If you're trying to get started in eCommerce (or any business that handles money -- basically, all of them), then be prepared for all the payment processor bullshit! (mini rant) entrepreneur how earn by blogging blog

Just wanted to get this off my chest after dealing with payment processor problem after payment processor problem.

So I run a relatively successful dropshipping business and make over $10k in sales a day.

Now, because of the nature of my business (aka dropshipping), I've been hit with so much BS regarding payment processors. At first it was AliPay, then after that it was Stripe/Shopify, then after that it was my credit card company, after that it was my god damn bank account, after that it was Facebook, and just recently it was PayPal.

Of course, I got all of these issues resolved (with the PayPal limitation being resolved today -- thank God I don't have a hold on my account or a rolling balance), but I just wanted to warn you guys that this shit is gonna happen in one way or another.

But even though I say this is all "BS", I can totally understand why these payment processors do what they do. Basically, it's for risk/fraud protection. They want to make sure you're legit and not scamming people out of money... or... they want to make sure you're who you claim you are and not being an identity thief or whatever.

So, now that you know you're probably gonna face these issues somewhere down the line (if you're starting out), how can you protect yourself against these holds, limitations on your accounts, and ID verification periods?

You can't! It's inevitable.

However, what you CAN do is save up all your money to be prepared for the downtime of these payment processors. So when starting out, SAVE ALL YOUR MONEY. Don't spend it on anything except things related to your business.

Luckily, I was profitable from the 2nd day I launched so I've had a good amount of money saved up (and wasn't affected by these holds or ID verification periods).

But if you're like most business owners and only breaking even or taking a loss, then find a way to save up some capital to soften the blow when this happens. If you don't already have a job, then get yourself a part time one or something. Mow someone's lawn. Sell stuff you have around your house that you don't need. Sell your body on the street (jk).

Just try to be prepared for it as much as possible because it's going to happen to you (when you start doing enough sales volume).

So yeah. This was more of a rant and kind of a celebration on my part because they finally released my PayPal account (yay!! now I can go back to making $3k - $5k profit a day!!), but I'm hoping this post also helps aware you fresh entrepreneurs out there about the type of stuff you're gonna have to face if you wanna run a successful business.

Be prepared to rip all your hair out from frustration.

submitted by /u/aminmo
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