[HN Gopher] I hate Stripe, so I'm going to build my own payment ...
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I hate Stripe, so I'm going to build my own payment processor
Author : lopkeny12ko
Score : 44 points
Date : 2024-09-02 21:30 UTC (1 hours ago)
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| talldayo wrote:
| One must imagine Sisyphus happy.
| cranberryturkey wrote:
| how so?
| talldayo wrote:
| Regression pulls things towards the same point after a long
| enough time, like gravity pulling a boulder from the top of
| the mountain to the bottom. Resisting that regression,
| although pointless, has to be enticing enough or else you
| would simply give up. So Sisyphus had to have a positive or
| satisfied mindset to see the meaningless result of his
| actions and repeat it.
| fragmede wrote:
| They don't say why the hate Stripe, but presumably Stripe closed
| their account for fraud/spam/PBL reasons and took "their" money
| and won't give it to them. Whether or not this person/team
| succeeds, the real point is that spite is a powerful motivator.
| We all find motivation, in our own places, in our own ways, and
| spite is up there.
| hughesjj wrote:
| Yeah, you nailed it. They claim that their Japanese online
| Coffee shop was hit by a BIN attack and strip wouldn't let them
| back in, but didn't exactly give any details
|
| https://old.reddit.com/r/SaaS/comments/1f762xf/i_hate_stripe...
| Ferret7446 wrote:
| Good luck to them, but this is the "reason" crypto exists. I
| don't think we need (or can sustain) dozens of payment
| processors all with their own flavor of politics/dispute
| resolution quirks.
| bbarnett wrote:
| Crypto is going no where, as an end user payment option,
| until consumers can do chargebacks.
|
| There are ways to solve this, but they involve gatekeeping,
| which of course puts us back at step one.
| Etheryte wrote:
| I'm not sure this is a convincing take on crypto. At the end
| of the day, you still need an on ramp and off ramp to deal in
| it, regardless of whether that's a bank or some other third
| party. We've already seen multiple times that e.g. certain
| blockchain assets are blacklisted. If you ever tried to move
| or cash them, the most likely outcome is a SWAT team at your
| door once there's a link to your name, similarly any
| financial institutions or corporations mediating it would
| face severe punishment. So effectively those assets are
| fenced off, no one wants the risk, and the end result is not
| different from regular finance.
| jongjong wrote:
| These days, it's probably easier to obtain a share of big tech
| profits by engaging in government regulatory shenanigans than to
| compete against big tech and 'earn' the same amount of money 'on
| the free market'.
|
| If I was OP, I would just try to get a job as a financial
| regulator and create more regulations in exchange for a cushy job
| after.
| cowsup wrote:
| They seem against any nay-sayers, so I'll respect that and bite
| my tongue.
|
| The silver lining is that, their idea (which they later reveal
| that they "forgot to mention" will also include full banking
| support and the issuance of cards) is _very_ complicated and will
| require years of non-stop planning and paperwork before a single
| customer can be onboarded.
|
| This isn't handing your friend the keys to a jet and letting them
| fly a plane, this is your friend wanting to enroll in pilot
| school. It's good to try, and, if you realize it's not for you,
| there's nobody harmed as a result.
| memset wrote:
| Stripe used to have really simple docs: paste in some js, paste
| in some example code on the backend, and you're good to go.
|
| Now it's really really confusing. Payment intents are confusing.
| Figuring out which part of the docs I need is confusing. Figuring
| out the limitations of the self hosted checkout pages is
| confusing. The pricing is confusing. There's narrative for one-
| click checkout that is comparable to PayPal (I guess there is
| "link" but seems like a separate thing?)
|
| Give me a thing I can copy and paste. Give me a hosted
| subscription management page.
|
| Finding a way to allow legal businesses to operate would be huge,
| though my impression is that you get yanked around by banks a
| lot.
|
| Don't nickle and dime me on features. Make it easy to get reports
| out.
| m11a wrote:
| Although I agree with all the issues you raise, I think the
| confusing nature of the pricing is by design.
|
| Stripe's fee model probably makes serious bank, because it's
| quite non-transparent and basically nothing is provided for
| free. Want even the slightest extra feature? +1% of your
| revenue (and repeat)
| bbarnett wrote:
| Ah, the "we're out of ideas and have nothing, time to squeeze
| until the company dies, to chase stock price" phase of a
| business.
|
| Like your cable company!
| lotsofpulp wrote:
| > Stripe's fee model probably makes serious bank, because
| it's quite non-transparent and basically nothing is provided
| for free.
|
| Whatever it is making, it is apparently not enough to IPO. I
| would temper my expectations.
| brezelgoring wrote:
| I'd say it's not enough to satisfy early investors, who
| probably want a 10~50x return before IPO. They could
| definitely go public if they wanted to, and do 'well'.
| Crespyl wrote:
| Does Stripe _need_ to IPO? Are they just privately held, or
| do they have VCs or others that need to be paid back?
| 0cf8612b2e1e wrote:
| You can make plenty of money and still be private. Look at
| Steam.
| danpalmer wrote:
| It's worth noting that most customers with any volume will be
| on custom contracts that will either be cheaper, include more
| features, or both. At my previous workplace we had this with
| relatively modest revenue and would renegotiate every year or
| two.
| pier25 wrote:
| Stripe has both hosted checkout and subscription management
| pages.
| TheSmoke wrote:
| In case they need to figure out what exactly they need to do:
| https://news.ycombinator.com/item?id=30650828
| egypturnash wrote:
| seven years from now, this person will have become _everything
| they hate_ about current payment processing methods.
| kulahan wrote:
| Didn't the creator of stripe have it written in like, a few
| months? Iirc, he spent years dealing with regulations, not tech
| issues.
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