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Send payouts with Stripe

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Re: Send payouts with Stripe

#131

Post by toomuchtodo »

ceejayoz wrote: post #104
thinkcomp wrote: post #98

Earlier quoted context omitted.

I'd say it's more like asking a fellow air passenger, in earshot of others, whether that thing they just put to their lips is a candy cigarette or a real one. Payments systems are complex and the regulations are complex. I don't think it's rude to ask questions about complex topics, and here I honestly do not know what Stripe is doing. As both a Stripe customer and competitor I have the right to ask.

I think it's the "if I answer this guy's questions he'll likely pop me in as a defendant in a crank lawsuit" that turns folks off. http://dockets.justia.com/docket/california/candce/5:2013cv0...

Disagree with the crank lawsuit part.

Yes, the law is being metered out in a discriminatory fashion. No, this is the not the way to go about fixing it.

Re: Send payouts with Stripe

#132

Post by trollmachine »

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…

Hey Zende,

Cool! You work at Balanced. You should really be proud of your UI that you copied from Stripe but made it uglier. You should also be proud of the Fanwood Font you use in the front page. I'm hoping you can raise some funds and hire a real designer because your inconsistent use of font sizes/type on the front page makes your product look unpolished and unprofessional. Next time, try to innovate rather than copy like Zynga.

Best, TrollMachine

Re: Send payouts with Stripe

#133

Post by aioprisan »

randall wrote: post #114
ajsharp wrote: post #83

Earlier quoted context omitted.

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.

as a customer, why would I ever sign up for bank account payments vs card? with credit cards, one call to amex and a $5k charge gets instantly removed and I get the credit line adjustment, but with a checking account, this can take much longer and stuck cash-less for a while

Re: Send payouts with Stripe

#135

Post by jervisfm »

zende wrote: post #103
veritas20 wrote: post #87

Earlier quoted context omitted.

whoa...1% + $.30 for bank payments??? why would you need a percentage on an ACH transfer when most others charge a flat rate?

We're still trying to figure out the right pricing and are discussing it openly ( https://github.com/balanced/balanced-api/issues/2#issuecomme... ). The risk scales with the size of the transaction. Granted, the risk does not scale at the same rate as the transaction size, but we wanted to keep it simple in the beginning. What do you think about 1% + 30¢ with a cap?

What's the risk factor with large transactions ? Is it that they can be reversed or challenged ? I am not too familiar with the ACH system, but isn't it the case that once a transaction clears and a transfer completes, then that's it - there is no reversal process.

The money is a bank account is real money after all, and once it's spent, it's gone for good. This is one reason I (and I suspect a few others) feel very uneasy connecting bank account(s) with a third party web service.

Re: Send payouts with Stripe

#136

Post by dblock »

It's ridiculously hard to launch a new marketplace. I think it's awesome that we have more API choices.

My next big problem is taxes. I wish one of these two could make it a no-brainer for the same market-place scenario (eg. selling a work from a South African gallery to a customer in France via a U.S. based marketplace).

As a footnote, I am a very happy Balanced customer @ http://artsy.net.

Re: Send payouts with Stripe

#137

Post by zende »

jervisfm wrote: post #135
zende wrote: post #103

Earlier quoted context omitted.

We're still trying to figure out the right pricing and are discussing it openly ( https://github.com/balanced/balanced-api/issues/2#issuecomme... ). The risk scales with the size of the transaction. Granted, the risk does not scale at the same rate as the transaction size, but we wanted to keep it simple in the beginning. What do you think about 1% + 30¢ with a cap?

What's the risk factor with large transactions ? Is it that they can be reversed or challenged ? I am not too familiar with the ACH system, but isn't it the case that once a transaction clears and a transfer completes, then that's it - there is no reversal process. The money is a bank account is real money after all, and once it's spent, it's gone for good. This is one reason I (and I suspect a few others) feel very…

ACH has a dispute system like credits cards. Credit cards have a dispute window of 120 days. Personal bank accounts have a dispute window of 60 days. Business bank accounts have a dispute window of 3 business days.

The problem with disputes on ACH debits is that the process is not formalized through a standard network like Visa or MasterCard. It's a mess operationally, and there's a near zero chance of winning the dispute. This becomes even worse because of the size of ACH transactions.

We've reduced the risk by requiring trial deposits on any bank account that you want to debit, which is also a problem for a lot of our customers.

Re: Send payouts with Stripe

#138

Post by nhangen »

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…

How does this comment not get flagged for removal? Might as well talk about how your best friend gets paid 5k/month working from home for only a few hours/week.

Re: Send payouts with Stripe

#139

Post by randall »

aioprisan wrote: post #133
randall wrote: post #114

Earlier quoted context omitted.

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.

as a customer, why would I ever sign up for bank account payments vs card? with credit cards, one call to amex and a $5k charge gets instantly removed and I get the credit line adjustment, but with a checking account, this can take much longer and stuck cash-less for a while

We have customers who prefer paper invoicing. We're more B2B-ey. We could do their net30 payment terms all electronically, which would be a big plus for them.

Re: Send payouts with Stripe

#140

Post by jervisfm »

zende wrote: post #137
jervisfm wrote: post #135

Earlier quoted context omitted.

What's the risk factor with large transactions ? Is it that they can be reversed or challenged ? I am not too familiar with the ACH system, but isn't it the case that once a transaction clears and a transfer completes, then that's it - there is no reversal process. The money is a bank account is real money after all, and once it's spent, it's gone for good. This is one reason I (and I suspect a few others) feel very…

ACH has a dispute system like credits cards. Credit cards have a dispute window of 120 days. Personal bank accounts have a dispute window of 60 days. Business bank accounts have a dispute window of 3 business days. The problem with disputes on ACH debits is that the process is not formalized through a standard network like Visa or MasterCard. It's a mess operationally, and there's a near zero chance of winning the di…

> It's a mess operationally, and there's a near zero chance of winning the dispute

To be clear, does this refers to the business accounts / users ? The consumers with personal accounts who dispute the charges have their way and the charging entity is left to deal with the results?

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