Most of these sites will go down due to one big hurdle. Payments.
Underwriting merchants and get verified by Visa/MasterCard as a payment service provider is a bitch. Aggregating credit cards is a heavily regulated area - but most of these sites are unaware of this issue.
We initially started on Stripe, and got told what we were doing was unregulated/not allowed on stripe, so we then grabbed a coffee with them and learnt about this process.
In fact I was grabbing coffee with Sahil (Gumroad) a few months ago and they've just run into this issue themselves - which they are starting to solve. so you'll probably notice them asking you for more information to underwrite you, unless they find a way around this.
That's also why we ask users to go through an activate process.
Interesting. Does using Stripe Connect bypass this restriction since you are not actually handling any money? Or am I misunderstanding things?
Questionable site name, but well done! :) Cheers
Comments
Most of these sites will go down due to one big hurdle. Payments.
Underwriting merchants and get verified by Visa/MasterCard as a payment service provider is a bitch. Aggregating credit cards is a heavily regulated area - but most of these sites are unaware of this issue.
We initially started on Stripe, and got told what we were doing was unregulated/not allowed on stripe, so we then grabbed a coffee with them and learnt about this process.
In fact I was grabbing coffee with Sahil (Gumroad) a few months ago and they've just run into this issue themselves - which they are starting to solve. so you'll probably notice them asking you for more information to underwrite you, unless they find a way around this.
That's also why we ask users to go through an activate process.
Interesting. Does using Stripe Connect bypass this restriction since you are not actually handling any money? Or am I misunderstanding things? Questionable site name, but well done! :) Cheers
yup they do, thats why sites like spacebox.io & shoplocket are fine, but others are (probably) just illegally aggregating.