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Send payouts with Stripe

stripe.com

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Re: Send payouts with Stripe

#111

Post by johncoogan »

zende wrote: post #101
spoiledtechie wrote: post #75

Earlier quoted context omitted.

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

I'm sorry if we gave you that impression. All three founders have engineering degrees. I built the original version of the product, was the second engineer at Milo.com, and wrote DDoS prevention software in college. Mahmoud built high-frequency trading systems for Wachovia Securities and built Milo.com's matching and categorization system. Jareau studied Electrical Engineering at U Penn, built GPS enabled devices in…

I fail to see how this addresses the idea that Balanced was "promoting their brand." Was anyone questioning the engineering talent at either company?

Stripe wrote this blog post to promote their brand, Balanced let potential customers know that they have similar functionality. Both companies, in my opinion, offer extremely high-quality services (I have used both in production) and have great engineering talent. I do not think we should knock either company for "promoting their brand", it's important that potential customers (read: HN users) are able to make informed decisions. I think zende, pc, and the original blog post all do a good job of articulating the features available through their respective APIs.

Re: Send payouts with Stripe

#112

Post by meritt »

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!

You're posting on HN though. You cannot have a payment solutions post on HN without Balanced showing up and waving their arms all over the damn place. I understand this is a YC site but it's really annoying and distracting.

Re: Send payouts with Stripe

#114

Post by randall »

ajsharp wrote: post #83
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?

FWIW, Balanced has this functionality: https://www.balancedpayments.com/docs/api?language=bash#crea...

Network effects. :) I'm not going to swap stripe for balanced at this point, but would happily offer customers the ability to pay with a bank account if they prefer.

Re: Send payouts with Stripe

#115

Post by ajsharp »

thinkcomp wrote: post #97
ajsharp wrote: post #74

Earlier quoted context omitted.

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.

Of course it's possible. Stripe could give its processor the routing and account number of its customer to deposit the funds in in place of its own routing and account number. This is why the Department of the Treasury distinguishes between payment processing companies and money transmitters. By the way, I still run a payments company, and you should not assume that you know what I know (or don't).

My fault, I stand corrected.

Re: Send payouts with Stripe

#116

Post by tnorthcutt »

zende wrote: post #101
spoiledtechie wrote: post #75

Earlier quoted context omitted.

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

I'm sorry if we gave you that impression. All three founders have engineering degrees. I built the original version of the product, was the second engineer at Milo.com, and wrote DDoS prevention software in college. Mahmoud built high-frequency trading systems for Wachovia Securities and built Milo.com's matching and categorization system. Jareau studied Electrical Engineering at U Penn, built GPS enabled devices in…

You just did it again!

spoiledtechie opinted out that a Stripe employee wished you well, while you only promoted your own brand, and your response was to prattle on about how qualified the founders are and basically list your resumes. Oh, and your lawyer codes too! What fun!

Re: Send payouts with Stripe

#117

Post by danmaz74 »

zende wrote: post #101
spoiledtechie wrote: post #75

Earlier quoted context omitted.

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

I'm sorry if we gave you that impression. All three founders have engineering degrees. I built the original version of the product, was the second engineer at Milo.com, and wrote DDoS prevention software in college. Mahmoud built high-frequency trading systems for Wachovia Securities and built Milo.com's matching and categorization system. Jareau studied Electrical Engineering at U Penn, built GPS enabled devices in…

I guess this answered to the wrong comment. The comment that zende wanted to answer to was this one: https://news.ycombinator.com/item?id=5827717

Re: Send payouts with Stripe

#118

Post by drx »

jeffasinger wrote: post #102
drx wrote: post #93

Earlier quoted context omitted.

Being able to receive international bank transfers on Stripe would be amazing. Our bank charges us $15 per received wire.

I doubt Stripe could do that for much cheaper unfortunately, without basically becoming a bank, and keeping money in multiple countries.

You don't have to keep money in multiple countries, just be able to receive SWIFT and/or IBAN transfers.

Many banks in European countries don't charge anything for receiving any wires, including SWIFT, only sending them.

(the $15 fee is just for receiving any wire transfer, and is independent of the standard SWIFT fees)

Re: Send payouts with Stripe

#119

Post by simonk »

meritt wrote: post #112
pc wrote: post #45

Earlier quoted context omitted.

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!

You're posting on HN though. You cannot have a payment solutions post on HN without Balanced showing up and waving their arms all over the damn place. I understand this is a YC site but it's really annoying and distracting.

Stripe is YC too.

Re: Send payouts with Stripe

#120

Post by run4yourlives »

lacero wrote: post #59
run4yourlives wrote: post #13

Please bring this to Canadian Bank accounts. Please, please please. :-)

Interac.ca email money transfer

If your financial institution does not yet offer the service, or if you don't bank online... You will be required to register and provide your banking information in order for the money to be deposited into your bank account. The deposit usually takes 4 - 6 business days to process and a $4.00 fee will be deducted from the deposit amount.

Not really compatible.

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