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Stripe Connect v2

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Re: Stripe Connect v2

#61

Post by tbrooks »

pc wrote: post #54
tbrooks wrote: post #50

Earlier quoted context omitted.

Seems like it would require the same amount of work to pay out $10,000 vs. $100,000. Why scale the fee? Does this apply to marketplaces/accounts migrating from Balanced? There was an assurance that Stripe would honor Balanced's pricing. https://www.balancedpayments.com/stripe/faq#will-our-pricing... If you require marketplaces to use managed accounts then it's an extra tax, no?

> Seems like it would require the same amount of work to pay out $10,000 vs. $100,000. We want our pricing to align with the best product experience, and a flat fee would encourage marketplaces to pay out less frequently. This pricing makes it easy to do daily transfers. In addition, there are actually reporting obligations and such that kick in at higher volumes, so it's not completely scale-independent. > Does this…

> We want our pricing to align with the best product experience, and a flat fee would encourage marketplaces to pay out less frequently.

I don't understand how increasing pricing from a flat fee to a percentage encourages marketplaces to pay out less frequently. The cost is so nominal that it far outweighs any percentage fee.

> We don't require that they use managed accounts. Over time, I think standalone accounts will become the better option

Better for whom? [edit] My customers are not tech savvy and only want to deal with one fintech vendor, exposing Stripe to my customers seems like it's Stripe's best interest.

Re: Stripe Connect v2

#62

Post by bkrausz »

Mizza wrote: post #56

What does this mean for those of us who already use Stripe Connect? Do we get support for more countries automatically - do we have to change our code - will the v1 API stop working soon? Please send out an announcement current to Stripe Connect API users with upgrade information! The new site is very pretty, but also very sluggish in Firefox.

Existing Connect integrations will still work: no changes are necessary. Connect has always allowed you to connect directly to accounts in other countries, so no major changes there either.

We're getting some emails out now with more specific "what can I do not"-style information.

Re: Stripe Connect v2

#63

Post by matthooks »

collision wrote: post #41
colinsidoti wrote: post #40

Earlier quoted context omitted.

Is this a change in price for $0.25 per transfer, to 0.5% per transfer? I guess there's additional value-add from tax management.

Yeah, the $0.25 transfer fee is going away. We didn't want to penalize platforms for transferring earnings to their sellers more frequently.

I'd love to use managed accounts to white label my onboarding, but I don't think my users will be able to absorb the 0.5% and our margins are far too low to do it for them. I don't really need control over the transfer schedule, is there any way to get the white label benefits without the cost? Or is standalone my only option for now?

Re: Stripe Connect v2

#64

Post by toufka »

colinsidoti wrote: post #59
bkrausz wrote: post #52

Earlier quoted context omitted.

Do you mean a situation where the service provider is not directly providing the service to the customer, like paying out a caterer for your office lunch? I'd love to better understand exactly what you're trying to use this for. The short answer is that we're also really excited about the "many-to-many" use case of moving money around. There are many hurdles to getting there, and we're checking them off one by one. T…

"like paying out a caterer for your office lunch" Pretty much. But it's a little hard to envision at that scale. Think instead about a large company with a set of approved vendors. Execs submit purchase orders to the vendors. The vendors get paid out by check. Instead, you can payout the vendors through Stripe. Edit: As I think about this more, I don't think it should be free from my own account, but it's hard to rea…

Exactly.

It'd be great to be able to do with Stripe what we can do with POs. Here are Three POs for three vendors associated with this purchase (80%, 10% & 10% respectively).

And then directly push the funds to each with separate transactions, without having to have a 'master account' that pulls in 100% (and takes the full fee structure on the nose), then internally/itself pushes out 80% and 10% to others.

Re: Stripe Connect v2

#65

Post by [deleted] »

tbrooks wrote: post #61
pc wrote: post #54

Earlier quoted context omitted.

> Seems like it would require the same amount of work to pay out $10,000 vs. $100,000. We want our pricing to align with the best product experience, and a flat fee would encourage marketplaces to pay out less frequently. This pricing makes it easy to do daily transfers. In addition, there are actually reporting obligations and such that kick in at higher volumes, so it's not completely scale-independent. > Does this…

> We want our pricing to align with the best product experience, and a flat fee would encourage marketplaces to pay out less frequently. I don't understand how increasing pricing from a flat fee to a percentage encourages marketplaces to pay out less frequently. The cost is so nominal that it far outweighs any percentage fee. > We don't require that they use managed accounts. Over time, I think standalone accounts wi…

[deleted]

Re: Stripe Connect v2

#66

Post by bkrausz »

tbrooks wrote: post #61
pc wrote: post #54

Earlier quoted context omitted.

> Seems like it would require the same amount of work to pay out $10,000 vs. $100,000. We want our pricing to align with the best product experience, and a flat fee would encourage marketplaces to pay out less frequently. This pricing makes it easy to do daily transfers. In addition, there are actually reporting obligations and such that kick in at higher volumes, so it's not completely scale-independent. > Does this…

> We want our pricing to align with the best product experience, and a flat fee would encourage marketplaces to pay out less frequently. I don't understand how increasing pricing from a flat fee to a percentage encourages marketplaces to pay out less frequently. The cost is so nominal that it far outweighs any percentage fee. > We don't require that they use managed accounts. Over time, I think standalone accounts wi…

> I don't understand how increasing pricing from a flat fee to a percentage encourages marketplaces to pay out less frequently. The cost is so nominal that it far outweighs any percentage fee.

Our goal, as Patrick said, is to allow people to pay out more frequently. A flat fee ties your costs to number of transfers, which seems unnecessary in a lot of cases. If a seller just earned $10, they should get their $10 (at a cost of a nickel).

> Better for whom?

For customers and platforms. If we do our job right, standalone accounts should be so easy to use and user-friendly, even for non-tech-savvy customers, that it's clearly the better option for everyone.

That being said, it's not like we'll kill off managed accounts: there'll always be a good reason to have a fully customized experience. Making standalone accounts good enough to be the better option more often is a goal we strive for, but that's for our customers to decide.

Re: Stripe Connect v2

#68

Post by bkrausz »

platz wrote: post #49
solutionyogi wrote: post #14

Earlier quoted context omitted.

+100. It looks modern yet very readable thanks to great typography. Loads fast. Fully usable on mobile as well. E.g. Gets a hamburger menu on Mobile. The featured client animation is simpler. The spinning globe icon is replaced by a static image. They have absolutely top notch front end engineering talent. This is in huge contrast to the current trend where they want to hijack browser's scrolling behavior for absolut…

Some tradeoffs though; this is what it looks like on IE9 http://i.imgur.com/EkH81zN.png

It's working properly in our IE9 VM. Are you getting JS errors? Any other debugging info would be great.

Re: Stripe Connect v2

#69

Post by threefour »

solutionyogi wrote: post #14
khoury wrote: post #2

I mean god damn stripe has some great front-end engineers.

+100. It looks modern yet very readable thanks to great typography. Loads fast. Fully usable on mobile as well. E.g. Gets a hamburger menu on Mobile. The featured client animation is simpler. The spinning globe icon is replaced by a static image. They have absolutely top notch front end engineering talent. This is in huge contrast to the current trend where they want to hijack browser's scrolling behavior for absolut…

typography...usability...graphics... They do have great design talent :-)
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