Stripe made a tender offer to equity holders in 2021 at the $95B valuation. Maybe not as high as it could have traded up on the stock market at the same time but not chump change.
Reading this was so refreshing. A few years ago, I shut down a startup I'd spent the past 4 years on and honestly didn't know what to do with myself. In hindsight, it was obvious I was slowly killing myself with stress but I was so attached to the company I couldn't walk away. I appreciate contributions like this to the startup/hustle narrative. Thanks for sharing, Frank!
I know Dwolla's FiSync protocol is being adopted by more banks and is zero-cost, but for Square to provide the consumer coverage most merchants expect they would have to wait for FiSync to get to a much larger scale.
How would Dwolla help Square cut out the CC companies?
hi icelander, Sorry to let you down. If you're a Balanced customer, I'd be happy to answer any questions you have about the transition: [email protected]
Hi Keith, sorry for any inconvenience this has caused you and the Storefront team. Feel free to email me if you need any help with the migration: [email protected].
I sincerely appreciate the faith you placed in Balanced. I'm sorry we couldn't keep it going, but you're in good hands with Stripe.
I mean, the funds will be available for use in the recipients bank account within 10 minutes. The API call to perform this operation will have much lower latency than that. Did I understand your questions correctly?
(I'm a co-founder of Balanced, a payments company also building push to card (p2c) functionality [1])
> There's no way to map debit card numbers to routing/account numbers (afaik).
You're correct.
> They're probably using the ATM network primarily and another method if it's not supported.
Based on the settlement times advertised, it looks like Stripe is simply performing "unreferenced refunds" to debit cards, rather than using the various ATM networks to push funds out to cards. If they were using the ATM networks, you could expect sub-10 min settlement times.
Our API has been built, but we're giving private beta access to anyone that made prepayments via our crowdfunding campaign [1] first. Private beta will launch next week [2]. We want to make sure the performance (instant payouts & high coverage) is on par with our standards before a public release, which will happen later this summer.
Hi theflyingkiwi42. I'm a co-founder of Balanced. Happy to answer whatever questions you have about our product and hear how we can make Balanced's ACH products better, but don't want to derail this thread. Would you mind commenting on one, or more, of our ACH related GitHub issues [1]? Or you can email [email protected] to expand on your thoughts here. Cheers!
We do metered billing at Balanced [1], essentially "grossing out fees" and charging the merchant at the end of the day for one lump sum, rather than "netting out fees" which would require us to take our fee out per transaction. We've gotten a some praise from customers who call it "super clean [2]."