Stripe Connect - The payments platform for platforms

@roboswald +5 I've been using their API for the past few weeks and Connect was the only part of it that involved 'slightly' more friction than the rest. With this update though, they just completely eliminated it – amazing execution guys.

@roboswald We have been running Overnight on Stripe Connect for 1.5 years now. Up until this point I would say it's been good but not underrated. There were many shortcomings when it comes to the needs of a modern marketplace. I spent a ton of time with both their support and their compliance teams dealing with what I thought should have been non-issues. However, this update addresses all of those issues and more. I am thrilled to see they took some of my suggestions to heart, or were working on them anyway 😆 Congrats and thanks Stripe!

@roboswald Great to hear those issues were addressed! OOC, could you shoot me an email at edwin@stripe.com? Would love to hear more on what those issues specifically were and how we can continue to help Overnight grow.

@romainhuet This is awesome, love the demo!

@otymartin We're introducing Express for faster development and onboarding, and support for more business models: - With one-to-many payments, you can can easily split a payment from a single customer between multiple recipients. Imagine the payment for a Postmates order being divided between the restaurant, the courier, and Postmates. - Many-to-many payments enables platforms to split funds between multiple consumers and multiple third-party vendors or providers. The platforms use Connect to track every part of their payments flow in one place, and they don’t have to manually build and manage a ledger. - Holding funds gives you escrow-like ability to wait before paying out. Companies like Indiegogo can mitigate risk by waiting until after a campaign or event has occurred, before paying the fundraiser or event organizer. (Holding funds is limited to 90 days.) - Account Debits lets you debit a recipient’s Stripe account balance, instead of having to collect credit card information. Platforms like ChowNow use this to charge their restaurants for ancillary services, like marketing. You can read more here: https://stripe.com/blog/connect-...

@edwinwee @otymartin I use Stripe Connect to manage payments/paypouts for my app in Japan (opendoo.rs). Looks like Express is only available in the US. Any timelines for other locations rollout?

@nizargrira We hope to bring Express to more places soon, but don't have any timelines to share just yet.

@edwinwee (Working link as of writing this: https://stripe.com/blog/connect-...)

@dylanbathurst I agree that they are completely different use cases and both are very useful. Because they're so different, we view these integrations as distinct from the Connect product. We launched Works With Stripe (https://www.producthunt.com/post...) a couple months ago to highlight these integrations. We're also investing further in making integrations easier and hope to see more of them out there: https://stripe.com/works-with https://stripe.com/docs/building...

One thing we really need though, is the ability to change our default currency from AUD to USD. currently only AUD is available for Australian companies and that's a big pain point for us. Any chance this will be changed?

@omermolad Totally agreed that settling into non-AUD is important for businesses like Vervoe, and it's something we hope we can ship soon. We'll shoot you an email when it does.

@edwinwee Thanks Edwin, appreciate it. Our revenue and payouts (and expenses) are USD.