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.<p>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).
Hi everyone, I’m Tara, PM on Stripe Treasury. Treasury is a banking-as-a-service API for platforms—built in partnership with the world’s leading banks. Embed interest-earning accounts, bill pay, ACH and wire transfers, and faster access to revenue directly in your platform. Happy to answer any questions here—and I’d love to hear your feedback!
I look forward to the GitHub project that makes a one-click to deploy to Heroku your own "bank" using this. :)<p>I haven't dug into their terms, but is there any reason you couldn't create effectively a bank of one customer (or even just your family?) with this, backed by their larger institutions? Issue your own debit cards, the works?
Bit of an aside, but as a new entrepreneur selling physical products (<a href="https://narwallmask.com" rel="nofollow">https://narwallmask.com</a>) I've been surprised by how much time I spend banking.<p>Moving money around is way more of a headache than I would have anticipated. And that's before you even get into questions of working capital etc.<p>As a former eng at Stripe who didn't know this product was coming, I'm very excited to see what gets built on top of it, and to see innovation spurred in business fintech in general.
Super interesting from a business perspective, but can’t help but think of the personal front too. While it may be difficult to execute safely/cheaply, just the <i>idea</i> rolling my own personal checking account is phenomenal.
I'm continue to be amazed by Stripe innovations. Financials companies used to stagnate (e.g. PayPal) while Stripe keeps reinventing itself... Stripe Capital, Stripe Checkout, Stripe Treasury...
I tried out Stripe's API years and years ago and it was immediately obvious that these guys were good.<p>I think you can tell a lot about a company by how well they do their documentation.
Does this service allow anyone that is legally allowed to participate in the US financial system? Or is it limited to people that your partner banks "want" to deal with?<p>I'm thinking about the unbanked and others that financial institutions tend to not want to deal with. Living in a large city, I've seen plenty of people that use gift cards, transit cards, etc as their "bank" because bank services are unavailable or the fee structure is too onerous. Or, for example, someone that has been in prison for financial crimes and needs a way to rehabilitate back into society.<p>Thanks!
Now every company can be a FinTech company!<p><a href="https://a16z.com/2020/01/21/every-company-will-be-a-fintech-company/" rel="nofollow">https://a16z.com/2020/01/21/every-company-will-be-a-fintech-...</a>
If I were to build a Bank on top of this, what's stopping Stripe from coming up with their own Banking service that undercuts my bank on every financial metric imaginable due to their higher margins?<p>Honestly that seems pretty inevitable given Stripe Corporate Card came out almost immediately after Stripe Issuing.
Does this allow me to basically create my own bank? Like could I make my own version of Simple, and use this as the back end? I'm confused because I thought there were a lot of legal requirements to banking and not just the actual services they provide, which this seems to commoditize.
I see a lot of comments about the applications for startups, which is only logical. (This is HN after all.) But I think this could be even more transformative in vehicle sales.<p>Example: I work for a boat manufacturer. We've wanted to sell boats online for many years, but it's not the kind of product you charge to a credit card. (Most of our boats are in the $30k-80k range.)<p>So one of the biggest challenges to selling online is the financing. A service like this, once it opens up outside the US and for B2C, could solve that problem.<p>I could see this having a transformative (disruptive?) effect on boats, RVs, cars, trucks, ATVs, etc. Basically any big-ticket item that doesn't require getting a lawyer involved.
Evolve Bank & Trust will probably be the bank most of these funds sit in [0]. With this partnership, and their Mercury Bank partnership [1], they've positioned themselves very well. For a small bank out of Memphis [2], this is quite impressive.<p>[0]: <a href="https://stripe.com/treasury#request-invite" rel="nofollow">https://stripe.com/treasury#request-invite</a><p>[1]: <a href="https://mercury.com/" rel="nofollow">https://mercury.com/</a><p>[2]: <a href="https://www.getevolved.com/contact/locations/" rel="nofollow">https://www.getevolved.com/contact/locations/</a>
It's great Stripe is coming up with new services and changing how we do business online. Most purchases are now happening online, subscription based services are on rise and consumer buying habit is changing as well.<p>I like Stripe and I use Stripe for my business. What I don't like about Stripe is they stepping on toes of their customers. Stripe starts with API service and later they introduce their product competing with early adopters. A good example is Stripe Billing [0]. Additionally, they position their products top on their partners page, therefore making it "popular". I wouldn't be surprised to see Stripe launching their own virtual bank product.<p>[0] <a href="https://stripe.com/billing" rel="nofollow">https://stripe.com/billing</a>
[1] <a href="https://stripe.com/partners/apps-and-extensions/collection/recurring-payments" rel="nofollow">https://stripe.com/partners/apps-and-extensions/collection/r...</a>
does this mean I could create and operate my own interest-free bank where people can store money and pay their bills, without me having to go through all the regulations?
Question for others running marketplaces: how does Stripe Treasury and Connect play with other payment systems? Or they simply don’t?<p>The issue we have is that a large percentage of our customers want to pay with PayPal and I suppose in the future that will expand into other payment methods. Because of this we have to be payment method agnostic and we run both Stripe (for CC) and PayPal.<p>We’ve always been interested in things like Stripe Connect and I’m sure Treasury is interesting also but it all seems very Stripe-locked-in and would only work with payments going via Stripe (credit cards mostly and Apple Pay) which means that marketplaces that support PayPal are out? PayPal has its own marketplace product as well but again, that is too locked into the whole PayPal platform.
Perhaps it is too early to ask this question, but in case anyone here is an early user of Stripe Treasury (or there are Stripe employees here):<p>What is the Stripe Treasury equivalent of a Twilio Twiml Bin ?<p>A Twiml bin is a block of code that you can enter <i>into your twilio account, through their management interface</i> and then perform actions, etc., without any outside hosting of code or additional services.<p>It's perhaps not the most powerful mechanism but it is tremendously simple and efficient to just type the code into the user interface in your account rather than hosting code to call with webhooks, etc., etc.
A related article and discussion are here: <a href="https://news.ycombinator.com/item?id=25289523" rel="nofollow">https://news.ycombinator.com/item?id=25289523</a>
This is the direction I hoped Xero would head, but unfortunately never quite made it. It has all the relationships in place to do so, and their software already handles these transactions at the accounting level.<p>It seemed as if the fear of disrupting banks/banking relationships won out against innovation. Rather than build the necessary product and commodity banking they’ve worked with the banks to build out their products.<p>I’m sure they’re still having a lot of meetings...<p>Congrats to stripe for getting it done. Huge effort.
I'm normally a big fan of the web design work from Stripe - but this page is a mess on mobile Safari (iOS 10.3.3). It seems more and more companies are dropping basic support for "older" devices and it's a real shame. Having this look great on even very old devices should be simple, since this page doesn't even do anything that "cutting edge".
Correct me if I'm wrong, but this appears to be Stripe trying to take make inroads with Plaid's existing services?<p>Is it just me, or is this expansion of Stripe's functionality a bit concerning? It goes without saying, that now Stripe will be able to clamp down and censor banking AND payment activity they deem inappropriate or allowed by their banking partners?
I've been thinking about this in the back of my head all day. I think this is a really big deal, if it's being done the way I imagine.<p>"Embedding financial services" as an API is essentially an Identity service that ties directly into your platform. This opens the door for a lot of very cool stuff.<p>I'm definitely hoping to get an invite to beta test this.
This announcement comes very close to Atlanta entrepreneur/rapper Micheal Render (Killer Mike)'s Greenwood bank, a grassroots black owned bank. I wonder if they are using Stripe Treasury as their banking platform.<p>Bank: <a href="https://bankgreenwood.com/" rel="nofollow">https://bankgreenwood.com/</a>
Marketplaces holding on to my funds for longer than necessary seems like a dark pattern. Why would a Shopify seller want this? If I wanted a bank account - I'd go to a bank.<p>Conceptually this reminds me of embedded messaging: every app provides its own inbox, instead of properly integrating with my email inbox. More walled gardens.
Truly remarkable service. I am sure this is not the intended use case, but am wondering if it would be possible to build an experimental stock (or alternative capital asset) exchange with Stripe Treasury? It seems as though all the pieces are included. Including interest rollover, and potentially margin trading accounts.
Is this multi currency or USD only? Does this mean I can store EUR alongside USD via my Stripe checkout sales, instead of being forced to convert immediately?
Interest on short term holdings - sweet. Then again, AWS is a bank that gives 30 day loans - they still win because the payment friction is after the fact.
Would have been nice if stripe actually got into the consumer banking business instead of using existing big bank infrastructure. Probably could have spun off a separate entity for consumer banking and hook their treasury api into that system.<p>Partnering with companies such as Goldman Sachs is typically not a good look from an optics perspective - <a href="https://en.wikipedia.org/wiki/Goldman_Sachs_controversies" rel="nofollow">https://en.wikipedia.org/wiki/Goldman_Sachs_controversies</a>
The examples are built using NodeJS and are using Javascript's default number type (instead of the new BigInt or something more suitable) to represent the amount of money.<p>I love Node, but using number type for money seems like a very, very bad idea.
This looks like a great product from Stripe. If anyone is searching for an offering thats a bit more mature and not invite only, I highly recommend Synapse[0] as a Banking as a Service platform.<p>[0] <a href="https://synapsefi.com/" rel="nofollow">https://synapsefi.com/</a>