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Send payouts with Stripe

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Re: Send payouts with Stripe

#71

Post by ajsharp »

seiji wrote: post #55
yesimahuman wrote: post #48

Earlier quoted context omitted.

Interesting to see Balanced and Stripe competing. Is this going to be a growing trend in YC? I'm sure it's a hard problem to avoid.

Balanced has always inhabited a nebulous void of blatant-copying-with-one-novel-new-feature territory for me. It's clear they just copied (with permission? consent?) the public interface of Stripe. They tried to copy the documentation format (layout, style, presentation) too, but it came off kinda poorly (margins, people. margins). They have public test cards/accounts, but they fail to test correctly because they get…

I've been working with Balanced's API since they were Poundpay. I think most of your comments about copying are very misguided. The style of their documentation format is completely irrelevant to the quality of the product (and wrong IMO), which in my > two years of experience, has been superb. Your comments about test cards are just wholly incorrect, and the style of their website and how they present their products is as homogeneous as anyone else offerring a developer product.

Re: UUID's, Jeff Atwood has a good post explaining their pros and cons: http://www.codinghorror.com/blog/2007/03/primary-keys-ids-ve....

> From my complete outsider point of view it feels like Balanced is full of slightly subpar copy ninjas.

I couldn't disagree more. Over the past couple of years, I've come to trust and admire the product as much as any other, including Stripe. These guys know what they're doing.

Re: Send payouts with Stripe

#72

Post by JshWright »

swanify wrote: post #50
zende wrote: post #40

Earlier quoted context omitted.

The Balanced Payouts service has been available for some time. Our ACH Debit (pay with bank account) is in Beta however.

Taking over this thread talking about your service is pretty awful - surely you can announce your features in your own right rather than riding on the back of Stripe's name?

It looks like he was just adding some clarity to a discussion a few users were having. He didn't post any links, or 'announce' anything.

Re: Send payouts with Stripe

#73

Post by silverbax88 »

amfeng wrote: post #69
silverbax88 wrote: post #68

I just used Stripe for one of my major annual events. I used PayPal the first two years, and all I can say is Stripe is far superior to PayPal. I do wish the dashboard was a little more configurable, but that's minor. Everything else is so much better. Pros: + auto deposit into the back account without having to make requests + easy refund process + easy charge identification process Cons: - a few customers like usin…

Which parts of the dashboard in particular? Would love to hear your feedback at amber@stripe.com!

I don't have much to complain about, but I will gather my thoughts and shoot them over. Really a huge fan of the product, though.

Re: Send payouts with Stripe

#74

Post by ajsharp »

thinkcomp wrote: post #19
pc wrote: post #8

Earlier quoted context omitted.

Tl;dr: we work with a bank to do this; we do lots of checks; and you're required to verify the identity of the recipients. See https://stripe.com/docs/tutorials/sending-transfers#verifyin... for more info.

Do the funds ever sit in your (Stripe's) account or is the ACH transfer direct from the card to the destination account?

Come on Aaron. As someone who formerly ran a payments company, you know that going direct from a credit card to a bank account is not possible with today's banking infrastructure. Of course the funds go to their account. You know that, but you're clearly trying to prove a point here. Please, do it somewhere else.

Re: Send payouts with Stripe

#75

Post by spoiledtechie »

pc wrote: post #45
zende wrote: post #43

(I work at Balanced) Balanced ( https://balancedpayments.com ) provides a payouts solution for marketplaces like redditgifts, Crowdtilt, Fancy, Artsy, Visual.ly, and many others. The differences with Stripe include the money being available for payout immediately (instead of 5 days), and the recipient will receive the money the next business day. Balanced has also performed a lot of work to verify merchants with as l…

Stripe actually requires substantially less information -- just the recipient's name. Still, this isn't about Stripe vs Balanced -- we just built the API many of our users wanted. Hope you guys continue to do well!

Its nice to see that Stripe wishes competitors well when all Balanced tried to do was promote their brand.

Re: Send payouts with Stripe

#76

Post by randall »

I'm most interested in the inverse... allowing customers to send us cash directly from their bank accounts for $.25 per transfer (instead of the bullshit credit card company fees). I'm sure there's some serious fraud implications that Stripe would have to deal with to ensure validity, but is that coming?

Re: Send payouts with Stripe

#78

Post by ajsharp »

bob13579 wrote: post #14
dm8 wrote: post #12

Apart from Balanced Payments and Dwolla I don't think anyone gives a simple way (means using API) to send payouts. This could be huge!

Balanced Payments only allows transfers to customers with Wells Fargo accounts, right? Does Stripe allow transfers to all banks?

You can transfer to any US bank account with Balanced. Wells Fargo accounts benefit from same day transfers, while all other accounts are next business day.

Re: Send payouts with Stripe

#79

Post by amfeng »

randall wrote: post #76

I'm most interested in the inverse... allowing customers to send us cash directly from their bank accounts for $.25 per transfer (instead of the bullshit credit card company fees). I'm sure there's some serious fraud implications that Stripe would have to deal with to ensure validity, but is that coming?

Yep -- this is something we're really interested in doing as well.

Re: Send payouts with Stripe

#80

Post by rebelidealist »

seiji wrote: post #55
yesimahuman wrote: post #48

Earlier quoted context omitted.

Interesting to see Balanced and Stripe competing. Is this going to be a growing trend in YC? I'm sure it's a hard problem to avoid.

Balanced has always inhabited a nebulous void of blatant-copying-with-one-novel-new-feature territory for me. It's clear they just copied (with permission? consent?) the public interface of Stripe. They tried to copy the documentation format (layout, style, presentation) too, but it came off kinda poorly (margins, people. margins). They have public test cards/accounts, but they fail to test correctly because they get…

Since they are in a sector that is in a dire need of change, why should one company reinvent the wheel? The goal is to push the boundary of the space instead of redoing the same thing over. Balanced did ach payouts first and then Stripe just released it. You should be glad there are two good companies competing.

Calling Balanced a group of subpar copy ninjas is very ignorant. Dealing with payments, fraud, and banks is an extremely difficult. I rather Balanced tackle new problem in the payments like ACH debits than reinventing their documentation. Plus, they are a much smaller team than Stripe.

If a sector is already a polished like project management, then you can complain about how one company is not perfect enough with its smaller features.

(I don't work for either, but I use both apis extensively)

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