STRIPE STRIPE.COM Stripe.com damages small businesses through unethical conduct

Stripe.com handles credit card (merchant) processing for internet transactions. 

I am making this report to warn and caution any small to medium sized company to stay away from Stripe. They act unethically and will intentionally damage your standing with any other merchant processing company.

If you experience a problem of any kind, dealing with Stripe is near impossible. If any company refuses to allow you to communicate with a manager, hides their physical address, and otherwise makes it impossible to communicate with them, don't walk run.

My company has both B2B business and B2C business. We process roughly $500,000.00 in monthly credit card transactions. We used Stripe just for B2C, or less than 10% of our volume. Our fraud rate is near 0% on both. However, with Stripe, the fraud rate skyrocketed. Where most processors will not put through a transaction with an incorrect address, Stripe processes just about any transaction and then faults the merchant.

To any merchant new to merchant processing, be warned that this type of activity has serious consequences for a merchant, as the industry will flag your account and no other processor will work with you. For less than $2,000.00 in fraudulent transactions, made possible by Stripe's non existent security, working with Stripe will put your ability to handle credit card transactions at risk.

When this occurred with my company, we attempted to reach out to Stripe. The support employee refused to connect us with a live human being. When asked for the contact information for anyone in management, the support person flat out refused. If there is a company that hides its physical address, will not reveal officers and managers, and will not put a human face to a problem, odds are 100% that they are intentionally acting unethically and fraudulently.

That is our experience with Stripe.com.  We caution any merchant considering signing up with Stripe.com to think twice and walk away quickly. The experience may cause serious harm to your ability to conduct business online.