Paypal has a challenger

by **DocTrebor** » Mon Feb 07, 2005 10:12 pm

Anyone know about this?

http://www.cnn.com/2005/TECH/internet/02/07/china.alibaba.reut/index.html

by **Irish** » Mon Feb 07, 2005 11:03 pm

Looks like it will be for China only. Even if the service went global I wouldn't want my money floating around a communist country.

by **Mr. Slayer** » Mon Feb 07, 2005 11:09 pm

Paypal has grown to be a very trusted company with high satisfaction rates anyway. I don't think there would be much competition if this company went global. Many would probably share Irish's opinion as well.

by **residue** » Mon Feb 07, 2005 11:21 pm

paypal bleh.

by **Mr. Slayer** » Mon Feb 07, 2005 11:24 pm

Originally posted by residue
paypal bleh.

residue bleh.

by **DocTrebor** » Mon Feb 07, 2005 11:59 pm

communists bleh

by **JimmyTango** » Tue Feb 08, 2005 8:42 am

Originally posted by Mr. Slayer
Paypal has grown to be a very trusted company with high satisfaction rates anyway.

Trusted?

http://www.paypalsucks.com

They are a rip off. Charging 3% for a transaction? I get HALF THAT for credit card transactions in my store.

by **||ASS||Mortimer** » Tue Feb 08, 2005 10:13 am

No offense Jimmy, but I think Paypal's overhead is a lil higher than yours:P

by **SkiloDog2000** » Tue Feb 08, 2005 10:27 am

mm icecream

by **JimmyTango** » Tue Feb 08, 2005 11:04 am

Originally posted by ||ASS||Mortimer
No offense Jimmy, but I think Paypal's overhead is a lil higher than yours:P

Then you do not understand what Paypal is(or what I said). The family business is not a credit card transaction company, we are a retailer. I am comparing using a credit card transaction company to Paypal, not my family's business to Paypal.

All Paypal is is a credit card transaction company that will also use check and bank accounts. They also make interest off of all money in your account. They charge twice the amount for transactions than 'real' credit card transaction companies.

They are a complete rip off.

by **||ASS||Mortimer** » Tue Feb 08, 2005 11:35 am

Originally posted by JimmyTango
They are a complete rip off.

No argument there...

by **MMmmGood** » Tue Feb 08, 2005 1:01 pm

Originally posted by JimmyTango
Then you do not understand what Paypal is(or what I said). The family business is not a credit card transaction company, we are a retailer. I am comparing using a credit card transaction company to Paypal, not my family's business to Paypal.

All Paypal is is a credit card transaction company that will also use check and bank accounts. They also make interest off of all money in your account. They charge twice the amount for transactions than 'real' credit card transaction companies.

They are a complete rip off.

I'd have to agree with you there. They make all of their money by simply moving numbers around. They are not a bank so none of the rules apply to them either.

by **Irish** » Tue Feb 08, 2005 2:15 pm

I hear everyone but at the same time they make it pretty simple to exchange money over the internet. They give you transaction details and such. If it was such a bitch noone would use it but they do. Look at all the sites with a Paypal link. Now 3% compared to 1.5% is allot on someones money but what monthly fee's does your merchant banks charge for using the credit card reader? My point being if you don't charge much you still pay a monthly fee compared to Paypal where you only get charged per transaction.

Getting off topic. My thing is regardless of the new system unseating Paypal in the States won't happen anytime soon. Especially with a communist country setting up the alternative.

Now if the UK and specifically the European Union set something up I may listen.

Edit:
Paypal is great for the occassional listing on Ebay. If you don't have a store or sell items on a regular basis I don't think the fee's are that extreme.

by **King** » Tue Feb 08, 2005 2:21 pm

Originally posted by JimmyTango
Trusted?

http://www.paypalsucks.com

They are a rip off. Charging 3% for a transaction? I get HALF THAT for credit card transactions in my store.

No shit, FUCK paypal... both Ebay and Paypal are the whole reason why my company is only going to be located on Half.Com. Even though Half is owned by ebay, there isnt a listing fee and the percentage taken out after the final transaction... NOT when you make a sale then have it shipped and pay for a store listing format and all the other BS fees they make you pay. And its murder on sorting your books at the end of two weeks.

by **MeatHead_NJ** » Tue Feb 08, 2005 2:26 pm

It's the price of "convience", okay i think were all talking about (ebay) some sellers have no problem with MO or creditcards.
My boss sells lots of Vette shistuff on ebay but only does MO.
But hes willing to buy using PayPal.

I think its interesting how many shareware sites accept donations from PayPal.

Citibank online, didn't they close they're version of "PayPal" offering. I had theres it was free for all citibank to citibank transactions.
Western Union has one. But no one really seems to use it.

Sure it costs you more to be the seller (just factor that into your cost) but when you don't have to invest in anymore outlay then just taking a picture of the Madonna skid mark in your underware and seeing who buys it, how much are you out anyway? I would have just tossed them in the trash but im willing to share 10% for my art.

Irish... Yea i agree with you must have started typing this before you posted.

Paypal has a challenger

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