Stripe is a minimal to no vetting payment processor. A real merchant account will require contracts and pre-vetting that includes a review of your payment processing history and suitability to the rules of the card networks in question.
People blame the payment processors, and they can certainly be opaque sometimes. But perhaps fairer to lay most of the blame on the fraudsters.
I’m sure Stripe would love the revenue from this enterprise, but they can’t have it without making KYC as complex as banks and losing a lot of their value prop.
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I thought Stripe was a real merchant account.
Nope.
Sort setup, short teardown, same as PayPal
Stripe is a minimal to no vetting payment processor. A real merchant account will require contracts and pre-vetting that includes a review of your payment processing history and suitability to the rules of the card networks in question.
This. There is _so much_ fraud.
People blame the payment processors, and they can certainly be opaque sometimes. But perhaps fairer to lay most of the blame on the fraudsters.
I’m sure Stripe would love the revenue from this enterprise, but they can’t have it without making KYC as complex as banks and losing a lot of their value prop.