Balanced payments is shutting down

#1

Post by dynabros » Fri, Mar 13, 2015, 9:02 PM UTC

Balanced payments is shutting down
balancedpayments.com

Re: Balanced payments is shutting down

#2

Post by minimaxir » Fri, Mar 13, 2015, 9:14 PM UTC

It's worth noting that Balanced Payments was YC W11, which probably made the transition to Stripe a little smoother.

Re: Balanced payments is shutting down

#3

Post by downandout » Fri, Mar 13, 2015, 9:15 PM UTC

That sucks. They were the only people in the payments industry that could (or would) do same-day transfers to your bank account. The best Stripe will do is a 2 day rolling schedule.

Re: Balanced payments is shutting down

#4

Post by [deleted] » Fri, Mar 13, 2015, 9:17 PM UTC

[deleted]

Re: Balanced payments is shutting down

#5

Post by bbissoon » Fri, Mar 13, 2015, 9:17 PM UTC

... Wow, after all that work building a product on Balanced.

Re: Balanced payments is shutting down

#6

Post by ryduh » Fri, Mar 13, 2015, 9:18 PM UTC

I'm so bummed about this. We choose Balanced for www.seedwise.com specifically for its per order escrow feature. We'll be missing that in Stripe as we move over.

Re: Balanced payments is shutting down

#7

Post by icelancer » Fri, Mar 13, 2015, 9:20 PM UTC

Was worried about this for some time. They didn't support major third party shopping carts and ignored Github support tickets for months on end despite IRC help staff suggesting to submit them.

They had great payout rules but when Stripe cut down on those times... Balanced was in a bad spot.

Happy to see they will transition smoothly to an industry leader, even if their platforms aren't even close to being the same.

Re: Balanced payments is shutting down

#8

Post by steveklabnik » Fri, Mar 13, 2015, 9:20 PM UTC

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.

Re: Balanced payments is shutting down

#9

Post by nhangen » Fri, Mar 13, 2015, 9:20 PM UTC

This felt like an April Fool's joke at first. I mean...I understand that Stripe is crushing it, but Balanced has a great product, and it really felt like they were making incremental gains in the marketplace.

No matter how you slice it, competition is good and necessary, and it really sucks to see this happen to a good team.

Re: Balanced payments is shutting down

#10

Post by revisedallocute » Fri, Mar 13, 2015, 9:20 PM UTC

ryduh wrote: post #6

I'm so bummed about this. We choose Balanced for www.seedwise.com specifically for its per order escrow feature. We'll be missing that in Stripe as we move over.

you won't notice difference.