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I'd love to hear why you didn't choose Stripe -- feel free to drop me a line. I'm patrick@stripe.com.
by pc 13y ago
I'd love to hear why you didn't choose Stripe -- feel free to drop me a line. I'm patrick@stripe.com.
- nicarus1984 13y agoI have to say that not only do you have a very good product/service, but I am constantly impressed by your engagement in it and apparent commitment to your customer base.
- pc 13y agothanks!
- rbritton 13y agoI'm not the OP, but I opted for Balanced over Stripe due to the delay in getting paid. Aside from that I prefer Stripe's API and overall experience more.
- steveklabnik 13y agoBalanced employee here: if anyone's wondering, we do next day deposits for all accounts and same-day deposits for Wells Fargo accounts. Some people even just use is solely for payouts. And rbritton, as the guy in charge of the API these days, I'd love to hear how I can make it better.
- steven2012 13y agoNext day deposits? Does this mean Balanced has no reserve policy?
- steveklabnik 13y agoYup, we don't mandate reserves. Marketplaces are liable for things like chargebacks, so many people do keep reserves and use our escrow functionality.
- rbritton 13y agoI use Balanced for a non-marketplace ordering system as well as in an in-person ordering app. The Balanced dashboard is used for any account management and refunds. I found the process of actually taking and charging a card to be a bit cumbersome with having to tokenize the card (wait for response), create the customer record (wait for response), associate the card token (wait for response), and finally create the debit (wait for response). The tokenizing I'm absolutely fine with since it offloads the bulk of PCI compliance to Balanced, but the last three steps seemed a bit much when all I wanted to do was debit the card. I don't have any need to save a permanent customer and card record. This is a process Stripe doesn't have as far as I can tell, but I was ultimately willing to deal with it for the faster payouts. I also like Stripe's two-factor authentication support. And, on another note, I was a bit disappointed with both Balanced and Stripe's iOS libraries. They only support tokenizing a card. Though this is likely going to be the bulk of use by many people it meant creating everything else from scratch.
- ewang1 13y agoIf you don't have any need to save the customer and card for subsequent charges, then I believe (on Stripe) you can simply pass the token to the payment object API, eliminating 2 of your 4 steps.
- steveklabnik 13y agoThanks! That makes sense. This process only needs to fully happen the first time, but I bet we can make that a bit easier. I've made an issue to track this on GitHub, let's talk more over there: https://github.com/balanced/balanced-api/issues/472 https://github.com/balanced/balanced-api/issues/472
- Axsuul 13y agoIs Stripe planning on offering next-day/same-day deposits anytime soon (for all accounts)? This is becoming a big problem for us and we're considering switching to Balanced because of it.