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Stripe Treasury

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Re: Stripe Treasury

#141

Post by jermaustin1 »

patio11 wrote: post #117
an_opabinia wrote: post #103

Earlier quoted context omitted.

If my rideshare platform also lends or leases vehicles to its drivers, would Stripe Treasury permit the drivers to repay the loan or lease via the driver's treasury account where they get paid? Does regular Stripe support paying back loans or leases? When I say permit, I mean from an acceptable use point of view, not an engineering point of view.

I know of no reason we'd not support the first, though feel free to run that by us formally if you want explicit permission in writing (which presumably a rideshare platform large enough to have a leasing operation would). We don't support using Payments to collect loan repayments in most cases.

> in most cases.

Are their cases where you do support using Payments for loan repayment?

I've had an idea for an "informal loan" platform that facilitates loans between friends, but paid back automatically, but I haven't ever acted on it because of the ban on using Stripe for loan repayments.

Synapse offers something like this, but is geared more toward loan origination than to strictly facilitation.

Re: Stripe Treasury

#142

Post by ryanSrich »

mritchie712 wrote: post #70
jakozaur wrote: post #36

I'm continue to be amazed by Stripe innovations. Financials companies used to stagnate (e.g. PayPal) while Stripe keeps reinventing itself... Stripe Capital, Stripe Checkout, Stripe Treasury...

Atlas is pretty awesome too. Build a C Corp in a few minutes.

Atlas was priced right, but we had a negative experience with it. Document templates were wrong, spouses never got emails for signature, workflow steps were out of order, tax id issuance took very long, and on top of that they are extremely oversubscribed, so hearing back from their support team took a while. Atlas has a lot of potential, but needs a lot of work.

Re: Stripe Treasury

#143

Post by nickelcitymario »

I see a lot of comments about the applications for startups, which is only logical. (This is HN after all.) But I think this could be even more transformative in vehicle sales.

Example: I work for a boat manufacturer. We've wanted to sell boats online for many years, but it's not the kind of product you charge to a credit card. (Most of our boats are in the $30k-80k range.)

So one of the biggest challenges to selling online is the financing. A service like this, once it opens up outside the US and for B2C, could solve that problem.

I could see this having a transformative (disruptive?) effect on boats, RVs, cars, trucks, ATVs, etc. Basically any big-ticket item that doesn't require getting a lawyer involved.

Re: Stripe Treasury

#144

Post by liujy »

jskajakzkjx wrote: post #138
JxLS-cpgbe0 wrote: post #133

Earlier quoted context omitted.

> Goldman Sachs is one of our financial partners for Stripe Treasury Does Goldman Sachs' misreporting of millions of transactions to the FCA align with Stripe's business ethics policy?

Is that something that happened in the past or some plans Goldman has announced for the future?

I believe the above user is referring to the 1MDB scandal which took place earlier this year.

Re: Stripe Treasury

#145

Post by carabiner »

rattray wrote: post #127

Bit of an aside, but as a new entrepreneur selling physical products ( https://narwallmask.com ) I've been surprised by how much time I spend banking. Moving money around is way more of a headache than I would have anticipated. And that's before you even get into questions of working capital etc. As a former eng at Stripe who didn't know this product was coming, I'm very excited to see what gets built on top of it, a…

Did you design the mask from scratch, or is this a rebrand of an existing product?

Re: Stripe Treasury

#146

Post by JxLS-cpgbe0 »

jskajakzkjx wrote: post #138
JxLS-cpgbe0 wrote: post #133

Earlier quoted context omitted.

> Goldman Sachs is one of our financial partners for Stripe Treasury Does Goldman Sachs' misreporting of millions of transactions to the FCA align with Stripe's business ethics policy?

Is that something that happened in the past or some plans Goldman has announced for the future?

The past: https://www.theguardian.com/business/2019/mar/28/city-watchd...

Re: Stripe Treasury

#147

Post by hammock »

joshuakelly wrote: post #43

There's a reason "marketplaces" get a call out on this landing page. Every single startup that has to manage buyers and sellers ends up needing to implement their own bespoke "treasury" operations. There are other players in this space (Modern Treasury for example), but obviously the distinct Stripe advantage is integrating with the payment stack. This would have saved years of development efforts and maintenance on…

So now anyone can create their own Venmo app, and just use Stripe Treasury on the backend? What's the idea behind this?

Re: Stripe Treasury

#148

Post by tarstarr »

eloff wrote: post #61
tarstarr wrote: post #5

Hi everyone, I’m Tara, PM on Stripe Treasury. Treasury is a banking-as-a-service API for platforms—built in partnership with the world’s leading banks. Embed interest-earning accounts, bill pay, ACH and wire transfers, and faster access to revenue directly in your platform. Happy to answer any questions here—and I’d love to hear your feedback!

This seems targeted mostly for marketplaces, but I'm curious if this enables a way to accept ACH and wire transfer payments. My thinking is use the API to let the end customer setup a treasury account on my site, they can wire/ACH funds to this account of theirs to pay invoices, and I can use the API to "debit" funds from their treasury account to mine as needed to cover their service bills. Handling invoicing and pa…

Stripe Invoicing is purpose built for exactly that problem: serving enterprise customers who don't want to use a card for payment. While I think Treasury or Treasury+Connect could help in a pinch, Invoicing is likely the best solution with the smallest implementation lift.

Re: Stripe Treasury

#149

Post by dave_4_bagels »

Correct me if I'm wrong, but this appears to be Stripe trying to take make inroads with Plaid's existing services?

Is it just me, or is this expansion of Stripe's functionality a bit concerning? It goes without saying, that now Stripe will be able to clamp down and censor banking AND payment activity they deem inappropriate or allowed by their banking partners?

Re: Stripe Treasury

#150

Post by swalsh »

hammock wrote: post #147
joshuakelly wrote: post #43

There's a reason "marketplaces" get a call out on this landing page. Every single startup that has to manage buyers and sellers ends up needing to implement their own bespoke "treasury" operations. There are other players in this space (Modern Treasury for example), but obviously the distinct Stripe advantage is integrating with the payment stack. This would have saved years of development efforts and maintenance on…

So now anyone can create their own Venmo app, and just use Stripe Treasury on the backend? What's the idea behind this?

I don't think so, this is not really meant for consumer oriented applications. Completely different regulatory animal.
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