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Log in or sign up in seconds.| * English [ ][] [ ]limit my search to r/SaaS use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username find submissions by "username" site:example.com find submissions from "example.com" url:text search for "text" in url selftext:text search for "text" in self post contents self:yes (or self:no) include (or exclude) self posts nsfw:yes (or nsfw:no) include (or exclude) results marked as NSFW e.g. subreddit:aww site:imgur.com dog see the search faq for details. advanced search: by author, subreddit... this post was submitted on 02 Sep 2024 95 points (69% upvoted) shortlink: [https://redd.it/1f76] Submit a new text post Get an ad-free experience with special benefits, and directly support Reddit. get reddit premium SaaS joinleave148,726 readers 1,135 users here now About Discussions and useful links for SaaS owners, online business owners, and more. --------------------------------------------------------------------- Rules 1.Submission Guidelines Follow the Reddit site-wide rules and please treat others with respect, stay on-topic, and avoid non-productive self-promotion. 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You really are underestimating MARKETING. because that is what you really need. 7 * 42 comments Why nobody is taking REASONABLE time to build their products? * 3 comments Is there a YouTuber in this Subreddit? 6 * 1 comment From a Slow Start to Steady Growth--What's Next? 5 * 2 comments Most businesses run away from writing blogs. * 3 comments No idea how to monetize 29 * 27 comments How do you reduce your LLM costs? 24 * 19 comments How many attempts (businesses) did you make until you reach 5000$/ month profit? Welcome to Reddit, the front page of the internet. Become a Redditor and join one of thousands of communities. x 94 95 96 I hate Stripe, so I'm going to build my own payment processor. ( self.SaaS) submitted 10 hours ago * by Sad-Percentage4353 What do you expect from a processor and what problems you're currently facing? That's what I want to know. So, we are going to launch next year and are currently working with Wells Fargo and Deutsche Bank. Edit : Good Advice https://www.reddit.com/r/SaaS/comments/1f762xf/ comment/ll5cit4/?utm_source=share&utm_medium=web3x&utm_name=web3xcss& utm_term=1&utm_content=share_button Payment processing is just part of what I forgot to mention; we are also issuing credit cards and bank accounts.(Basically fintech company) * 233 comments * share * save * hide * report top 200 commentsshow all 233 sorted by: best topnewcontroversialoldrandomq&alive (beta) [ ] Want to add to the discussion? Post a comment! Create an account [-]farfaraway 301 points302 points303 points 9 hours ago (37 children) Jfc. You have no idea of what you are getting into. The real problem with payment processing, as a company, is going to be legal, governmental, finance, and organizational. If you think payment processing is a technical problem, boy do I have news for you. * permalink * embed * save * report * reply [-]autopicky 111 points112 points113 points 7 hours ago (4 children) I met the guys over at PayMongo - payment processor that got into YC, has Stripe as an investor, raised $46 Million I asked those same questions when they were maybe 1 to 2 years in Me: With your background (non-financial and non-fintech people), how did you plan around regulation, government, etc? Them: Oh we just didn't know about those things when we started Do NOT underestimate people who want to do ambitious things just because they're naive or don't know everything there is to know about something at this exact moment. That's literally what Stripe founders did. Solving hard problems is literally a moat because people look at the problem and decide they can't handle that. * permalink * embed * save * parent * report * reply [-]Passenger_Available 10 points11 points12 points 4 hours ago (0 children) How's paymongo doing now in relation to those things you asked? * permalink * embed * save * parent * report * reply [-]farfaraway 2 points3 points4 points 7 hours ago (2 children) I suppose that is fair. I guess that I'm just going to default negative for super hard things. If someone told me "We don't like google, so we're going to build a new one." I'd scoff in just the same way for exactly the same reasons. * permalink * embed * save * parent * report * reply [-]Plasmatica 4 points5 points6 points 5 hours ago (0 children) Building a "new Google" and building an alternative search engine are two different things. * permalink * embed * save * parent * report * reply [-]AMG-West -1 points0 points1 point 3 hours ago (0 children) Very different and you should already know that. * permalink * embed * save * parent * report * reply [-]CaptainDivano 8 points9 points10 points 7 hours ago (1 child) Leaving aside the legal compliance aspects we know about, which are indeed huge (just look at Revolut as well, 50 million customers and taking YEARS to get a banking license), the technical aspects are also to be taken in account. They are HUGE. And just to mimic a fraction of Stripe's flawless technical peak, would take years of efforts * permalink * embed * save * parent * report * reply [-]BustyJerky [score hidden] 49 minutes ago (0 children) Revolut took years because they had 50 million customers, a culture of "go fast", and a massively complicated business. If they applied for a license super early when they had 100 customers, they'd probably have gotten it within a year. * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] 18 points19 points20 points 9 hours ago* (26 children) We are working with Wells Fargo & Deutsche Bank * permalink * embed * save * parent * report * reply [-]farfaraway 30 points31 points32 points 9 hours ago (16 children) Alright. Then to answer your original question, I expect: low fees and the ability to run whatever legal business that I want. * permalink * embed * save * parent * report * reply [+]Sad-Percentage4353[S] comment score below threshold-18 points-17 points-16 points 9 hours ago* (12 children) 1% or 2% without fixed fee If you think payment processing is free, boy do I have news for you. * permalink * embed * save * parent * report * reply [-]ghad0265 23 points24 points25 points 9 hours ago (6 children) Forget it. I am not paying you 2%. Specially for a new kid in the block with lack of proper support, security and you name it. 1% maybe. No more than that. * permalink * embed * save * parent * report * reply [-]Likeatr3b 7 points8 points9 points 8 hours ago (0 children) Yeah I don't agree with much of what you said but 2% per transaction is way too high. I'd give a flat fee for Txs like .15 cents. Maybe they can make it attractive like any tx is .15 cents when the final amount is <$10. >$10 becomes .25, >$100 becomes $1, >$1,000 becomes 1%. Now that's an attractive and competitive structure. Also, some type of industry disruptive approach to freezing funds and charge backs. With all the above you have a stripe killer * permalink * embed * save * parent * report * reply [-]SleepAffectionate268 1 point2 points3 points 8 hours ago (0 children) would still be on the cheaper side if with 2% everything is paid, like generating bills etc, lemon seuqzy and paddle take 5% + fixed fee, and stripe charges extra for every recipe generated * permalink * embed * save * parent * report * reply [-]Few-Ad-5185 2 points3 points4 points 8 hours ago (0 children) Lol - the entire 2% does not go to Stripe! Its divided into multiple parts * permalink * embed * save * parent * report * reply [-]Icy_Government_8599 0 points1 point2 points 5 hours ago (0 children) I don't think 1% fees on your small business will give payment processors much revenue anyways * permalink * embed * save * parent * report * reply [-]ThePatientIdiot 0 points1 point2 points 4 hours ago (0 children) Sure you will. Startups were paying Stripe 4% when they started. If a business has a real need and they provide them with that solution, 2% is cheap. Hell, 5% is cheap depending on the sell price * permalink * embed * save * parent * report * reply [+]Sad-Percentage4353[S] comment score below threshold-9 points-8 points-7 points 9 hours ago (0 children) Yeah, you will switch to another provider if someone conducts a BIN attack on your SEO site. So, if you don't have any other options, you will come back. * permalink * embed * save * parent * report * reply [-]SilencedObserver 8 points9 points10 points 8 hours ago (4 children) There are already payment providers cheaper than stripe handling routing to one of many processors. Do you know who you're even competing with? Stripe is just one of many. Aggregators use them all. Competing with stripe is like competing with a grocery store not realizing there's a whole warehouse of logistical chains behind them that you'll never be able to compete with. Source: been there done that. * permalink * embed * save * parent * report * reply load more comments (4 replies) load more comments (3 replies) [-]Napster-mp3 8 points9 points10 points 9 hours ago (0 children) Wells Fargo, what a shitty company * permalink * embed * save * parent * report * reply [-]honestduane 3 points4 points5 points 5 hours ago (0 children) Wells Fargo? Based on that alone I expect you to try to screw me over so I probably won't use your service. I think you will find that the reputation of the people you partnered with will hurt you far more than anything else. * permalink * embed * save * parent * report * reply [-]SilencedObserver 6 points7 points8 points 8 hours ago (0 children) You're doomed if those are your partners. The point of fintech is to get away from banks - not be closer to them. Payment processing is a disastrous and fraud filled world. Godspeed. * permalink * embed * save * parent * report * reply [-]tahirspark 8 points9 points10 points 9 hours ago (2 children) Man said, I'm making an alternative payment processor and got big bank support. Whose your backing? Wells Fargo... Lol.. * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] 0 points1 point2 points 8 hours ago (1 child) Payment processing is just part of what I forgot to mention; we are also issuing credit cards and bank accounts. * permalink * embed * save * parent * report * reply [-]Few-Ad-5185 4 points5 points6 points 8 hours ago (0 children) You do understand, you are not making your answer better. Its hard in itself to be a payment processor, and you also wanna do credit card and bank account * permalink * embed * save * parent * report * reply [-]Tranxio 0 points1 point2 points 5 hours ago (0 children) It would be good to elaborate what that means * permalink * embed * save * parent * report * reply load more comments (1 reply) [-]krazerrr 1 point2 points3 points 5 hours ago (0 children) Not only that, there are time zone differences, business operating hours, and international currency exchange rates that have to be taken into account with very small margin for error. A few minutes could lead to a huge difference in a foreign currency * permalink * embed * save * parent * report * reply [-]kettle3 [score hidden] 15 minutes ago (0 children) Same reason some investors didn't invest in Paypal: rookie team, regulation nightmare. https://www.bvp.com/anti-portfolio * permalink * embed * save * parent * report * reply [-]Feisty-External-4855 0 points1 point2 points 9 hours ago (0 children) This is one of the gatekeepers but if you have networks in that industry and can help why not. ,:))) * permalink * embed * save * parent * report * reply [-]sleepyhead 187 points188 points189 points 9 hours ago (6 children) Good luck with that. * permalink * embed * save * report * reply [-]Funny_Ad_3472 18 points19 points20 points 9 hours ago (0 children) * permalink * embed * save * parent * report * reply [-]BassSounds 7 points8 points9 points 5 hours ago (2 children) I worked at a fuel card company. Man good luck with this idea, it's going to be a money siphon for nothing lol * permalink * embed * save * parent * report * reply [-]codespaghet [score hidden] 5 minutes ago (0 children) Pretty sure I worked at this same fuel card company. Rails shop. Sucked ass. * permalink * embed * save * parent * report * reply [-]Gl_drink_0117 0 points1 point2 points 4 hours ago (0 children) Curious to know why you say that. Care to expand? * permalink * embed * save * parent * report * reply [-]West_Jellyfish5578 1 point2 points3 points 2 hours ago (0 children) Came here to say that * permalink * embed * save * parent * report * reply [-]newsflashjackass [score hidden] 36 minutes ago (0 children) More realistic plan: 1. Get bitten by a radioactive middle. 2. Process payments under cover as darkness as Middleman. * permalink * embed * save * parent * report * reply [-]drunkdragon 47 points48 points49 points 9 hours ago (6 children) 99% of the people who talk about creating a Stripe competitor have no idea what they're talking about. Years ago I worked for an UK based payment processor, a smaller company than Stripe. Even that organisation had a whole accreditation team, another team to handle audits, a legal team etc. The banks won't work with you, unless you have millions of dollars and industry contacts, * permalink * embed * save * report * reply load more comments (6 replies) [-]patmayndk 19 points20 points21 points 5 hours ago (6 children) I was a part of building a PSP from the bottom up. Our biggest issue was fraud, which you have to be responsible for. And by responsible, I mean taking care of the missing money and chargeback fees. Scenario #1: 1. Some dude signs up, completes the KYC process. Everything looks good--he has a legal entity and a car tire webshop. Low fraud chance, right? 2. He starts selling tires to people across country borders. Let's say his target audience is in Sweden, but he ships from Germany. People in Sweden are willing to order from Germany, even with a 14-day delivery time, because they save money. 3. You pay out money on a rolling 7-day basis--let's even say 30 days. 4. He sells $100,000 worth of tires in that time period. 5. You pay out his $100,000, minus your 1-2% fee. 6. Meanwhile, his customers haven't received their tires. What you don't know is that they've been in dialogue with him, and he's assured them that the delay is due to shipping issues. He even gives them a discount code for next year's tires. 7. Two to three months in, customers start getting impatient and begin filing chargebacks. 8. Chargebacks start piling up, and since you are the PSP, it's ultimately your responsibility. The bank doesn't care; the customer is entitled to their money back--this is the concept of chargebacks. 9. Your bank starts asking questions about the missing $100,000. To make up for this loss, you'd need to process $5,000,000 just to break even. 10. The dude is long gone, likely onto his next legal entity. And he's probably creating a new account on your site because it worked the first time. You won't be able to recognize it's him because he has a strawman fronting the company. * permalink * embed * save * report * reply [-]patmayndk 13 points14 points15 points 5 hours ago (4 children) Scenario #2: 1. A woman signs up, completes the KYC process. Everything checks out--she has a legal entity and a clothing webshop. Low fraud chance, right? 2. She then uses the agreement not only to process payments from her clothing webshop but also to process payments for a porn website or even a casino. 3. She racks up a whopping $100,000 in payments each month. To you, it looks like she's just selling a lot of clothing. 4. You pay out money on a rolling 7-day basis--let's even say 30 days. 5. You pay out her $100,000, minus your 1-2% fee. 6. Meanwhile, the wives of the men who spent money on the casino or porn websites start questioning the strange charges on their accounts. 7. The men claim they don't know where the charges came from, so their wives drag them down to the bank to file chargebacks. 8. Chargebacks start piling up, and since you are the PSP, it's ultimately your responsibility. The bank doesn't care; the customer is entitled to their money back--this is the concept of chargebacks. 9. Your bank starts asking questions about the missing $100,000. To recover, you'd need to process $5,000,000 just to earn back what was lost. 10. The woman is long gone, likely setting up a new legal entity and preparing to make another account on your site because it worked the first time. You won't be able to tell it's her because she has a strawman fronting the company. The bigger picture: These are just two random examples out of a hundred creative ways people will try to suck every last penny out of your business. And this is only the fraudulent business. What happens when someone steals a bundle of cards and uses them on a legitimate website, causing disputes to pile up? And YES, some of them will succeed--people still do fraud at Stripe. * permalink * embed * save * parent * report * reply [-]abobobilly 0 points1 point2 points 4 hours ago (3 children) So genuine question: How do we avoid or manage such scenarios ? Provided if someone is really serious in creating a new PSP. * permalink * embed * save * parent * report * reply [-]bibstha 2 points3 points4 points 2 hours ago (1 child) Companies like Stripe have pretty strong teams fighting fraud. It's a whole science and engineering on its own. You need to hire people who have worked in this industry for a long time, because many things in this is industry knowledge. Plus this is a cat and mouse problem. Stripe has many many different models, some now AI based that constantly look for signals on the transactions to determine if this is fraud or not. As Stripe's technologies evolve, the fraudsters come up with new methods. There is a lot of money that gets moved around with fraud, and the bad guys don't just give up. If you listen to only a few episodes of darknet diaries, you'll get a sense of this. * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] [score hidden] 6 minutes ago* (0 children) The Stripe checkout flow itself is weak; they use XOR to encrypt their sessions, which can be easily decrypted. I don't want to mention any specific keys here, but these can allow you to call their internal API and bypass hCaptcha. This would enable you to exploit merchants, and, yes, Stripe will ban them regardless of how you present yourself, whether you're simping or acting legit, because they follow the law. * permalink * embed * save * parent * report * reply [-]patmayndk 1 point2 points3 points 2 hours ago (0 children) I think there are more steps to this. We were not directly impacted by it, but the scenarios i gave is real-life examples from other partners in the same industry. It's important to mention that we did not handle the banking part ourselves. Instead, we were connected to an acquirer. What we built was somewhat similar to Lemon Squeezy. This meant we still held the first point of responsibility for fraud detection and KYC. So, this was still a real threat to our business. If we failed, then the acquirer we used would have had to take on the responsibility. The last thing I heard is that, in Denmark, to become a fully self-sufficient PSP (like Stripe), you need to have around $8-10 million in your bank account as security. This security is necessary to handle potential fraud and to ensure you can cover any losses if they occur. My whole point is that I don't think the OP will simply "build" another Stripe. Given that the OP seems intent on being self-sufficient (and likely won't build a wrapper because they dislike Stripe), they face significant challenges. OP lacks both VC backing for the necessary capital and the time to develop a fraud system of this magnitude. At best, he/she will end up building a wrapper on top of Stripe or another PSP, and then he/she is back where they begun. So the original thought was just to give some examples to what kinds of shit Stripe has to deal with, if people think their system is complex. And this is probably just the tip of the iceberg, there are more complex and bigger fraud schemes out there. * permalink * embed * save * parent * report * reply [-]lazyant 1 point2 points3 points 1 hour ago (0 children) Yep. People think that PayPal, stripe, Revolut etc are virtual banks or whatever but they are really fraud detection systems mostly * permalink * embed * save * parent * report * reply [-]Cryptic911 13 points14 points15 points 8 hours ago (3 children) It seems you can't really take feedback properly, that is a first lesson. Tha said, there are businesses that can allow you to apply for embedded payment services. Depwnding on what you do on the front end (fraud screening?) you only need the provider for the actual payment. Of course, depending on the problem you want to solve. I have worked for many payment providers for over 15 years, the most complex things are not fraud and tech in general. It is compliance (licensing, KYC, scheme regulation.. and more) * permalink * embed * save * report * reply load more comments (3 replies) [-]marconmbrito 31 points32 points33 points 8 hours ago (2 children) Payments startup founder here: forget it. Go try something different. Fraud issues alone will put you out of business. No way you can charge 1%. Even 2% is impossible at low volumes, unless you're operating at a loss for a long time. Sorry for being pessimistic, but I've been at it for 3 years (POS payments, not online) and gotta say you picked the wrong issue to work on * permalink * embed * save * report * reply [-]dbbk [score hidden] 28 minutes ago (0 children) This is my thought. Even if this were feasible. Why would you want to do this? Why put yourself through this enormous stress and headache that has an extraordinarily high chance of failure anyway? And for what... to take away a tiny sliver of Stripe's customer base, with a tiny sliver of their feature set? Life is too short. Go do something interesting. * permalink * embed * save * parent * report * reply [-]Playful-Swing6101 -5 points-4 points-3 points 8 hours ago (0 children) Hi mate, I would like to connect because I'm also working on payment solutions. I'm based in South Africa and need all the advice I can get. Thanks * permalink * embed * save * parent * report * reply [-]DDayDawg 17 points18 points19 points 9 hours ago (6 children) Not trying to be mean but this is a brand new account and you come posting some unicorn fever dream about taking in a hugely difficult problem with nothing to show. If you said, "we are a group of developers with hundreds of years combined experience working with banks and payment processing with contacts in major financial organizations", well, that would make some sense. But instead this is just difficult to get behind. Wish you all the luck in the world! * permalink * embed * save * report * reply load more comments (6 replies) [-]JouniFlemming 14 points15 points16 points 9 hours ago (5 children) If you mean an actual payment processor, that is going to be very difficult because you need to meet the requirements of the credit card companies. Which is basically impossible unless you have a team of professionals with you, including data security experts and regulatory experts. * permalink * embed * save * report * reply [+]Sad-Percentage4353[S] comment score below threshold-12 points-11 points-10 points 9 hours ago* (4 children) I said we are going to launch next year, and thank you for your opinion. * permalink * embed * save * parent * report * reply [-]DepressedDrift 5 points6 points7 points 8 hours ago (3 children) If your not going to be receptive to the advice here, why post here? * permalink * embed * save * parent * report * reply [-]BloodyRutz [score hidden] 13 minutes ago (0 children) Most of the people here do not have an actual product, let alone payment processing system. * permalink * embed * save * parent * report * reply load more comments (2 replies) [-]oojacoboo 6 points7 points8 points 8 hours ago (0 children) Ah yes, the most over saturated market in existence. I get an email a day from payment processors with the next best thing. FedNow is going to destroy a large portion of these companies, as they're all competing on their risk profiles. I've been in the payments space for 15 years - don't do it. * permalink * embed * save * report * reply [-]komninosc 15 points16 points17 points 9 hours ago (1 child) Have you ever used any other gateway besides Stripe? If not, try them out, and you'll quickly get back to loving Stripe. * permalink * embed * save * report * reply [-]nsjames1 6 points7 points8 points 9 hours ago (0 children) Putting OP aside I've used many many different gateways, and stripe isn't that great. It used to be fantastic, but they just kept adding more and more cruft onto it. Their whole docs selling point when stripe first came out was "set up in as few lines as possible". Now it just seems like a giant headache. * permalink * embed * save * parent * report * reply [-]bhavaniravi 4 points5 points6 points 9 hours ago (0 children) Just build one for India. To collect international payments. Stripe support for Indian businesses is shit. For one they didn't support it for a long time, then they did but didn't really integrate with any other services properly (lu.ma). Then they removed my account and now they've introduced waitlist * permalink * embed * save * report * reply [-]mistraced 10 points11 points12 points 9 hours ago (25 children) Why do you hate Stripe? There's your problem. Now solve it. * permalink * embed * save * report * reply [-]Likeatr3b 0 points1 point2 points 8 hours ago (0 children) Wait you don't hate stripe? * permalink * embed * save * parent * report * reply [+]Sad-Percentage4353[S] comment score below threshold-9 points-8 points-7 points 9 hours ago* (23 children) Short Answer: Frauds are all about the law. There are many fraudulent activities occurring with Stripe indirectly, whether you believe it or not. So end of the day your account going to ban * permalink * embed * save * parent * report * reply [-]mistraced 18 points19 points20 points 9 hours ago (9 children) if you can build a solution that prevents fraud at a payment gateway level, you've got yourself a billion dollar company. * permalink * embed * save * parent * report * reply [-]CaptainDivano 4 points5 points6 points 7 hours ago (1 child) hundreds Billion Dollars company* It's like finding a definitive solution to DDOS, it's simply not possible. You can mitigate it, you cannot overcome it. * permalink * embed * save * parent * report * reply [-]SaltyBarracuda4 [score hidden] 48 minutes ago (0 children) You can overcome it... If you get rid of all your customers and don't let anyone use your platform * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] 1 point2 points3 points 9 hours ago* (6 children) 100% prevents : No Better than stripe : YES I'm not a fan of Stripe; Paddle is better than Stripe if you're looking for a new processor. It's my personal recommendation, but paddle has it own problems. * permalink * embed * save * parent * report * reply [-]RHINOOSAURUS 11 points12 points13 points 7 hours ago (0 children) Paddle is not a processor, FYI. They are a merchant of record that is built on Stripe (in addition to other processing partners) Merchants of record simply provide legal entities, fraud solutions and tax compliance (as-a-service). They become your legal reseller. Because of this they are unlikely to be happy taking on liability for high-risk businesses. * permalink * embed * save * parent * report * reply [-]mistraced 8 points9 points10 points 9 hours ago (1 child) You're on a roll, you just figured out another problem to solve, now solve Paddle's problem added on top of your solution for a better security system than Stripe and you'll be on the cover of Times soon! * permalink * embed * save * parent * report * reply [-]thebrainpal 0 points1 point2 points 8 hours ago (0 children) While ALSO having competitive fees. lol He's talking about a generational level company. He better have generational business skills and work ethic if he thinks he can do all that. Not that he can't, but it would be an exception among exceptions. * permalink * embed * save * parent * report * reply [-]shapeitguy 3 points4 points5 points 4 hours ago (0 children) Paddle is built on top of Stripe facepalm * permalink * embed * save * parent * report * reply [-]dbbk [score hidden] 26 minutes ago (1 child) I'm not a fan of Stripe; Paddle is better than Stripe if you're looking for a new processor. Oh my god. My dude... Paddle is a Stripe wrapper. Maybe you don't know what you're talking about after all? * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] [score hidden] 21 minutes ago (0 children) I think you don't know how to read; I would say it's a skill issue. * permalink * embed * save * parent * report * reply [-]kirso 0 points1 point2 points 9 hours ago (10 children) Fraud though is a different problem than payment processing * permalink * embed * save * parent * report * reply [-]mr_remy 2 points3 points4 points 9 hours ago (0 children) Just slap a "pattern recognizing" [DEL:AI:DEL] just another chatGPT wrapper on it and call it good! * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] -5 points-4 points-3 points 8 hours ago (8 children) Good luck with your ChatGPT! So basically, you don't know how the industry works. * permalink * embed * save * parent * report * reply [-]kirso 1 point2 points3 points 3 hours ago (0 children) With this approach I wish well to your clients. You are doomed * permalink * embed * save * parent * report * reply [-]estab87 0 points1 point2 points 1 hour ago (6 children) Respectfully, you don't sound like you know how the industry works. Maybe it's time to reconsider. Calling Paddle a better alternative to Stripe is a perfect example. They are built on top of Stripe. * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] 0 points1 point2 points 1 hour ago (5 children) Everyone knows Paddle is on top of Stripe--not just Stripe, but they also use multiple processors. However, they differ in how they process payments; it's common sense. So, don't forget that Stripe heavily depends on traditional brick-and-mortar banks. * permalink * embed * save * parent * report * reply [-]estab87 0 points1 point2 points 1 hour ago (4 children) Tell us the part that you said is common sense. There hasn't been a single comment from you in this thread that exudes any type of significant knowledge about payment processing. * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] 0 points1 point2 points 1 hour ago (1 child) I said you don't have common sense. * permalink * embed * save * parent * report * reply load more comments (1 reply) load more comments (2 replies) [-]selflessGene 0 points1 point2 points 1 hour ago (1 child) This poorly written answer tells me a lot. * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] -1 points0 points1 point 1 hour ago (0 children) I also see you're trying to heavily democratize people * permalink * embed * save * parent * report * reply [-]DepressedDrift 2 points3 points4 points 8 hours ago (5 children) What exactly are you offering, that Stripe doesn't? * permalink * embed * save * report * reply load more comments (5 replies) [-]Few-Ad-5185 2 points3 points4 points 8 hours ago (0 children) Lol you have no clue about what you are talking. Payments and finance is incredibly regulated industry. * permalink * embed * save * report * reply [-]telpsicorei 6 points7 points8 points 8 hours ago (3 children) Lot of naysayers. Sounds like you already know what you're getting into. You may have better luck talking directly to users of stripe and don't say you're building a product - just ask what they don't like about them and try to infer more details. * permalink * embed * save * report * reply [-]Sad-Percentage4353[S] 2 points3 points4 points 8 hours ago (1 child) Yeah, thank you good advice * permalink * embed * save * parent * report * reply [-]Karthi_wolf 1 point2 points3 points 3 hours ago (0 children) This book "The mom test" is pretty good on this subject if you haven't read already. * permalink * embed * save * parent * report * reply [-]sypcio25 1 point2 points3 points 8 hours ago (0 children) a bit off topic, but what's wrong with Stripe? I haven't gotten to the payment collection step with my project yet, but I could see bad opinions about Stripe in several threads. Are there any decent alternatives? I'm based in and going to launch in EU first if it matters. * permalink * embed * save * report * reply [-]rco8786 1 point2 points3 points 8 hours ago (1 child) You're going to run into all the exact same challenges that Stripe has, you should be asking yourself how your company is going to handle them differently. * permalink * embed * save * report * reply [-]Sad-Percentage4353[S] 0 points1 point2 points 7 hours ago (0 children) Stripe has more issues with fraud than Paddle; I've never encountered any fraud with Paddle. I hope that answers your question. However, Paddle has more problems than Stripe in areas unrelated to fraud, which is why I'm going to address those issues in our product. * permalink * embed * save * parent * report * reply [-]FireGargamel 1 point2 points3 points 7 hours ago (0 children) i hate billionaires, so i will become a better one. * permalink * embed * save * report * reply [-]Ready-Damage-5103 1 point2 points3 points 6 hours ago (0 children) Been in the industry way too long to go for 50/50, either you're nuts or a genius. Time will tell. * permalink * embed * save * report * reply [-]maximthemaster 1 point2 points3 points 6 hours ago (0 children) that's crazy. good luck bro * permalink * embed * save * report * reply [-]dreadthripper 1 point2 points3 points 6 hours ago (0 children) Well, there's a fair amount of skepticism in this group. I hope it works out. I will say that you are in the best possible position to respond gracefully to criticism or questions and you aren't doing that. Early customers and investors are going to be harder to get if you aren't likeable. * permalink * embed * save * report * reply [-]NodeJS4Lyfe 1 point2 points3 points 6 hours ago (0 children) How long until your company turns into Stripe? * permalink * embed * save * report * reply [-]gboostlabs 1 point2 points3 points 3 hours ago (0 children) Why do you hate Stripe? * permalink * embed * save * report * reply [-]SlinkyAko 1 point2 points3 points 3 hours ago (0 children) Working in the processing industry... good luck getting any bank or credit card company to follow along in the weed/porn segment LOL * permalink * embed * save * report * reply [-]Party-Guarantee-5839 1 point2 points3 points 9 hours ago (0 children) lol * permalink * embed * save * report * reply [-]prophase25 1 point2 points3 points 9 hours ago (2 children) It is honestly sad how many people instantly jump to, "you're fucked, don't even try" when someone brings up developing a new platform in a strongly regulated industry. Best of luck. * permalink * embed * save * report * reply [-]joshmanders 0 points1 point2 points 2 hours ago (0 children) It's wild how polar opposites this is on X. I posted about this thread and it's starting to take off, and all I said was very ambitious, good luck and everyone's coming at me like I said he'll fail or something lol. * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] 0 points1 point2 points 9 hours ago (0 children) Yes, they are limited. If you have money and understand the law, why should you fear? * permalink * embed * save * parent * report * reply [-]termicrafter16 0 points1 point2 points 9 hours ago (0 children) Wish you the best, so hopefully we get something better. * permalink * embed * save * report * reply [-]teamsteffen 0 points1 point2 points 9 hours ago (1 child) I am based in Iowa and you should take a look at our fintech banking partners. My in know a VP at a large credit union and they were and early partner of Dwolla. Several of our institutions are banks or record for surprisingly big fintech apps. I'm not fintech, just know folks who are in the know and we have some favorable conditions here for partners. Happy to connect via DM. Good luck! * permalink * embed * save * report * reply [-]Sad-Percentage4353[S] 0 points1 point2 points 9 hours ago (0 children) Thank you! Yeah, we have a few finance institution companies as well that we are partnering with. * permalink * embed * save * parent * report * reply [-]pxrage 0 points1 point2 points 9 hours ago (2 children) I hate stripe too. I think there's a simple "not stripe" competitor that's primed for take off. Tell us your story, why do you hate stripe? * permalink * embed * save * report * reply [-]Sad-Percentage4353[S] 1 point2 points3 points 9 hours ago (1 child) I'm from Japan. Back in the day, I had a small coffee shop that I sold online. I used Stripe for three years without any problems, but they banned my account due to some BIN attacks. I also contacted a lawyer, but they rejected my case repeatedly. So, yeah. If you don't understand how Stripe works under the hood, good luck; you're in a bell curve. * permalink * embed * save * parent * report * reply [-]pxrage 0 points1 point2 points 8 hours ago (0 children) I've heard this story plenty of times on places like Twitter. For example, Lemonsqueezy alleviated small business tax burden and fear - they got to 100M+ super fast as a Stripe wrapper. So there's definitely a gap in the market for what you're trying to do. I wouldn't market it as a new payment processor, I'd think about if there are any services or wrapper technology you can build on top of Stripe to address the exact BIN attack issue you experienced. Tell the story of your pain, and find others who might be in a similar situation. * permalink * embed * save * parent * report * reply [-]No_Professional7654 0 points1 point2 points 9 hours ago (1 child) What do you expect from a processor, and what problems are you currently facing? - fast, reliable, at nearly no cost, not centrally controlled - it costs way too much, a risk of a central authority can cut me off at any time I don't know what Wells Fargo is, but Deutsche Bank is another central authority. * permalink * embed * save * report * reply load more comments (1 reply) [-]MedalofHonour15 0 points1 point2 points 9 hours ago (3 children) Just use a real merchant account such as Authorize or Easy Pay Direct. Stripe is good for starting but not long term. * permalink * embed * save * report * reply [-]Sad-Percentage4353[S] 1 point2 points3 points 8 hours ago (1 child) Authorize better than stripe * permalink * embed * save * parent * report * reply [-]skinnydill 0 points1 point2 points 1 hour ago (0 children) Authorize.net is a gateway. Not really a comparison to stripe. * permalink * embed * save * parent * report * reply [-]trojans10 [score hidden] 31 minutes ago (0 children) What middleware with authorize? * permalink * embed * save * parent * report * reply [-]Namenottakenno 0 points1 point2 points 8 hours ago (0 children) Such a Chad move! Let us keep on updating * permalink * embed * save * report * reply [-]longkhongdong 0 points1 point2 points 8 hours ago (0 children) Well they made stripe cause they hated paypal. All the best. * permalink * embed * save * report * reply [-]Strong-Flatworm-7117 0 points1 point2 points 8 hours ago (0 children) Problem: They Hold payments citing AML ect I'd like a stripe competitor (B2B with the same tech) that doesn't hold your money, I'm fine with the fees. I feel you may face compliance/regulatory issues that may require you to hold money but if you can get past that it would be great. * permalink * embed * save * report * reply [-]retireb435 0 points1 point2 points 8 hours ago (0 children) lower fee like 1%. good support * permalink * embed * save * report * reply [-]nazgul_333 0 points1 point2 points 8 hours ago (0 children) Do we have a product/s which does 'We help you not get banned by Stripe'? * permalink * embed * save * report * reply [-]Queasy_Profit_9246 0 points1 point2 points 8 hours ago (3 children) I would switch to "EXACTLY STRIPE" with lower fees, but you would need to be in business for 2 years with a good track record first. * permalink * embed * save * report * reply [-]Sad-Percentage4353[S] -1 points0 points1 point 8 hours ago (2 children) People like you don't know the law. When you try to pay taxes around the world, you have to pay at least 5%. Good luck! * permalink * embed * save * parent * report * reply [-]Queasy_Profit_9246 3 points4 points5 points 7 hours ago (1 child) Stripe charge: 2.9% +1% foreign +30c or 29c or whatever and stripe WORKS FLAWLESSLY.. never had a charge back, and it's caught 100% of fraud in 8 years. I am saying you are competing with a FANTASTIC PRODUCT that I have 0 complaints with and love using. How are you planning to compete ? Edit: where do taxes come in. billing and payment processing are separate. * permalink * embed * save * parent * report * reply load more comments (1 reply) [-]dyeusyt 0 points1 point2 points 8 hours ago (2 children) Can you make the onboarding process for micro ventures and freelancers less of a nightmare. Right now, payment processors are acting like they need every fucking legal document known to man just to let me make a tiny $100 transaction. * permalink * embed * save * report * reply [-]Coz131 0 points1 point2 points 6 hours ago (0 children) That is cause of AML/kyc regulation. Regardless of if it is high risk or not. * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] -1 points0 points1 point 7 hours ago (0 children) We handle high risk, so KYC is required. Basically, are part of an automated process. When you get a payout, we manually verify the information. Micro ventures, so crowd funding ? * permalink * embed * save * parent * report * reply [-]Purple_Minute_4776 0 points1 point2 points 8 hours ago (1 child) It's less of a technical more of a legal work, dealing with scammers, banks etc. * permalink * embed * save * report * reply [-]Sad-Percentage4353[S] -1 points0 points1 point 7 hours ago (0 children) A lot of legal work is required to handle the technical aspects and mitigate the risk. * permalink * embed * save * parent * report * reply [-]dip_ak 0 points1 point2 points 8 hours ago (0 children) Are you going to solve all the fraud and dispute issues without SaaS had to submit all sort of evidences? * permalink * embed * save * report * reply [-]Routine-Alarm-2042 0 points1 point2 points 8 hours ago (0 children) Ok. Good. * permalink * embed * save * report * reply [-]NetSecGuy01 0 points1 point2 points 7 hours ago (0 children) Why do you hate Stripe? Is it a small technical glitch, bad customer service or something broken with Stripe? * permalink * embed * save * report * reply [-]OkSeesaw819 0 points1 point2 points 7 hours ago (0 children) Do you have millions of dollars, lawyers and banking licences ? * permalink * embed * save * report * reply [-]DzingDzong 0 points1 point2 points 7 hours ago (0 children) Check out the Stripe sub on Reddit to gather insights about what people "hate" about Stripe. Try to fix these pain points in your service. * permalink * embed * save * report * reply [-]MonkAdventurous1971 0 points1 point2 points 7 hours ago (0 children) If you build a stripe alternative and you charge lower fees, sign me up. * permalink * embed * save * report * reply [-]Stressedpenguin 0 points1 point2 points 7 hours ago (0 children) I would take a look at your ICP and figure out what kinds of problems they have. I personally don't think that credit cards and bank accounts are that big of an issue for a startup, but I can see the value in linking those to your payment processor if it reduces transfer time. I know everyone else is downvoting you, but I really wish I had started with Lemon Squeezy instead of stripe because of the integration with affiliate stuff and email sending. I see you've mentioned a couple potential customers: CBD and Web3. So if that is your audience, identifying platforms that they are paying for separately that you could integrate similar to what LS did above may be worth considering. * permalink * embed * save * report * reply [-]GlueStickNamedNick 0 points1 point2 points 6 hours ago (0 children) I'm a dev, I've lightly integrated stripe 4/5 times. What would be amazing is an interactive form that walks me through the process of defining the payment flow I am trying to build in to my website. Pretty much ever time I integrate stripe in doing it in a slightly different way, and sure stripe supports it, but trying to figure out the best way to get it done is really hard from reading the docs, sure it all makes sense in hindsight. So a flow chart like form builder that asks me a bunch of yes/no questions to help define the payment flow / integration would be amazing. Bonus if it generates me all the code to copy and paste over. Oh and lower fees, especially for invoice generation, that shit should be flat fee not 0.4% get outta here * permalink * embed * save * report * reply [-]CredentialCrawler 0 points1 point2 points 6 hours ago (0 children) A couple of the issues I have faced when using ANY payment processing: Foreign countries. I was trying to build a hotel reservation system for my in-laws business, but, being in a third-world country, I quickly ran into issues as inconsequential as the card reader not being supported. Another, specifically referring to Stripe: When a productID isn't found, their APIs return a 500 exception instead of a 404. Incredibly annoying. Another for Stripe: The sheer lack of customizability in specific attributes.. No, I don't want my customerID values to be "cus_xxxxxxxxxx" Another for Stripe: Foreign country test credit cards are limited. They should have one for every country they support, which they currently don't * permalink * embed * save * report * reply [-]Acceptable-Party4108 0 points1 point2 points 6 hours ago (0 children) There are several options that have api. Authorize and desposyt both great alternatives * permalink * embed * save * report * reply [-]JakeRedditYesterday 0 points1 point2 points 6 hours ago (0 children) Or try Paddle? Js. * permalink * embed * save * report * reply [-]utilitymro 0 points1 point2 points 6 hours ago (0 children) If you're going to naively contend to build a "better stripe", please do some basic work first to identify 1) the big pain points that Stripe sucks at and 2) what structures or missteps at stripes lead to those pain points existing that you think you can fix. I admire your initiative but there are hundreds of startups that you are following step for step with. * permalink * embed * save * report * reply [-]Possible-Moment-6313 0 points1 point2 points 6 hours ago (0 children) Your main problems will be legal, not technical. For one, you'll somehow have to handle sales tax / VAT in all the states/countries where this is applicable, for which you will almost certainly need a legal entity in each of those countries. Plus KYC, AML and other stupidity. * permalink * embed * save * report * reply [-]Radiant_Alana 0 points1 point2 points 6 hours ago (0 children) Besides everything being mentioned like lower fees, I'd love better data insights, no delays or inaccuracies, and preferably having an integrated system rather than depending on integrations and multiple tools to do payments, analytics, and retention experiments. * permalink * embed * save * report * reply [-]seomonstar 0 points1 point2 points 6 hours ago (0 children) I am a big supporter of thinking big and I too hate Stripe! Hope your in the valley. When Stripe started the bar was much lower, this is going to take a shed load of cash but it can definitely be done. I would want low fees, more customer loyalty eg not banning an account and taking money indefinitely for a chargeback or fraudulent purchase etc * permalink * embed * save * report * reply [-]tamar 0 points1 point2 points 5 hours ago (0 children) There are a lot of high risk merchant processors out there. You just need to know who to speak to who can connect you. That said, I work in the US but my team is in EMEA and they have lots of issues. Do you have a team yet? Would love to chat. Your issues are definitely more regulatory/compliance than technological and you need to comply with all the important elements like KYC, AML, OFAC, etc. Dealing with overseas people has taught me quite a bit about this. * permalink * embed * save * report * reply [-]Shivam_Video_Produce 0 points1 point2 points 5 hours ago (0 children) Have a great time building your product. * permalink * embed * save * report * reply [-]igorgusarov 0 points1 point2 points 5 hours ago (0 children) We need more competition on the Merchant of Record market. Do that. * permalink * embed * save * report * reply [-]DidierLennon 0 points1 point2 points 5 hours ago (2 children) !remindme 10 years * permalink * embed * save * report * reply [-]RemindMeBot 0 points1 point2 points 5 hours ago (0 children) I will be messaging you in 10 years on 2034-09-02 17:34:02 UTC to remind you of this link CLICK THIS LINK to send a PM to also be reminded and to reduce spam. ^Parent commenter can ^delete this message to hide from others. --------------------------------------------------------------------- ^Info ^Custom ^Your Reminders ^Feedback * permalink * embed * save * parent * report * reply [-]Sad-Percentage4353[S] 0 points1 point2 points 5 hours ago (0 children) !remindme 1 year * permalink * embed * save * parent * report * reply [-]phicreative1997 0 points1 point2 points 5 hours ago (2 children) Hey I hope you succeed. My only suggestion is be more open to countries like Pakistan/India. They have huge demand but are difficult to start with. Thanks * permalink * embed * save * report * reply [-]Sad-Percentage4353[S] 1 point2 points3 points 4 hours ago (1 child) We support more than 120 countries, including India and Pakistan, on the list. * permalink * embed * save * parent * report * reply [-]phicreative1997 0 points1 point2 points 4 hours ago (0 children) Love to try it then * permalink * embed * save * parent * report * reply [-]scraping_sorcerer69 0 points1 point2 points 5 hours ago (0 children) Along that line, I got an idea. Example, open an LLC in my country. All payments should stay within country's entities. Similarly for all countries. Stripe doesn't work around here. Its annoying. Anytime there's a dollar transaction, they think it's money laundering. Keeping money within the country doesn't cross that barrier. * permalink * embed * save * report * reply [-]mike_piercy 0 points1 point2 points 5 hours ago (1 child) Pretty sure that's how Stripe actually started. The brothers saw a flawed software market and just said, let's build a better one. Best of luck with it! As a web developer, having a more streamlined integration with the likes of WooCommerce would be useful! * permalink * embed * save * report * reply [-]Sad-Percentage4353[S] 0 points1 point2 points 5 hours ago* (0 children) That's how Stripe, Adyen, started; they followed the same way, even Mercury Bank. * permalink * embed * save * parent * report * reply [-]shapeitguy 0 points1 point2 points 5 hours ago (0 children) If you're comfortable with 0.05% of success why not! * permalink * embed * save * report * reply [-]shapeitguy 0 points1 point2 points 4 hours ago (0 children) I've used stripe for ages and that's the least of my worries. * permalink * embed * save * report * reply [-]RadsNetic 0 points1 point2 points 4 hours ago (0 children) Are you building an e-wallet kinda app? * permalink * embed * save * report * reply [-]TakeFourSeconds 0 points1 point2 points 4 hours ago (0 children) Why do you hate stripe? I haven't really had many issues with them. It would be pretty hard to convince me to change tbh * permalink * embed * save * report * reply [-]PanicStil 0 points1 point2 points 4 hours ago (0 children) What's wrong with stripe * permalink * embed * save * report * reply [-]atomey 0 points1 point2 points 4 hours ago (0 children) Why do you hate Stripe? Didn't see this anywhere. Why would I use your hypothetical product? Stripe seems to be the best payment processor in terms of tech and customization potential. The main downside is if you integrate tightly with Stripe and Stripe closes your account, you're screwed. Make sure you follow their terms closely and manage risk internally very well with customers. * permalink * embed * save * report * reply [-]clickyspinny 0 points1 point2 points 3 hours ago (0 children) You are obviously u/Steelsixactual * permalink * embed * save * report * reply [-]PennyWhise4 0 points1 point2 points 3 hours ago (0 children) Drop us a preorder offer. I'm going to support this. * permalink * embed * save * report * reply [-]pixobe 0 points1 point2 points 3 hours ago (0 children) All the best , ignore all the negative comments over here . I am glad am seeing some real initiative for the first time , instead of some AI wrappers and screenshot builders in the name of SaaS. * permalink * embed * save * report * reply [-]b2bdemand 0 points1 point2 points 3 hours ago (0 children) OPs comments are hilarious. I want to see them build in public for the entertainment * permalink * embed * save * report * reply [-]Mawk1977 0 points1 point2 points 3 hours ago (0 children) Do not build your own! There's nothing you can do that would be a competitive advantage. You basically said you don't like Amazon and you're going to build your own. I own a subscription reporting SaaS that reports on Stripe and I can tell you in just the reporting there's a billion edge cases no one realized. * permalink * embed * save * report * reply [-]srezly 0 points1 point2 points 3 hours ago (0 children) just use Bitcoin. * permalink * embed * save * report * reply [-]AMG-West 0 points1 point2 points 3 hours ago (0 children) Don't waste your time asking questions on a sub like this. This place is filled with a lot of crabs trying to escape the same bucket you're asking escape directions for. There are much better places to ask your questions such as all the places online business owners go to complain about payment processing. There are endless stats and data for you to look at published by government and private sources. Rather than trying to beat them, you might want to consider joining them by offering them a service. It was about 6 months ago when I watched a YT video from one of the Stripe founders. He mentioned something about "outside partners" and something to do with fraud prevention. I'd link if I could. After you figure out what to do, cone back to a place like this to ask how to do the technical side of it. Good luck and remember for everything that has worked, there have always been friends, family, and random strangers who said it can't be done, especially by the people wanting to do it. * permalink * embed * save * report * reply [-]salilsethi 0 points1 point2 points 3 hours ago (0 children) What do you hate about Stripe? * permalink * embed * save * report * reply [-]dandigangi 0 points1 point2 points 2 hours ago (0 children) * permalink * embed * save * report * reply [-]Apprehensive-Luck-19 0 points1 point2 points 2 hours ago (0 children) Nice, while you are at it build Space-X alternative too. * permalink * embed * save * report * reply [-]l4r-s 0 points1 point2 points 2 hours ago (0 children) since stripe bought lemonsqueezy a MOR option would be nice in your offer! In LMSQZ i always get confused about the test mode of a store and would love to make a test purchase on the prod store. * permalink * embed * save * report * reply [-]s_busso 0 points1 point2 points 2 hours ago (0 children) I hate Stripe why? * permalink * embed * save * report * reply [-]Impressive_Safety_26 0 points1 point2 points 2 hours ago (0 children) is this SAASstreetbets? this is the most wsb comment ive seen. Godspeed regard * permalink * embed * save * report * reply [-]powerpoint_warlord 0 points1 point2 points 2 hours ago (0 children) Good luck. Read up on Bolt and see what happened there * permalink * embed * save * report * reply [-]kthulustoe 0 points1 point2 points 2 hours ago (0 children) I guess everything starts from nothing... Oh yeah, except fintech. * permalink * embed * save * report * reply [-]michaeleatsberry 0 points1 point2 points 2 hours ago (0 children) !remindme 1y * permalink * embed * save * report * reply [-]dra234 0 points1 point2 points 2 hours ago (0 children) PM me, I wanna help. I have tons of experience on product side as a Product Designer but also as a Product Owner in payments. I've worked almost with everyone, from payment networks to acquirers and banks on onboardings, merchant portals, back-office systems, partner portals and dev portals. * permalink * embed * save * report * reply [-]path2virtue 0 points1 point2 points 1 hour ago (0 children) Good luck buddy. It won't be easy, but we're rooting for you. Hope you prove the haters here wrong. Godspeed. * permalink * embed * save * report * reply [-]Ghost-Pay 0 points1 point2 points 1 hour ago (0 children) This is a tall order. Not saying it cannot be done, but you will need a massive team, and a huge inhouse dev team and probably need to work for around 3 years before you can even launch. I say this as a true warning. I am working with a true new payment processor, to compete with TSYS. Recently they got funding from one of the largest PE firms, have around 15 devs in the US, are 2 years in, and can just now do merchant for ecommerce only and only low risk. The fees alone will probably smash you. * permalink * embed * save * report * reply [-]stonediggity 0 points1 point2 points 1 hour ago (0 children) It's all the legal and government stuff you're gonna have issues with. Good luck! * permalink * embed * save * report * reply [-]kachumbarii 0 points1 point2 points 1 hour ago (0 children) In summary, Solve fraud and fees by processing lower amounts. i.e like max $100 per transaction. Limit the max value per transaction. Get fraud insurance too and attempt to predict fraudulent transactions. Increase the cap as trust is built. Find easy things in stripe that you can copy to add value, charge the transaction fees plus maybe a monthly subscription for everything else. * permalink * embed * save * report * reply [-]SaltyBarracuda4 [score hidden] 57 minutes ago (0 children) Is it going to have blackjack and hookers? * permalink * embed * save * report * reply [-]Loose-Discipline-206 [score hidden] 48 minutes ago (0 children) This comment section is far more interesting than I've expected. Thanks * permalink * embed * save * report * reply [-]Dry_Gazelle8010 [score hidden] 37 minutes ago (0 children) 0 chance homie. * permalink * embed * save * report * reply [-]flyrom [score hidden] 37 minutes ago (1 child) As someone who works in Fintech at a big tech company, don't. 5% of the problems in my job are technical and the other 95% are from legal & compliance. Trying to pass a PCI audit as a new startup from someone with no experience in payments sounds miserable. * permalink * embed * save * report * reply [-]Sad-Percentage4353[S] [score hidden] 31 minutes ago* (0 children) You never learn how to give the correct answer, so you deserve your 9-5 job. I never asked how to do it; I said, 'What problem are you currently facing, and we are going to launch next year?' Yeah, I can just look at r/stripe, but I also want to ask here. So are you saying I shouldn't ask here? * permalink * embed * save * parent * report * reply [-]Zuber-M [score hidden] 18 minutes ago (0 children) Whats wrong with stripe. It works money comes in. Easy. * permalink * embed * save * report * reply [-]Zuber-M [score hidden] 14 minutes ago (0 children) Do these 1. Merchant of record for physical goods not just saas. 2. Subscription billing with very flexible options like 5 days free or 90 days free. 3.offer credit cards to companies without a huge deposit requirement. 1. Crypto friendly 2. Buy now pay monthly options built in That would be great. * permalink * embed * save * report * reply [-]dzuczek [score hidden] 10 minutes ago (0 children) I can't think of one thing I don't like about Stripe. Give me any other payment gateway and I'll write a book. Good luck though. * permalink * embed * save * report * reply [-]coding_for_lyf 0 points1 point2 points 8 hours ago (5 children) So much negativity. OP I hope you succeed! This is probably the same reaction most founders experience when they say they're going to do something hard. Ignore them! * permalink * embed * save * report * reply [-]Low-Marionberry-8781 0 points1 point2 points 6 hours ago (2 children) Exactly, there are always people like that, no one knows if it will succeed or fail, You just just have to try things, if it works then conguragulations, if it fails, then learn from the mistake and try another thing. * permalink * embed * save * parent * report * reply [-]JakeRedditYesterday 1 point2 points3 points 6 hours ago (1 child) The idea itself is already an uphill battle and OP's attitude isn't going to help things, 99.99% this will fail. * permalink * embed * save * parent * report * reply [-]Low-Marionberry-8781 0 points1 point2 points 5 hours ago (0 children) But at least you didn't say 100%, blessings are not the same, everyone is blessed differently, and on top of that people have different types or blessings or luck, i don't believe business success if mainly on analytics, being luck, blessed, maybe he has a bad attitude but we made different, am a football fan but i watch people with bad manners or behaviors archive things and i wander, and you have proved me on these quotes which say work on things which people see as impossible , theses are just my opinions, am not here to mis lead anyone, these are just my opinions * permalink * embed * save * parent * report * reply [-]Low-Marionberry-8781 0 points1 point2 points 6 hours ago (0 children) Exactly, there are always people like that, no one knows if it will succeed or fail, You just just have to try things, if it works then conguragulations, if it fails, then learn from the mistake and try another thing. * permalink * embed * save * parent * report * reply [-]Low-Marionberry-8781 0 points1 point2 points 6 hours ago (0 children) Exactly, there are always people like that, no one knows if it will succeed or fail, You just just have to try things, if it works then conguragulations, if it fails, then learn from the mistake and try another thing. * permalink * embed * save * parent * report * reply [-]Temporary_Practice_2 -1 points0 points1 point 9 hours ago (0 children) Good luck * permalink * embed * save * report * reply [-]SithLordKanyeWest -1 points0 points1 point 6 hours ago (0 children) You should try talking to customers, having the problem yourself, instead of posting on Reddit trying to do customer discovery. * permalink * embed * save * report * reply [-]Inc9d -1 points0 points1 point 5 hours ago (2 children) If you really will build stripe alternative make it available in Russia, please * permalink * embed * save * report * reply [-]monkey6 0 points1 point2 points 3 hours ago (1 child) Actually don't, Putin deserves to be cut off from the modern economy. Also, you can't. Google "bank Russia sanctions" https://en.m.wikipedia.org/wiki/SWIFT_ban_against_Russian_banks * permalink * embed * save * parent * report * reply [-]Inc9d -1 points0 points1 point 3 hours ago (0 children) Kekw * permalink * embed * save * parent * report * reply load more comments (1 reply) * about * blog * about * advertising * careers * help * site rules * Reddit help center * reddiquette * mod guidelines * contact us * apps & tools * Reddit for iPhone * Reddit for Android * mobile website * <3 * reddit premium Use of this site constitutes acceptance of our User Agreement and Privacy Policy. (c) 2024 reddit inc. All rights reserved. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. [pixel] p Rendered by PID 41814 on reddit-service-r2-loggedout-68d5c86c76-c4wmr at 2024-09-02 23:00:29.941155+00:00 running e78bb0a country code: US.