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(I work on Stripe Issuing.) We've been primarily focused to date on companies where issuing cards is core to providing their business to customers, for example
by lachyg 8y ago
(I work on Stripe Issuing.)
We've been primarily focused to date on companies where issuing cards is core to providing their business to customers, for example a startup that provides expensing customers, or a platform that needs to purchase goods in the real world. We're less focused on a business just using it for their own expensing (as we don't have receipt upload functionality, etc).
To your two other questions though:
(1) Could users approve things in real time? Sort of. We provide the ability (as you noticed) through API, but it needs to be responded to in < 2s, which means it's not possible for a human to be in the flow.
(2) Could this be linked to an external bank account? Again, sort of. To get in the weeds: as soon as we approve an authorization, we're on the hook for those funds. A debit to an external balance (or bank account) may fail and Stripe would be on the line. This is why we typically require funds to be in a Stripe account prior to purchases taking place.
- ryanworl 8y agoRegarding 2), can Stripe Connect be used with Issuing? If each user of a Connect app just had their own Stripe account with their own balance, that sounds a lot simpler (for the developer).
- lachyg 8y agoYes!
- Immortalin 8y agoSo we can build an e-wallet service with Stripe Connect? If so, I would love to get in touch to discuss more!
- ryanmarsh 8y agoor a platform that needs to purchase goods in the real world So like Shipt or Postmates?
- ryandrake 8y agoAs a credit card customer it would be nice to be able to generate one or more temporary cards (physical or not), which are authorized for one transaction only, but are otherwise identical to my main card. That way I can use it with a merchant I simply don’t trust to have their act together, then safely toss it in the trash.
- miketery 8y agoBeen waiting for something like this for a while. Much nicer if you can keep a ledger of these auth'd cards and revoke if need be.
- VectorLock 8y agoI've wanted something like this for a long time as well. The ability to generate and discard one-off card numbers. Much less worry about those card numbers leaking, unauthorized transactions, etc.
- kbuck 8y agoA few banks provide a system like this. I'm aware of at least Bank of America and Citi. Bank of America calls it "ShopSafe"; you can generate a number for one-time or recurring payment with an associated limit and expiration date. Citi calls it Virtual Account Numbers. Theirs don't have a limit by default (but you can create one that does). Unfortunately, both systems use archaic Flash applets to generate and manage the numbers... I hate the Citi one in particular because it has sound effects when you press buttons.
- tbgvi 8y agoHopefully increasing the response time to > 2s (whether it's settable in the API or just has a longer timeout) is on the roadmap, I can think of lots of future use cases where you would want a human in the loop on authorizations. Looks like a great product and props to you and your team for shipping this.
- LeifCarrotson 8y agoI can also imagine of lots of future, intensely frustrating use cases where a user scans their card in a line at a point-of-sale, or is waiting on a "Confirming purchase, please wait" page on a website while your human in the loop puts this approval on hold for a few minutes until your cell phone finally rings. Currently, human-in-the-loop approvals do happen, but they happen long after the purchase goes through - ever gotten a call from your bank's card services department as you were leaving a gas station on a road trip? Much more convenient for the common use case where the human approves the transaction than the rare cases when the bank is on the hook for the stolen gas.
- driverdan 8y agoThat's not possible. Transactions need to be approved at the POS within a reasonable amount of time. Waiting for a human is to respond is not reasonable. You could pre-approve the transaction and then confirm it within 2 sec though.
- tbgvi 8y agoPre-approving a transaction would do the trick and it wouldn't hold up the line, good call.
- nickda 8y agoSince this is an API, that means you just build this into your app. You could initially decline the transaction, send a push alert to the user's app notifying them that the transaction is in review, then update them on that status when approved/declined. At that point the card can be run again and approved if that was the decision. You could even allow a pre-request through the app, when when approved would enable your user's card for the purchase. The possibilities are endless.
- sdmike1 8y agoDo you think this API could be used to create non-card payment tokens? For instance an implanted Java card like the VivoKey[0]? [0]https://vivokey.com/learn-more.html https://vivokey.com/learn-more.html
- foota 8y agoThat's amazing. I could imagine a personal web app where you set some sort of a personal spending limit and have to pre-approve transactions over that limit.
- homero 8y agoHow do you fund a stripe account without taking payments as a merchant at stripe
- semerda 8y agoQuick Q, who plays the role of the bank holding the backing funds? Or does stripe simply play the role of a transmitter, Btw is this similar to Marqeta‘s JIT solution?
- lachyg 8y agoWe play the role!
- curryhowardiso 8y agoTo confirm, you meaning Stripe? Does this work in all banking jurisdictions?
- atlasunshrugged 8y agoHe means Stripe (he introduced himself earlier in the thread), don't know the answer to the second q
- thedougie 8y agolachyg - who is the sponsoring bank for the visa and / or mastercard BIN's you issue?