[giancarlostoro]

Today its $5 MRR... tomorrow it could turn into millions annually. They are shooting themselves in the foot. They live to give startups a leg up in terms of monetizing. I doubt this issue would take more than an hour for someone to look at it and realize someone goofed internally. Hell, someone internally goofed and wasted more money probably by not being thorough thereby forcing further time wasted.

[nickphx]

Stripe approves accounts without underwriting.. They wait until the account begins to process transactions before underwriting.. This is the result.

[jabart]

I don't believe this to be true. In the US you have KYC laws which are a part of underwriting. We also use Stripe Connect which also onboards new stripe accounts and can watch the automated underwriting happen.

[nickphx]

KYC is part of the underwriting process... You have to first know your customer before you can understand their business and assume the risk of processing their transactions..