7 ms·
There's a reason "marketplaces" get a call out on this landing page. Every single startup that has to manage buyers and sellers ends up needing to implement the
by joshuakelly 6y ago
There's a reason "marketplaces" get a call out on this landing page. Every single startup that has to manage buyers and sellers ends up needing to implement their own bespoke "treasury" operations. There are other players in this space (Modern Treasury for example), but obviously the distinct Stripe advantage is integrating with the payment stack.
This would have saved years of development efforts and maintenance on treasury operations for my team at a previous gig (in the live events/ticketing space, who are probably going to read this comment - hi guys).
- radihuq 6y agoThis has an incredible amount of potential in the events space --- I'm excited to see what new advances this tech will enable
- jjeaff 6y agoSeems like that would be more inline with the stripe connect platform.
- radihuq 6y agoToday, yes, but I think in the long run a platform that implements something like Stripe Treasury has the opportunity to provide a ton of value for bottom-market event planners (think: those people that run 10 person workshops out of a community center)
- joshuakelly 6y agoIt's also true at the high end. Business decisions around key service providers in the AAA+ live events space are driven primarily by access to what effectively are financial services (advances and other lifecycle events, and in general the ability of your counter party to act as an underwriter). Access to quasi-financial services are the key differentiator at the top of the market. This will be especially true looking forward to the post-COVID relaunch of tours and festivals.
- pbowyer 6y agoWhy? I'm really not getting the usefulness of this offering, so can't have been exposed to or dealt with companies that have the problem it's solving. I have worked with events companies on ticketing systems, so any example scenario you can share around events would be great to help me understand.
- radihuq 6y agoIf I understand Stripe Treasury correctly, then a full-suite event management platform that implements this tech can drastically reduce friction for starting a small events business (sorry for the hasty weak reply; just wanted to get a response in before the thread locks. I'll email you some specific use cases in a couple days)
- bongers 6y agoWould you mind sharing the uses cases regarding events/ticketing with me as well?
- pbowyer 6y agoMy email address was wrong - I've fixed that now.
- adminu 6y agoI'd be interested as well, would appreciate an email
- alexxtomsk 6y agoPlease send me use-cases as well
- anon589 6y agoOutsourcing KYC is a questionable decision though - I’m wondering how much of a black box that is or you get the same info as if you implemented it yourself. There’s always false negatives for systems like this, and if Stripe wrongly tells you someone is good then are you liable for acting on that decision?
- weego 6y agoOutsourcing KYC is essential if you want preventative measures. Having your own just allows you to learn from getting stung.
- gcblkjaidfj 6y agoCorollary: Outsourcing KYC means they learn from you getting stung.
- derefr 6y agoWhich in turn means you benefit from everyone else who's already been stung. KYC solutions' risk:reward ratios start high, but asymptotically approach 0 as the provider learns from its customers' problems. If you're signing up for a well-established one, you're able to free-ride on all the learning that's already been done.
- giovannibonetti 6y agoYou can have your cake and eat it, too: - Start with a third-party KYC solution - Slowly develop your own and compare the results with the one from the provider - When your own solution provides something similar to the other one, you can abort the subscription
- enos_feedler 6y agoSort of like Apple cutting out Intel :P
- _alex_ 6y ago
- jjeaff 6y agoIsn't that just stripe connect?
- hammock 6y agoSo now anyone can create their own Venmo app, and just use Stripe Treasury on the backend? What's the idea behind this?
- swalsh 6y agoI don't think so, this is not really meant for consumer oriented applications. Completely different regulatory animal.
- nrmitchi 6y agoTreasury at this time appears to be limited to businesses that serve other business, not businesses that serve end-users. Obviously there is a lot of potential overlap there, but in those situations I suspect that the "rules" would be that you could use Treasury services for your "serving businesses" side, but not for your "end-consumer" side.
- akrymski 6y agoWhy would you provide ticket sellers with their own bank accounts? Why not send their funds straight to their actual bank accounts?
- ConnerFritz 6y agohi josh