're not getting the full story here lol

It's the PayPal method of conflict resolution. Freeze everything immediately, and maybe a few months down the line you'll get to talk to a human who might allow you to process transactions again after you provide a menagerie of documents.

happened to me twice to reach €10-30kk MRR and they shut it down. mo human support. I had a 1-4% refund rate. After those bans, I’m not allowed to use Stripe at all seemingly. Because as soon as I use a form of ID with my name (even one not used before on a new laptop and new connection and new SIM), the account is blocked as soon as I submit the ID.

For reference, the businesses were social media and skincare related.

Apparently they only accept like 1% of the micro businesses in the world and you never ever get to talk to a human.

It is pretty much the same with every payment provider unless you have an extremely large volume of sales and your industry is at least kinda ok with them.

How did I fix this? well, I didn’t fix it per se. I stopped creating businesses that would require credit card processing.

I built a business targeted for high net worth individuals. Few, large individual transactions that you can collect with an invoice (payooner/quickbooks) or, better, a wire transfer.

maybe if you are a US company and need CC processing, go for authorize.net+some other company.. idk

This is almost certainly about the service generating AI porn.

The tweet is a screenshot of this thread:

https://www.reddit.com/r/SaaS/comments/1dfwg1i/20k_mrr_in_1_...

Stripe stopped processing payments and performed refunds twice because they could not handle or assess the risk of the business of creating ai images. Second time was permanent.

Maybe it falls under their restricted businesses 0 such as porn or not enough info.

0. https://stripe.com/legal/restricted-businesses

U guys need to realize that stripe is one of many many options.

Get a payment gateway like authorize.net and then you are free to create a merchant account with any company you like. Fuck stripe their dev experience is awesome but not awesome enough for me to build my whole code base around them only for them to play with your business as they like.

Absolute nightmare fuel.

A lot of you here might not like the reality of this fact, but cryptographic currency was designed precisely to guard against abuse like this. It can't protect you if you give your traditional payment processor direct access to your traditional bank account, but it can absolutely allow customers to continue doing business with you in events like these.

If your customers genuinely want to continue using your online services and if your service is legal, then people will jump through the hopes to pay you in cryptographic currency if they have to. I certainly have.

To be noted is that Stripe or banks are a little bit overzealous on that kind of case but the main assholes resulting in such a situation are central banks, their governors and government that force banks to spy on your transactions and to assess your risk level.

The main culprit is regulator that so far never even thought about having a legal framework forcing bank to respect privacy and ensure that you can use your bank account freely for all legally allowed purpose!

Tbf. I don't think it's stripe....it's their issuing bank or Clearing bank. They need to use a bank and the banks are regulated with banking codes that determine the risk level. if they misrepresented the code it's a problem for stripe because they get dinged by their bank for being untrustworthy and if the codes are high risk ...it's high risk...

Find another payment processor. Stop blaming others for your lack of contracts.