Balanced, online payments solutions provider, has launched a new API: Balanced Payouts. The new API allows developers to integrate next day ACH deposits into existing apps and web properties. The next day deposit functionality was previously available through Balanced's full marketplace payments platform; however, after considering customer feedback, the company decided to offer the functionality as a standalone product.
Since last Fall, Balanced has garnered much attention (after its birth from Y Combinator) and great traction (Balanced now receives 100,000 API calls per day). With industry leaders and disruptors adopting its platform, Balanced has quickly progressed to a substantial payments player. Current customers include Vungle, Grubwithus, Kibin, Coursehorse, adworkz, and more).
The API uses REST protocol and returns calls in a JSON data format. Developers simply add bank account numbers to their account and Balanced verifies the account. Then for 25 cents a deposit, Balanced Payouts will deposit payments into the bank account next day. Those interested can find out more at the Balanced Payouts site.
Payments platforms have taken ecommerce by storm. Each platform has its own niche or value add. However, next day deposit functionality provides a unique approach to ecommerce. With the simple payment plan, and ease of integration, Balanced may move from startup to mainstream quickly.