“a small startup in the infoservices space” is very vague. I wouldn’t be surprised if Stripe had some reason to be concerned. I’m not sure if it was explicitly mentioned in the post; how many chargebacks did you get, and how many refunds did you have to issue?
To me, without more background, the post strikes me as being overly sensational.
On the other hand...
It concerns me, assuming the references to Stripes T&Cs are accurate, that it is stacked so heavily in Stripe’s favor. At the very least, Stripe should be paying reasonable interest (say, the Prime rate) on the funds that it is holding.
It is getting tiring to see stories of incidents like this. Of T&Cs with draconian provisions, little transparency, and no followup. But I don’t mean that to say the stories should be removed from HN.
“a small startup in the infoservices space” is very vague. I wouldn’t be surprised if Stripe had some reason to be concerned. I’m not sure if it was explicitly mentioned in the post; how many chargebacks did you get, and how many refunds did you have to issue?
To me, without more background, the post strikes me as being overly sensational.
On the other hand...
It concerns me, assuming the references to Stripes T&Cs are accurate, that it is stacked so heavily in Stripe’s favor. At the very least, Stripe should be paying reasonable interest (say, the Prime rate) on the funds that it is holding.
It is getting tiring to see stories of incidents like this. Of T&Cs with draconian provisions, little transparency, and no followup. But I don’t mean that to say the stories should be removed from HN.