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Working with the Stripe Payouts API

blog.chriswinn.com

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Re: Working with the Stripe Payouts API

#11

Post by brackishlake »

pc wrote: post #9
icelancer wrote: post #8

Earlier quoted context omitted.

I've said this before, but each payment provider out there has benefits the others don't, which is a little annoying. For example, Balanced is inferior in almost all regards to Stripe except in one major area: Payment speed. Stripe offers 7-day rolling payouts (shorter for larger merchants), but Balanced offers next day payments and same day for Wells Fargo customers! Square offers same-day payouts and the best in-pe…

> For example, Balanced is inferior in almost all regards to Stripe except in one major area: Payment speed. We'll fix this.

This is something we experienced on The Wedding Favor. It was a trade-off we were aware of. On the other hand, it did trouble me that we were able to transfer money same-day to Chase bankholders with Balanced. It sounds great, but somewhere along the line that means that Balanced was "floating" our credit card charge and fronting the money to pay out to the end-recipient. While I appreciate this, and we benefit from very low chargeback rates (our users are friends and family), this seemed like a "too good to be true" risk.

In Stripe's case, you can make the business choice in your logic to pay out quicker to your end user, so long as you understand the risks (which you assume) and keep a comfortable account balance to cover it. Payouts to you, the Stripe account holder, is another matter!

Re: Working with the Stripe Payouts API

#12

Post by zrail »

I love how simple Stripe's APIs are. This is a great overview of Payouts, thanks for posting.

I'm working on a guide to integrating Stripe with Rails and I'll be covering Payouts and Stripe Connect in a whole section about building marketplaces.

http://www.petekeen.com/mastering-modern-payments

Re: Working with the Stripe Payouts API

#13

Post by bifrost »

I love Stripe, they're so easy and so fast and SO PAINLESS. I've had to deal with "legacy" solutions and I basically hate them all. Stripe saved me significant implimentation time, so they are currently the ones to beat IMHO.

Frankly they are what makes the easy user experience possible @ CryptoSeal (http://privacy.cryptoseal.com).

Re: Working with the Stripe Payouts API

#14

Post by sjtgraham »

icelancer wrote: post #8
tomschlick wrote: post #3

> Their core product, enabling developers to charge credit cards, wasn’t the first to the market. It is, instead, the best. This is what I love about stripe. It may seem to an outsider like HN is full of Stripe fanboys but to someone who has worked with 10-20 other payment gateways its a godsend. Documentation that is simple, a reliable api, webhooks that work and a fantastic team behind it make stripe so much better…

I've said this before, but each payment provider out there has benefits the others don't, which is a little annoying. For example, Balanced is inferior in almost all regards to Stripe except in one major area: Payment speed. Stripe offers 7-day rolling payouts (shorter for larger merchants), but Balanced offers next day payments and same day for Wells Fargo customers! Square offers same-day payouts and the best in-pe…

How is Balanced inferior, exactly? I would call neither party inferior, but as far as I can see Balanced has the better product. Two things Balanced has that Stripe does not: ACH debit and credit, and programmatic merchant underwriting. Massive features IMO.

Re: Working with the Stripe Payouts API

#15

Post by icelancer »

icelancer wrote: post #8
tomschlick wrote: post #3

> Their core product, enabling developers to charge credit cards, wasn’t the first to the market. It is, instead, the best. This is what I love about stripe. It may seem to an outsider like HN is full of Stripe fanboys but to someone who has worked with 10-20 other payment gateways its a godsend. Documentation that is simple, a reliable api, webhooks that work and a fantastic team behind it make stripe so much better…

I've said this before, but each payment provider out there has benefits the others don't, which is a little annoying. For example, Balanced is inferior in almost all regards to Stripe except in one major area: Payment speed. Stripe offers 7-day rolling payouts (shorter for larger merchants), but Balanced offers next day payments and same day for Wells Fargo customers! Square offers same-day payouts and the best in-pe…

brackishlake, your comment is dead and you are probably hellbanned (no one can see your posts outside of a few who turn them on).

You have some really good comments here, so maybe re-register and post them again. You were likely banned for submitting/spamming your chriswinn.com posts.

Re: Working with the Stripe Payouts API

#16

Post by icelancer »

sjtgraham wrote: post #14
icelancer wrote: post #8

Earlier quoted context omitted.

I've said this before, but each payment provider out there has benefits the others don't, which is a little annoying. For example, Balanced is inferior in almost all regards to Stripe except in one major area: Payment speed. Stripe offers 7-day rolling payouts (shorter for larger merchants), but Balanced offers next day payments and same day for Wells Fargo customers! Square offers same-day payouts and the best in-pe…

How is Balanced inferior, exactly? I would call neither party inferior, but as far as I can see Balanced has the better product. Two things Balanced has that Stripe does not: ACH debit and credit, and programmatic merchant underwriting. Massive features IMO.

Third party plugins is not even close. Shopping carts overwhelmingly support Stripe and not Balanced.

EDIT: Not sure who downvoted you; it was a fair question. I countered it with an upvote.

Re: Working with the Stripe Payouts API

#17

Post by 2pasc »

pc wrote: post #9
icelancer wrote: post #8

Earlier quoted context omitted.

I've said this before, but each payment provider out there has benefits the others don't, which is a little annoying. For example, Balanced is inferior in almost all regards to Stripe except in one major area: Payment speed. Stripe offers 7-day rolling payouts (shorter for larger merchants), but Balanced offers next day payments and same day for Wells Fargo customers! Square offers same-day payouts and the best in-pe…

> For example, Balanced is inferior in almost all regards to Stripe except in one major area: Payment speed. We'll fix this.

That's great as this is one of the main reason we are using Balanced today for our soon to-be-launched marketplace.

Re: Working with the Stripe Payouts API

#20

Post by sjtgraham »

icelancer wrote: post #16
sjtgraham wrote: post #14

Earlier quoted context omitted.

How is Balanced inferior, exactly? I would call neither party inferior, but as far as I can see Balanced has the better product. Two things Balanced has that Stripe does not: ACH debit and credit, and programmatic merchant underwriting. Massive features IMO.

Third party plugins is not even close. Shopping carts overwhelmingly support Stripe and not Balanced. EDIT: Not sure who downvoted you; it was a fair question. I countered it with an upvote.

Thanks. Shopping cart integration is first mover advantage. Stripe was the first to market with a product that dissolved two huge problems with accepting payments online: merchant underwriting and PCI-DSS compliance. Because of this it's unsurprising that i.) shopping carts rushed to integrate with them, and ii.) there is as much community good will toward Stripe as there is.

You could reach out to Balanced about API wrappers libs, I'm sure they would love someone to write language idiomatic libraries for them. It might be a nice contract gig.

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