Hello,
I would like to use Stripe to process credit card payments. I am a land investor and am having trouble getting past the product description question since my product is real estate. What have you guys said to get past it?
Thanks!
Don’t use Stripe and don’t accept credit card payments, period.
Credit cards may be easy, but “easy” isn’t what you want when opening up a loan to a new borrower. You want them to show that they don’t need a CC to pay you. They should have plenty of cash or other sources of income to cover their loan payments, and not rely on racking up new debt to pay off the debt they owe you.
Not to mention, Stripe, or any other credit card processor, can and will shut you down immediately if they catch wind of the fact that you’re using their service for real estate, which is against their terms and conditions.
It’s not a very sound way to set up your whole book a business, unless you want your financial infrastructure to be built with a house of cards.