Considering Stripe forbids financial services in their t&c's, and this allows Stripe users to implement financial services, the question is, what kind of financial services are now allowed?

Would be great to hear a few use cases for Treasury that can't be done with existing Connect platform (and which fall within t&c's).

Genuinely curious.

Stripe Connect can't be used to hold funds from many rides for a month; they have to pay it out to a bank account (which they might not have) or to a disbursement card, which (because loan repayments are generally not paid on a card in the U.S.) likely doesn't solve their problem without withdrawing cash and buying a money order. That is extra effort and cost for the driver.

Stripe Treasury would let the rideshare platform give their drivers an embedded money management account. That would allow indefinitely holding money, and would allow them to use e.g. bill pay for car payments, similar to the way that many HNers probably pay their own car payments today.

This is good for the platform (solves a pain point for many drivers) and good for the drivers (they get faster access to their funds, decreasing the likelihood they'll get dinged for a late repayment, and can spend less of their time managing low-value-added money movement when they could instead be driving).

When I say permit, I mean from an acceptable use point of view, not an engineering point of view.

We don't support using Payments to collect loan repayments in most cases.

Are their cases where you do support using Payments for loan repayment?

I've had an idea for an "informal loan" platform that facilitates loans between friends, but paid back automatically, but I haven't ever acted on it because of the ban on using Stripe for loan repayments.

Synapse offers something like this, but is geared more toward loan origination than to strictly facilitation.

I understand some people have trouble banking, but the answer should then be for us to ensure they can have equal access to banking, no matter what.

[0] https://www.irs.gov/newsroom/economic-impact-payments-being-...

Not that any gig companies are doing this yet, or even thought to do it, but I just don't like the idea of this being done in a "company scrips"-like fashion, there are some things that should be totally nuclear to the touch, and tying even more of your life to your company (in the USA you have medical, housing, food, etc. tied to your work) should be nuclear.

I signed up on the wait list and emailed patio11 specifically to build such a product. Regarding your point about company scrip, I think prevention against that is best served by reaching out to your Congressional representatives, as well as members of the U.S. House Committee on Financial Services, to legislate safeguards. Without the force of law, protections are only polite suggestions.

>Stripe Treasury would let the rideshare platform give their drivers an embedded money management account. That would allow indefinitely holding money, and would allow them to use e.g. bill pay for car payments, similar to the way that many HNers probably pay their own car payments today.

It sounds like what Stripe is doing is providing a quasi-bank account, kind of retail frontend emulating limited banking services and backend-ed by GS and the likes as Stripe doesn't seems to have a license themselves ("commoditize your complement" comes to mind). Though it doesn't sound like a service for the driver, it only looks like it. It is the service for the platform. Interesting who really owns the "embedded" account/money - platform or the driver. If the driver then it looks more like bank, if the platform - interesting can of worms, like you employer providing an imitation of a real account for you and holding money in your name. I.e. it seems that the point here is to find a way to keep money in the system (the platform keeping drivers' money in Stripe - i.e. "That would allow indefinitely holding money" seems to be the key here) instead of just merely piping the money.

Just curious, who gets paid the interest on these accounts?