Stripe Merchant Account Wrongfully Terminated
We have been using Stripe for over a year with great success then all of the sudden received a message that they were unable to cater to our buinsess model for our texting service MARIText.com. Since then we have moved to another processor with better rates, received our money from Stripe in full within a week and that was all.
One of our clients mentioned to us that a competitor of MARIText.com, SlickText.com, also uses Stripe to process payments. Baffled with this discovery, we investigated the source code of SlickText to find that our clinet was telling the truth. We contacted Stripe several times with no reply of why they would terminate our merchant account yet keep SlickText.com merchant account live.
Although our integration to our new processor was easier, cheaper and faster than getting started with Stripe, we feel some sort of discrimination that the MARIText business model is exactly like SlickText yet our account was terminated. We hope this helps anyone who has any legitimate SaaS business and has been discrimated by Stripe. Good day.