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Balanced Payments (YC W11) Raises $1.4M To Provide A Platform For P2P Markets

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Re: Balanced Payments (YC W11) Raises $1.4M To Provide A Platform For P2P Markets

#11

Post by dikbrouwer »

mahmoudimus wrote: post #6
dikbrouwer wrote: post #4

Earlier quoted context omitted.

Great! Love the product btw, I really think it solves a clear pain point. One feature request: give the option to send checks (through the API preferably) vs. an ACH. An ACH is not always feasible.

Thanks! We've definitely explored this option. Part of being an open company is that we publicly discuss our roadmap, I'd love it if you just +1'ed via our github tracker so you can get updated about our progress in that direction. If we have enough interest on this feature, we'll reopen the issue and track its progress publicly: https://github.com/balanced/balanced-api/issues/69

Done!

Re: Balanced Payments (YC W11) Raises $1.4M To Provide A Platform For P2P Markets

#17

Post by jamoes »

What's your bitcoin strategy?

It seems like bitcoin could really complement this type of business: The escrow service would be very useful to people wishing to pay in bitcoin. And at the same time, Balanced could benefit from the significantly lower fees and zero risk of fraud that bitcoin payments offer.

Re: Balanced Payments (YC W11) Raises $1.4M To Provide A Platform For P2P Markets

#18

Post by wtvanhest »

mahmoudimus wrote: post #6
dikbrouwer wrote: post #4

Earlier quoted context omitted.

Great! Love the product btw, I really think it solves a clear pain point. One feature request: give the option to send checks (through the API preferably) vs. an ACH. An ACH is not always feasible.

Thanks! We've definitely explored this option. Part of being an open company is that we publicly discuss our roadmap, I'd love it if you just +1'ed via our github tracker so you can get updated about our progress in that direction. If we have enough interest on this feature, we'll reopen the issue and track its progress publicly: https://github.com/balanced/balanced-api/issues/69

I just tried clicking the blog link from the bottom of this page https://www.balancedpayments.com/community and got this error:

SSL Error

This is probably not the site you are looking for! You attempted to reach blog.balancedpayments.com, but instead you actually reached a server identifying itself as secure.static.tumblr.com. This may be caused by a misconfiguration on the server or by something more serious. An attacker on your network could be trying to get you to visit a fake (and potentially harmful) version of blog.balancedpayments.com. You should not proceed, especially if you have never seen this warning before for this site.

Re: Balanced Payments (YC W11) Raises $1.4M To Provide A Platform For P2P Markets

#19

Post by zende »

whit537 wrote: post #16

Afaict, the really new thing Balanced is doing that I haven't seen anywhere else is programmatically authorizing merchant accounts. Is anyone else doing that?

> Afaict, the really new thing Balanced is doing that I haven't seen anywhere else is programmatically authorizing merchant accounts.

There's three main things marketplaces have expressed that they like about Balanced: 1. Compliance. This includes PCI and the ability to underwrite merchants through the API 2. Payouts. Depositing money in a merchant's bank account the next business day and having full control over when you issue the deposit. With this launch, we made it easier for marketplaces to use us just for payouts—something we saw existing customers doing 3. Taxes. We handle the tax reporting for the merchants

There's no one else that provides any of the three above.

Re: Balanced Payments (YC W11) Raises $1.4M To Provide A Platform For P2P Markets

#20

Post by zende »

jamoes wrote: post #17

What's your bitcoin strategy? It seems like bitcoin could really complement this type of business: The escrow service would be very useful to people wishing to pay in bitcoin. And at the same time, Balanced could benefit from the significantly lower fees and zero risk of fraud that bitcoin payments offer.

We haven't seen much demand for supporting bitcoin. If you would like us to support bitcoin, could you create a GitHub issue, so we can track interest?

https://github.com/balanced/balanced-api/issues

We use GitHub to track feature requests like international support: https://github.com/balanced/balanced-api/issues/23

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