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by lancecotingkeh 647 days ago
It's become more common for early stage businesses to get kicked off of Stripe. Whether that's because of more stringent rules on their end, a larger base of customers in general, or an increase of "unsavory" businesses, Stripe has unfortunately become a gatekeeper to monetizing on the internet. If Stripe doesn't like your business, it's very hard to get it off the ground.

I'm a founder that bootstrapped my previous business to $40M ARR and Stripe accidentally kicked us off for a month (and later reinstated our account) but it was almost a death sentence for our business.

I built OpenPay (getopenpay.com) because it’s the product I wish I had when I built my previous business. We offer everything you need to run your subscription business, and you can use whatever payment processor you want so you aren't beholden to Stripe.

If any founders out there want redundancy with their payment processing so the same doesn't happen to you, we're more than happy to help. Just reach out and we can get you set up.

1 comments

If you’re running your business effectively, everything should have redundancy. Including yourself.
Stripe and other payment processors make doing regular PAN data exports hard, so all the credit, debit, ACH and similar stored payment methods are trapped in their system and you are beholden to their whim.

Someone should come up with an automated payment data replication service to hassle Stripe into backing up your data to another merchant account regularly.

True but also build the contingency in your platform that one day you may need to flip a switch, collect CC info and process through another carrier.

While inconvenient, if your product serves its customers, they’ll fill it out again.

Better than sitting with $0 revenue begging a trillion dollar company to care about yours.