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Stripe Treasury

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Re: Stripe Treasury

#181

Post by pbowyer »

radihuq wrote: post #62
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…

This has an incredible amount of potential in the events space --- I'm excited to see what new advances this tech will enable

Why?

I'm really not getting the usefulness of this offering, so can't have been exposed to or dealt with companies that have the problem it's solving.

I have worked with events companies on ticketing systems, so any example scenario you can share around events would be great to help me understand.

Re: Stripe Treasury

#182

Post by tarstarr »

runako wrote: post #131
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!

Hi Tara, congratulations on the launch! Do you intend to allow Treasury to be used to build new bank storefronts? For example, could someone build a slick mobile app and website and use Treasury to launch a B2B "bank", complete with FDIC insurance? Would it be acceptable to launch an offering like mercury.com entirely powered by Treasury? Or is the intent to only allow Treasury as an adjunct to a "real" business? Tha…

Of course, neither Stripe nor users of Stripe Treasury would be launching a bank, but you could provide financial services for other businesses, entirely powered by Stripe Treasury and Stripe Connect. It's pretty analogous to what Shopify is doing with Stripe Connect, Treasury, and Issuing to launch Shopify Balance: https://www.shopify.com/balance

Re: Stripe Treasury

#183

Post by rsync »

Perhaps it is too early to ask this question, but in case anyone here is an early user of Stripe Treasury (or there are Stripe employees here):

What is the Stripe Treasury equivalent of a Twilio Twiml Bin ?

A Twiml bin is a block of code that you can enter into your twilio account, through their management interface and then perform actions, etc., without any outside hosting of code or additional services.

It's perhaps not the most powerful mechanism but it is tremendously simple and efficient to just type the code into the user interface in your account rather than hosting code to call with webhooks, etc., etc.

Re: Stripe Treasury

#185

Post by xyst »

vincentmarle wrote: post #27

When is Stripe going to IPO so mere souls can also invest in the company, it’s been long overdue.

Good for the people that want to speculate on the stock price, but bad for the people that actually use their products.

I honestly hope they never go public, otherwise I fear they will just become another souless "salesforce"

Re: Stripe Treasury

#186

Post by toomuchtodo »

lambda_obrien wrote: post #153
closeparen wrote: post #134

Earlier quoted context omitted.

Agreed. But this is not some gig economy thing... when an institution needs to pay you and you don't have direct deposit, often they will send you a prepaid debit card instead of a check. Even the federal government does this [0]. These cards tend to have predatory fees. [0] https://www.irs.gov/newsroom/economic-impact-payments-being-...

I'm aware of that practice, and that's why I would hope that we could build something like the often talked about USPS bank, or whatever, so everyone can have equal access to real banking with no predatory practices. Not that any gig companies are doing this yet, or even thought to do it, but I just don't like the idea of this being done in a "company scrips"-like fashion, there are some things that should be totally…

> and that's why I would hope that we could build something like the often talked about USPS bank, or whatever, so everyone can have equal access to real banking with no predatory practices.

I signed up on the wait list and emailed patio11 specifically to build such a product. Regarding your point about company scrip, I think prevention against that is best served by reaching out to your Congressional representatives, as well as members of the U.S. House Committee on Financial Services, to legislate safeguards. Without the force of law, protections are only polite suggestions.

Re: Stripe Treasury

#187

Post by sebmellen »

Evolve Bank & Trust will probably be the bank most of these funds sit in [0]. With this partnership, and their Mercury Bank partnership [1], they've positioned themselves very well. For a small bank out of Memphis [2], this is quite impressive.

[0]: https://stripe.com/treasury#request-invite

[1]: https://mercury.com/

[2]: https://www.getevolved.com/contact/locations/

Re: Stripe Treasury

#188

Post by [deleted] »

jonplackett wrote: post #46

I tried out Stripe's API years and years ago and it was immediately obvious that these guys were good. I think you can tell a lot about a company by how well they do their documentation.

[deleted]

Re: Stripe Treasury

#189

Post by graeme »

pbalau wrote: post #130
smallnamespace wrote: post #108

Earlier quoted context omitted.

I read it as: > ... provide their business users with access to capabilities which are regulated _,_ with those capabilities fulfilled by entities with the appropriate licensing ... Short version: we do the hard things for you so you don't have to. Correction welcome if that comma doesn't convey the intended meaning.

The comma I got on my own, after some time. I'm still not clear on what those capabilities are .

Financial or banking capabilities, I think

Re: Stripe Treasury

#190

Post by rkagerer »

anon589 wrote: post #63
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…

Outsourcing KYC is a questionable decision though - I’m wondering how much of a black box that is or you get the same info as if you implemented it yourself. There’s always false negatives for systems like this, and if Stripe wrongly tells you someone is good then are you liable for acting on that decision?

Will Stripe indemnify you against inaccurate results?
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