Ask HN: How do you build a payments app like Venmo?

Re:Ask HN: How do you build a payments app like Venmo? by wilde on Thursday May 03, 2018 @03:12AM (#16983953)

How much are you willing to spend per transaction? With Stripe or Braintree it’s trivial but expensive.

Are you targeting just the US market and dollars? Going directly with a bank is cheaper but more complex [1]. And unless you’re adding significant value you’ll probably need a money transmitter license in your state.

And if you’re planning on letting any asshole on the internet use this, you need an anti-fraud strategy because settlement times are measured in days and there are plenty of ways that money can be sent but never refunded.

Good luck!

[1] http://engineering.gusto.com/how-ach-works-a-developer-persp...

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Re:Ask HN: How do you build a payments app like Venmo? by idax on Thursday May 03, 2018 @08:55PM (#16991363)

Thanks for this. That link is extremely helpful and goes in depth to the ACH Networks from a developers perspective. Cheers!

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Re:Ask HN: How do you build a payments app like Venmo? by JJE_Cassinfo on Thursday May 17, 2018 @03:21PM (#17094608)

Cass is an agile bank /fintech that you may be able to partner with for cost effective access to the ACH network. We support payments for various marketplaces. (Disclaimer: I work for Cass.)

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