Tell HN: Stripe ToS update demands biometrics, freezes payments until given
16 hours ago
I've been using Stripe for my business for about a decade. Got an email from them:
> There’s an open task on your account that needs attention. To keep your account in good standing, take a moment to review it.
Unsaid is that they froze payouts until accepting their new ToS, and that they require a Photo ID plus face scan in order to comply.
I don't necessarily think requiring biometrics is a bad thing, but:
- No advance notice was given.
- A simple "[Action required] Review terms of service for {stripe-id}" email is easy to miss
- Frozen payouts can destroy a business.
This makes me rethink my relationship with them. Super disappointing.
Wait a second. You mean that until now you could just open a Stripe account with random personal details, without verification? You could just say "trust me, bro about my details", and Stripe did trust you?
Based on your description this sounds to me like a big KYC hole which they are trying to plug in now.
It would be interesting to know how many such accounts exist...
Any alternatives?