3 ms·
Congrats to the teams at Stripe for getting this out. This opens up a lot of potential for innovation with these kinds of cards. Well done! Stripe and Twillio
by brentjanderson 8y ago
Congrats to the teams at Stripe for getting this out. This opens up a lot of potential for innovation with these kinds of cards. Well done!
Stripe and Twillio lower barriers to entry with products like this. This eliminates a powerful moat that other companies have built. Starting a digital bank or expense report software like Divvy are now much easier. What companies will be at greater risk because this is now an API?
- jotm 8y agoNot sure if you know, but Bank of America, Paypal and others have tried this a long time ago (in Internet years). They all abandoned this idea, iirc because of the upkeep costs (?) and massive amount of fraudulent use.
- toyg 8y agoFraud is what I keep thinking about. Hopefully Stripe put in place some robust tracking, or it will get messy.
- brentjanderson 8y agoI suspect the key fraud deterrent is that funds must be available in Stripe in order for the card to accept the transaction. In other words, if I issue a card via Stripe and you attempt to use it fraudulently, I'm on the hook for the transaction either way.