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Earlier quoted context omitted.
ACH support?
Spreedly already supports vaulting bank account information, and while the number of gateways that we support passing bank account info to is still limited, we're growing that rapidly at the moment. Our gateway support is heavily influenced by customers, so anyone who has a gateway they'd like to pass bank account info to that we don't support today shouldn't hesitate to drop us a line.
In that case, may be they should have looked into funding aspect rather than shutting down and funding might have helped them to become large,independent player as they wished.
Since YC backed, funding should not have been much difficult either. So it is surprising,seeing from outside. Am I missing anything here?
Sad to hear this news. I had a wonderful time at Balanced. Payments is a very, very hard space, business-wise. All my best to my former co-workers.
Why is it hard, specifically?
Earlier quoted context omitted.
Hm, I can see what you mean -- edited to make clear what our involvement is. (I.e., the migration.)
With the migration, will our data be replicated or ported over to Stripe? I.E. We start the migration and we still have access to Balanced API while we make the needed changes to comply and test with Stripe. I want to start the migration, but don't want to lose access to Balanced all together until we're ready...
90 days doesn't seem enough time at all. We run a big system on balanced. We're fucked.
http://scott.a16z.com/2014/03/24/were-fd-its-over-coming-bac...
Interesting. Google Wallet for Digital Goods shut down last week. It was a service whereby a business might have subscribers on a monthly subscription. Google offered no migration path; businesses had to inconvenience all subscribers by getting them to re-subscribe. It's fascinating that a startup which is going out of business acts in a more responsible manner than a huge tech company. Kudos to Balanced for doing th…
I'd like to be as optimistic as you are about this act by balanced, but I can't help but suspect there was some kind of deal between the two companies. After all, this will bring new business to stripe...
Stripe 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…
pc, it appears that the Stripe client libraries do not support Balanced-like features. i.e. ACH debits, marketplaces, etc. Migrating over to Stripe sounds great, but having these libraries updated with the proper endpoints seems like a must.
Specifically, for those in the ACH beta you can put a customer's bank account token in that field to charge their bank account.