Ask HN: Stripe is asking for bank statements to check financial health

Isn’t stripes job to simply process payments? What kind of liability would stripe need to account for any merchant processing 1$ on its behalf?

5 points | by kinj28 19 hours ago

1 comments

  • kasey_junk 17 hours ago
    There are lots of different places credit is extended between counterparties in the credit card processing flow.

    The most obvious one for processor to merchant is chargebacks. The window fo those can be up to 6 months.

    Bank statements might also be used for fraud prevention and kyc requirements.

    Disclaimer: I used to work at stripe but not in this area and I don’t know the specifics of why Stripe is asking for these documents.