SynapsePay

Stripe for ACH & wires

1 follower

Stripe for ACH & wires

1 follower

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WealthBot.io

Wow, this is cool. How do your costs compare with alternatives in the market? I bet an integrations with wealthbot.io (http://www.producthunt.com/posts... down below) could result in an incredibly lost cost platform for Investment Advisors. SynapsePay for the deposit. Webo to manage and balance the portfolio. Mix in https://robinhood.com/ somehow for zero dollar trades, and you're really cooking.

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11yr ago

StartupCTO.io 22 – Jud Valeski

Hunter

@gkobilansky costs are far and away better than any other option. Dwolla is also 25 cents per transaction, but they're not white label.

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11yr ago

SynapsePay

Maker

@gkobilansky Thanks! ACH payments are 25¢ per transaction (or 10¢ for transactions under $10). Wire transfers are $3 inbound, $10 outbound.

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11yr ago

I'm glad there are more companies trying to disrupt the credit card market. But, how is this different from @Dwolla?

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11yr ago

StartupCTO.io 22 – Jud Valeski

Hunter

@mccroden see my answer above. Short answer: SynapsePay is white label and Dwolla is not.

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11yr ago

SynapsePay

Maker

Hey Product Hunters, I'm Sankaet, Founder of SynapsePay. We're a white-labeled API for sending & receiving funds between bank accounts. We currently support ACH payments and domestic wire transfers in the US. Happy to answer any questions!

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11yr ago

Instant Vitals

@sankaet this is great. How far out is international support? What are the blockers?

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11yr ago

SynapsePay

Maker

@hartshorne thanks. We're look at opening international payments in select countries by Q1 of next year.

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11yr ago

This is fantastic! Setting up ACH has been such a huge pain. I was just telling [ACH provider that shall remain unnamed] that they were going to get it handed to them by someone who is probably making the Stripe of ACH right now. They didn't even know what Stripe was. I hope this delivers on truly seamless ACH experiences without all the crap that you normally have to go through. I love(d) the promise of Dwolla but requiring the customer to leave the selling/onboarding process was a deal killer for us.

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11yr ago

SynapsePay

Maker

@markgustav yeah, we've definitely seen a big need for white-labeling the payment process. Our APIs are 100% seamless, so it looks like you built your own payment infrastructure and your customers never have to leave your site.

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11yr ago

StartupCTO.io 22 – Jud Valeski

Hunter

We use this for our crowdfunding platform, EquityEats, and have been happy with their support. Anyone that has dealt with ACH knows that it's a pain, but SynapsePay makes it easy - and at a flat rate of 25 cents a transaction! They started in Memphis, moved to SF a while back, and are making lots of progress! I also release their initial ruby client for their API (which I still use and maintain although they've since released official clients): https://github.com/milesmatthias...

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11yr ago

How does this compare to Dwolla?

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11yr ago

StartupCTO.io 22 – Jud Valeski

Hunter

@jsinghdreams Dwolla is comparable to PayPal in the fact that a user has to have a Dwolla account and link bank accounts to that Dwolla account before doing anything with their Dwolla balance. SynapsePay white labels all of that so that users don't need to worry about having another account somewhere else. For example, if we used Dwolla at @EquityEats, we would have to tell our users to go make a Dwolla account and come back to our site after they've funded that Dwolla account, whereas with SynapsePay the user can just enter their banking credentials straight away and be done.

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11yr ago

SynapsePay

Maker

Thanks @miles_matthias. In short: we are a completely white-labeled payment solution, so customers don't have to create an account with us. Instead they just login to their bank account on your website/application and make a payment.

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11yr ago

cool. this is what I used to use Balanced Payments for before they shut down

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11yr ago

SynapsePay

Maker

@_jacksmith, thanks. It was definitely sad to hear about Balanced shutting down. We are still helping with integrations for a lot of developers that need a marketplace solution. Feel free to chat with us on our website anytime.

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11yr ago

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