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!
Did you feel the stress at the time or was it a slow creep? In my case I felt like I as dealing with it fine, but realized a drastic change in how I was thinking after it was over.
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?
I think FiSync and Square both benefit from a vertical merger (I'm considering then to be in separate market spaces rather than competitors; which certainly could be debated). Both get a near term benefit of the expanded customer base which should help them expand. FiSync would benefit Square as would Dwolla Credit as a credit card alternative
Credit cards won't be immediately replaced as they are accepted virtually everywhere. I think Square could be positioned well to replace credit cards though using the old Microsoft model of embrace, extend, extinguish.
Embrace credit cards in the short game. Extend with direct payments (bank to bank and alternative line of revolving credit). Extinguish; pull the plug on the credit card companies once they achieve high enough rate of adoption.
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: jkwade@balancedpayments.com
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: jkwade@balancedpayments.com.
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'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.
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?
