Similar to what privacy.com does for consumers
Stripe Issuing – An API for creating physical and virtual cards
131–140 of 217 posts
Re: Stripe Issuing – An API for creating physical and virtual cards
#132A couple of very important questions, which are not addressed on the landing page: 1. Who is the back-end issuer of the cards? 2. Are we talking credit, debit, or both? 3. What are the associated fees (issuance, re-issuance, branded issuance, charges)? 4. Is there any interchange revenue-sharing and if so, in what percentage?
On the landing page, you can see that it’s debit.
From docs: "Learn how to create cardholders and issue credit cards to them."
Landing page have multiple cards of different types, including debit and credit.
Re: Stripe Issuing – An API for creating physical and virtual cards
#133Awesome! Now it's official. I worked on MVP with Stripe Issuing API. That was a cool experience.
Re: Stripe Issuing – An API for creating physical and virtual cards
#134Earlier quoted context omitted.
(I work on Stripe Issuing.) We've been primarily focused to date on companies where issuing cards is core to providing their business to customers, for example a startup that provides expensing customers, or a platform that needs to purchase goods in the real world. We're less focused on a business just using it for their own expensing (as we don't have receipt upload functionality, etc). To your two other questions…
As a credit card customer it would be nice to be able to generate one or more temporary cards (physical or not), which are authorized for one transaction only, but are otherwise identical to my main card. That way I can use it with a merchant I simply don’t trust to have their act together, then safely toss it in the trash.
Have you looked into the existing options? Citi and Bank of America for example support virtual card numbers (virtual account numbers and ShopSafe, respectively).
Re: Stripe Issuing – An API for creating physical and virtual cards
#135Earlier quoted context omitted.
Not sure if you know, but Bank of America, Paypal and others have tried this a long time ago (in Internet years). They all abandoned this idea, iirc because of the upkeep costs (?) and massive amount of fraudulent use.
Fraud is what I keep thinking about. Hopefully Stripe put in place some robust tracking, or it will get messy.
I suspect the key fraud deterrent is that funds must be available in Stripe in order for the card to accept the transaction. In other words, if I issue a card via Stripe and you attempt to use it fraudulently, I'm on the hook for the transaction either way.
Re: Stripe Issuing – An API for creating physical and virtual cards
#136Earlier quoted context omitted.
Really? It may be an A/B test with different copy, because I don't see anything.
I don't see anything on the landing page either, but this text from the "overview" page of the documentation seems to imply debit: > When an issued card is used to make a purchase, an authorization request is created. If approved, the authorized amount is held in reserve from your account balance. [...] The merchant then captures (clears) the authorization, at which point a transaction is created and the held funds a…
This implies debit as the underlying mechanism for completing the transaction, however one could presumably build a credit-based business using these cards. If XYZ company issues a Stripe card under a credit model, then XYZ company would be footing the bill using their Stripe balance, and the cardholder would then have a credit balance with XYZ company.
Re: Stripe Issuing – An API for creating physical and virtual cards
#137Earlier quoted context omitted.
As a credit card customer it would be nice to be able to generate one or more temporary cards (physical or not), which are authorized for one transaction only, but are otherwise identical to my main card. That way I can use it with a merchant I simply don’t trust to have their act together, then safely toss it in the trash.
I've been using products that facilitated this for the past 10 years and one has yet to stick. Paypal had a firefox extension that did this about 10 years ago. https://getfinal.com/ was fantastic and I used it for about 2 years. I was one of the first 700 applicants. It worked exactly as you described and you could even set dollar limits for monthly recurring charges. They folded earlier this year and I was sad to se…
GetFinal was acquired by Goldman Sachs which may or may not fit your definition for "folded".
Re: Stripe Issuing – An API for creating physical and virtual cards
#138Re: Stripe Issuing – An API for creating physical and virtual cards
#139Re: Stripe Issuing – An API for creating physical and virtual cards
#140Earlier quoted context omitted.
As a credit card customer it would be nice to be able to generate one or more temporary cards (physical or not), which are authorized for one transaction only, but are otherwise identical to my main card. That way I can use it with a merchant I simply don’t trust to have their act together, then safely toss it in the trash.
Citibank already offers this feature on their credit cards, I believe: https://www.cardbenefits.citi.com/Products/Virtual-Account-N...
I used to use this pretty thoroughly but a few issues have caused me to stop altogether now:
* Flash app means that in newer versions of Android (edit: 6+ IME), even with an old Adobe Flash for Android apk loaded and with Firefox, the functionality no longer works in mobile (input functionality is broken.)
* Cards used for time-limited recurring expenses (subscriptions that I intend to end in 1 year, for example) would arbitrarily fail transactions resulting in hassle. Since each number was locked to the processor who requested the first transaction, I suppose one reason this happened was if a business switched processors mid-stream.
I have always wondered why no one has created a nice mobile solution for this very useful feature. It seems that credit cards want each customer to just use one number and trust that their risk department will stop data leaks - seems like a bad solution.