- Report: #1153066
Report - Rebuttal - Arbitrate
Complaint Review: STRIPE
STRIPE Stripe Payments, Stripe.com Racketeering is ILLEGAL, Why hasen't Stripe's Owners Been Arrested!? Internet
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I signed up with Stripe so that I could accept credit card purchases through my new business's website. Signing up for Stripe was very simple, their website interface was easy to navigate and their fees (the ones they tell you about) were reasonable. What's not to like?
I immediately began taking orders by customers paying with credit cards. By immediately, I mean from the first day I integrated Stripe payments, I started receiving credit card orders. I could see by logging in to my dashboard on Stripe's website that each card was verified, and in big green letters said "passed!" next to CC number, cvv code, zip code, etc. I was happy.
However, I noticed an order with no name and thought to myself, how did they pass credit card verification without entering their name? so I emailed Stripe to ask. They told me that no credit card issuer/bank or institution verifies name. I was confused because I knew first hand that this was an outright lie.
Very soon after, this charge, along with 2 more (out of a total of roughly 20 credit card orders), was disputed by the cardholder as fraud. Stripe deducted the funds from my bank without notice, along with an extra $15 fee per chargeback ($45 in fees). Stripe would not give me a contact phone number to reach them, nor would they call me after repeated requests. I then canceled my account.
When all was said and done, every single credit card purchase taken and "verified" by Stripe was disputed as fraudulent. Stripe was unconcerned, stating that this was "common". They refused to give me contact info for the banks who issued the cards and were handling the chargebacks, telling me "they do not provide us with any information about the chargebacks or how to contact them". They even went as far as to tell me they didn't even have the name of the banks. But, somehow were able to pass on my chargeback rebuttals that I was forced to do on Stripe's website instead of directly with the bank, to each respective bank.
Lastly, I lost every single chargeback except for one, which just happened to be the order with smallest dollar amount of all the other orders. For about 6 of the chargebacks, after lots of legwork and money, I was able to trace the IP addresses logged at time of order to the actual card-holder's address, I even had an acceptance signature for the delivery on an order. This proves that the cardholder lied about the fraud. Stripe said I lost that dispute and refused to give me any information whatsoever about the bank or how to contact them.
The problem is that Stripe purposely creates an environment where stolen credit cards can easily be used without declining. They then charge a $15 fee to the merchant when the actual card-holder reports the fraud and then does everything in their power to make sure the merchant does not win the chargeback.
Stripe not only uses deceptive practices, but outright illegal practices. I am currently beginning a lawsuit against them and intend pursue criminal charges for racketeering as well.
This report was posted on Ripoff Report on 06/08/2014 11:24 AM and is a permanent record located here: http://www.ripoffreport.com/r/STRIPE/internet/STRIPE-Stripe-Payments-Stripecom-Racketeering-is-ILLEGAL-Why-hasent-Stripes-Owners-B-1153066. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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