hvmp-action-hold | Stripe Developers | Page 1

slow prairie Jul 14, 2022, 4:47 PM

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Yeah never ever do that

rare herald Jul 14, 2022, 4:47 PM

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😄 haha

slow prairie Jul 14, 2022, 4:47 PM

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Banks do not take kindly to having numerous authorizations on a card. Also many banks hold funds for days even if you release/refund the auth

rare herald Jul 14, 2022, 4:47 PM

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I figured as much.

slow prairie Jul 14, 2022, 4:47 PM

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Really you can't take a hold on the card in this situation. You have to trust they will pay and when the auction is over you charge their card

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if it gets declined you can ask the second highest bidder, etc.

rare herald Jul 14, 2022, 4:48 PM

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Yeah, I'm thinking we could potentially do a "bring money to the table". IE user declares how much they want to bring to the auction, secure a charge hold, if they win we capture, release the rest. Is this also inadvisable?

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The "trust" model in our business is... not a good way to do it. It's very hypey and people may bid w/ money they dont have 😦

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If we can avoid it in any way we'd like to. Or I would.

slow prairie Jul 14, 2022, 4:50 PM

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Well if I come to an auction and bid $10, I won't tell you I'm ready to go up to $100

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if I did, you'd fake the auction and make me pay $95 :p

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so I don't see how it'd work really, when you build a business like yours, you collect card details, save them and charge at the end of the auction

rare herald Jul 14, 2022, 4:50 PM

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LOL. Yeah.. they do have to "trust" us.

slow prairie Jul 14, 2022, 4:50 PM

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but it goes both ways

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ultimately if they bid $500 and don't have the money then the previous bidder wins and you charge them

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or you have your own legal proceedings to get the money they owe you

rare herald Jul 14, 2022, 4:51 PM

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Yeah, that's better. People are proposing a "wait 7 days for them to get funds" but that seems like a nightmare.

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Ok. This has been super helpful advice, I appreciate you 🙂

#hvmp-action-hold