gbpin

This is not true.

Pin Payments here. This is obviously some great information from our friends at Braintree on traditional banking relationships. At Pin Payments, we actually introduced some new ways of doing things which are different than a traditional aggregated merchant account (like Stripe) or a traditional sponsored merchant account (like Braintree). Pin Payments is currently unique (as far as we know). We onboard merchants instantly for local and foreign currency and we do not handle the money (Perpetual, our custodian, does). We do not operate an aggregated merchant account, each dev/customer is actually represented individually with each banking partner. We actually abstract the bank from the relationship, so we can provide a redundant banking model. We also have SLA's with our banking partners to ensure as-close-to-immediate on-boarding as we can right now (aiming for realtime of course). It's taken us around 18 months to get this model up-and-running in Australia. We think this is pretty awesome for Aussie devs and we also think it will scale well beyond Australia (where the financial regulations are obviously amongst the strictest in the world). Just sayin'

I can't give you an ETA, but the chances are high.

I'm a co-founder of Pin Payments. Not shy, just on HN-sabbatical :)

There's a story to tell! Building something like this in Perth is hard, but that's part of what makes it such an opportunity.

We're by no means the only tech startup here too - given the population and isolation, Perth is well represented in Australian startup crowd.

(I'm from Pin Payments).

Yes, foreign currencies (e.g. USD) are a huge problem for small/new businesses here. Way too difficult.

Similar beginning, different goals :)

We don't differentiate on price :)

It's supposed to mean that the API responds with JSON data (as opposed to, say, XML). "REST" here just means we use standard URL patterns and rely on HTTP verbs (e.g. GET), to get stuff done.

Thanks. Plenty of red tape so far, but we're handling it.