The inability to transfer funds into Stripe makes it hard to use it as a payouts mechanism like you can with Balanced.
There is a way to transfer money into Stripe, however the percentage is not capped at $5 like Balanced does. Very disappointing.
Balanced payments is shutting down
131–140 of 189 posts
Re: Balanced payments is shutting down
#132I'm sorry to see Balanced go. As CTO, I used their service and was always impressed. The site and docs were clean and obvious, really helpful when dealing with scary things like money. Kudos, Balanced!
Re: Balanced payments is shutting down
#133Stripe cofounder here. I just wanted to tip our hats to the folks at Balanced. Stripe and Balanced have certainly competed against each other in the marketplace space for a few years, but we have a lot of respect for how Matin and his team executed with creatively and determination. While we're of course glad Balanced decided that migrating to Stripe was the best thing for their users, today is kinda bittersweet for…
Thanks for not processing orders with a different billing than shipping address.
Wasted 2 hours on the phone with the bank to find out it was all Stripe's fault.
Re: Balanced payments is shutting down
#134One side note (from a cofounder of WePay here). WePay is 100% focused on serving the needs of two-sided platforms like marketplaces - and now we're the only company that can claim to do so. We're bummed to see Balanced go, as I think they have a great product - indicative of what a focus on the space can produce. But we're excited to carry the torch forward. We process billions annually and have crossed the scale cha…
As a former customer of WePay, I'd like to warn everyone considering using WePay that their compliance department will shut you down multiple times, decline to specify why, then freeze all funds within your account. WePay is completely out of touch with their customers, and I would recommend Stripe over WePay any day.
Sounds like PayPal all over again
Re: Balanced payments is shutting down
#135I just want to say to anyone who works at Balanced that your work was exceptional and as a user, it was a huge blow to hear this news.
Re: Balanced payments is shutting down
#136Stripe cofounder here. I just wanted to tip our hats to the folks at Balanced. Stripe and Balanced have certainly competed against each other in the marketplace space for a few years, but we have a lot of respect for how Matin and his team executed with creatively and determination. While we're of course glad Balanced decided that migrating to Stripe was the best thing for their users, today is kinda bittersweet for…
Thanks for not processing orders with a different billing than shipping address. Wasted 2 hours on the phone with the bank to find out it was all Stripe's fault.
Hm, apologies -- we don't have any policy against that. Feel free to drop me a note with more details and I'll investigate. patrick@stripe.com.
Re: Balanced payments is shutting down
#137One side note (from a cofounder of WePay here). WePay is 100% focused on serving the needs of two-sided platforms like marketplaces - and now we're the only company that can claim to do so. We're bummed to see Balanced go, as I think they have a great product - indicative of what a focus on the space can produce. But we're excited to carry the torch forward. We process billions annually and have crossed the scale cha…
As a former customer of WePay, I'd like to warn everyone considering using WePay that their compliance department will shut you down multiple times, decline to specify why, then freeze all funds within your account. WePay is completely out of touch with their customers, and I would recommend Stripe over WePay any day.
I used WePay early on when they offered invoicing (which was the service I needed). I never had a problem with frozen funds or any other issues. Was sorry when they shut that service down.
Re: Balanced payments is shutting down
#138Stripe cofounder here. I just wanted to tip our hats to the folks at Balanced. Stripe and Balanced have certainly competed against each other in the marketplace space for a few years, but we have a lot of respect for how Matin and his team executed with creatively and determination. While we're of course glad Balanced decided that migrating to Stripe was the best thing for their users, today is kinda bittersweet for…
Although you should be doing it anyway, you should especially want to be friendly in on-boarding the transitioning customers… so PLEASE release all of Stripe's client-side JavaScript as free/libre/open software so that GNU LibreJS recognizes it.
In other words, while I and many others may wish you to actually get to Balanced's level of public commitment to transparency, the essential item is to allow people to simply use Stripe without being forced to run non-free code on their own machines client-side. Fixing this is as simple as making the source just for the client-side JS be available under an appropriate license and including some header or license file indicating this appropriately.
Please consider this, it will win you a lot of good will and is the right thing to do.
Re: Balanced payments is shutting down
#139Earlier quoted context omitted.
Yes, they should! This is a very mature and responsible shutdown (I'd also expect it to be mature and responsible, since payments are Very Important, but, on the other hand...). +1 to the Balanced executives for being mature.
Definitely a mature approach, and it's definitely better for Balanced customers to have a migration plan. However, I don't think we can assume that Balanced "[left itself] enough runway to look after [its] customers" or that the primary motivation is maturity. Balanced may have offered to sell their customer base to Stripe (or sell the company to Stripe, which presumably was refused). If Stripe accepted a deal to pur…
Doing the right think for a fair price is pretty much the definition of maturity.
Re: Balanced payments is shutting down
#140Earlier quoted context omitted.
If you don't get it working on Stripe, maybe you'll have better luck with WePay. They're a marketplace payments service like Balanced was, and they support ACH payments. https://www.wepay.com/developer/facilitate_withdrawals/settl... https://www.wepay.com/developer/facilitate_withdrawals/embed... Disclaimer: I haven't actually used them myself. YMMV.
WePay doesn't do ACH debits AFAIK.
WePay engineer here. We support ACH debits. Checkout the live example with "Pay with Bank Account" option here - https://www.wepay.com/developer/process_payments/iframe-chec...