Stripe

Up until the fourth quarter of 2023, Stripe was the singular payment processor option that Lendiom offered. In Q4 of 2023, we launched our integration with PayArc. Our reasons for switching to a different processor are:

• Stripe stopped accepting new customers from Lendiom (TOS change)
• Stripe's fees are high
• Stripe's human support is tough to reach

Moving forward, any new Lendiom customers will be onboarded in PayArc as Stripe is no longer an option.

Migrating Away from Stripe

In order to migrate away from Stripe, you will first need to be onboarded with PayArc. Please see here for more details.

The next steps take some time but are straightforward:

1. Request a PAN data export from Stripe (see here for details)
2. Stripe will ask you some questions, here are the answers:
   • Type of data migration: Export data out of Stripe to a third party
   • Processor export data to: PayArc
   • Payment types: Cards and ACH
   • File format: CSV
   • Full or subset: Full
   • Any other information:
     • GPG public encryption key is located here: https://docs.payarc.net/?version=latest#c148d0b8-99ef-4da1-8d4f-99acfa67c9c3
3. Wait until Stripe provides feedback
4. TBD