My understanding is that stripe has always done some level of fraud protection (e.g. Monitoring to ensure someone isn't incrementing through card numbers to find one that works)<p>This seems like a necessary component of any "effective acquiring bank"[1] because of where the liability falls. In the event of fraud, Stripe can get hosed and they need to protect themselves.<p>I imagine they wouldn't have taken the step of lowering their payout delay from 7 days to 2 days unless they were confident in their fraud detection abilities.<p>Can you elaborate on what about WePays fraud protection is better? Am I dead wrong?<p>Note: in no way affiliated with Stripe, just once considered starting something in this industry.<p>[1] I'm defining Stripe and WePay as "effective acquiring banks." I guess you can call them ISO's too. They're positioned somewhere in the web of words - but bottom line is that their the ones that find merchants that need to process cards.
I find this hugely compelling. Fraud protection is a huge time sync for most e-commerce providers.<p>Bill - could you please explain some of the fine print? Are all chargebacks covered? Do you provide the ability to select which countries to accept payments from? Thanks so much!
Fraud protection is an odd marketing angle.<p>The merchant bank is the one that gets hosed due to fraud, so anti fraud technology helps Stripe, Paypal, WePay, etc. WePay is marketing that they are very good at not screwing themselves.<p>There are clients that care about anti-fraud, such as ecommerce companies that ship high value electronics, but WePay has no experience in this category.<p>The crowd funding space has fraud issues as it is a method for turning stolen cards into cash, but reversing a pledge is a lot easier than un-shipping an xbox.