|   Talk about a late brain fart... | DeeEight
Feb 18, 2002 11:35 AM | | using my paypal debit card to run the mtbr marketplace fees thru. |
| What? Why? nm | Metroid
Feb 18, 2002 1:48 PM | | |
| Well, I sell a LOT online... | DeeEight
Feb 18, 2002 2:00 PM | | over $700US in payments to my paypal account alone in the last 8 days.
But MTBR's marketplace needs a credit card # to file since unlike ebay, mtbr charges all the fees up front for posting. So to post stuff here I'd been using my visa card. But THEN i remembered my new paypal debit card works for online payments (its issued in partnership with mastercard) also, and is already in US dollars (my visa's in canadian) and there's a 1% cashback rebate offered for making online payments and store purchases with it. Also since my paypal account is for business mainly, it makes it easier to keep track of business related fees all off one statement than multiple ones. |
| Okay but I would be VERY careful with Paypal... | Metroid
Feb 19, 2002 6:29 AM | | Things are a little shakey for them and they have been getting a lot of bad press. They seem to be awash in lawsuits, patent infringements, banking regulations violations etc with injunctions and shut downs looming. Many analysts are very surprised they went ahead with their IPO. When I get PayPal payments, I always imediately withdraw the money. Since you seem to be doing some volume, you might want to look into C2IT from CitiBank. It may be a copycat service but at least it's from a real bank.
Here's a few quotes from the below articles...
Then, in February, came the real deal breaker. PayPal refused to release deposits totaling over $20,000 even after Brody sent verification information proving that his customers used their own credit cards (rather than stolen ones) to secure PayPal acounts. At that point, Brody contacted the FBI and decided to sue, not just to recover the cash in his account, but also for $400,000 worth of lost business.
------
The company had faced the prospect of delaying the IPO for the second time in two weeks after warning its widely used e-mail service could be shut down. PayPal said New York-based CertCo warned that it would seek a preliminary injunction to block its service, which had 12.8 million accountholders as of Dec. 31.
------
Menlow downgraded PayPal's IPO to "risky" Thursday. He had previously rated it as the first quarter's most promising IPO.
------
Besides the CertCo suit, PayPal is wrangling with banking regulators nationwide over whether its payment service should be licensed. Regulators in both Louisiana and New York have concluded PayPal is operating an unlicensed banking business.
Louisiana ordered PayPal to stop providing its service there in a Feb. 7 letter, but the company earlier this week persuaded regulators to delay the proposed order on an interim basis, according to the SEC filing.
California regulators forced PayPal to stop transferring money abroad until the company receives a state license -- a process expected to take at least four months, the company said.
http://www.salon.com/tech/feature/2001/02/23/pay_pal/index.html
http://www.salon.com/tech/wire/2002/02/15/paypal/index.html |
| |
