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A comment on Stripe: instant payment processing for developers. Parent comment

Re:Stripe: instant payment processing for developers by white_devil on Thursday September 29, 2011 @08:47PM (#3055003)
Seriously, I really need to know something about this. It's driving me mad to keep seeing promising payment services only to find out they won't deal with me.

Yours is the most compelling one I've seen.

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Re:Stripe: instant payment processing for developers by _delirium on Thursday September 29, 2011 @08:53PM (#3055019)
One major barrier is that in many countries it's difficult to set up a service like this in a way that doesn't require it to be a bona-fide "bank", and setting up a bona-fide bank is often not low-overhead.
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Re:Stripe: instant payment processing for developers by white_devil on Thursday September 29, 2011 @09:00PM (#3055038)
Do they even need a presence in other countries to be able to work with companies in them?
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Re:Stripe: instant payment processing for developers by maaku on Friday September 30, 2011 @01:04AM (#3055754)
The Patriot Act.
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Re:Stripe: instant payment processing for developers by jules on Friday September 30, 2011 @05:31AM (#3056318)
While this reply is short it is right. The Patriot Act is the reason why these nice things generally aren't available to non US citizens. Patriot Act Section 312: http://ithandbook.ffiec.gov/media/resources/3356/con-usa_pat...

As you can see if you want to provide this service to a foreigner then you need to do checks on this person and his bank. This costs such much that most will decide that it is not cost effective to do so.

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Re:Stripe: instant payment processing for developers by white_devil on Saturday October 01, 2011 @08:55AM (#3059961)
This costs such much that most will decide that it is not cost effective to do so.

Well, why do their representatives insist it's a "top priority" then?

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Re:Stripe: instant payment processing for developers by jules on Saturday October 01, 2011 @01:41PM (#3060563)
Presumably they will set up a company in Europe instead of handling it from the US company, but this takes extra time and effort so most companies start in the US (and empirically they stay that way until they become very big).
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