regulations
Ask HN: Why does Paypal still exist?
21–30 of 45 posts
Re: Ask HN: Why does Paypal still exist?
#22Earlier quoted context omitted.
I once saw a pdf which listed all the third parties that PayPal shares its information with. It was more than 30 pages.
how does that compare with a typical credit card company?
When my mom’s small business would receive a chargeback from her merchant bank, they would send her the ENTIRE customer’s card statement for the month in question. By email.
Re: Ask HN: Why does Paypal still exist?
#23Earlier quoted context omitted.
I once saw a pdf which listed all the third parties that PayPal shares its information with. It was more than 30 pages.
>> Paypal provides an effective dispute resolution process and enables customers to pay for stuff by explicitly authorizing a payment and without giving away their payment info to unknown third-parties. > I once saw a pdf which listed all the third parties that PayPal shares its information with. It was more than 30 pages. What kind of info do they share with those third parties? I think the GP's point stands, since…
Offtopic: PayPal shares more than we think it does. I've had issues where certain merchants asked me to confirm identity by sending copy of utility bill for address I had on PayPal account. I thought my address is private so sent a bill for my siblings house where I also paid the bills for internet, but they reported that address is not same with PayPal, so I argued a bit but eventually had to send one for correct address. I think that, PayPal doesn't share CVV but merchants can view all personal info attached to my PayPal account.
Re: Ask HN: Why does Paypal still exist?
#24Not sure about your first question, but the second involves your typical very difficult marketplace building.
You need merchants that use the service; you need customers that use the service. Paypal was the first to build those.
Re: Ask HN: Why does Paypal still exist?
#25Because nobody else has a "buy now" button that is so simple to be plopped onto a static site and doesn't have a monthly fee. Stripe requires a back end and a fee. Shopify has a monthly fee. If you're doing low volume, that fee adds up.
Re: Ask HN: Why does Paypal still exist?
#26Because nobody else has a "buy now" button that is so simple to be plopped onto a static site and doesn't have a monthly fee. Stripe requires a back end and a fee. Shopify has a monthly fee. If you're doing low volume, that fee adds up.
there are a few "buy me a coffee" websites that basically act as a middle man for stripe that take 2-3% fee.
Re: Ask HN: Why does Paypal still exist?
#27I use PayPal for subscriptions only. It has a nice dashboard that lets me see, monitor, and cancel subscriptions with the click of a button. No dark patterns. I dont have to find the email I used. I don't have to answer any questions. It just works.
Re: Ask HN: Why does Paypal still exist?
#28As a paypal user, the problem you describe is not my problem. Paypal is useful for settling up among friends by transferring small amounts of money around with minimal friction, enabling us to coordinate group activities without needing to waste a bunch of time meeting up physically and collecting cash. I believe that Paypal simply eats the transaction cost for such interactions in order to keep us involved with their service, which seems fair. Additionally, Paypal is useful for making occasional purchases from small vendors I don't trust to maintain effective information security. The more places I enter my billing credentials, the more likely they are to get leaked and exploited, and then I have a hassle to deal with. I'd prefer to avoid that. I use paypal instead so that managing these risks is their problem. They charge the vendor a percentage, which is again reasonable because paypal's service is making it more likely that I will be comfortable doing business with the vendor in the first place. If paypal were not an option, a good fraction of the time I would just choose not to make the purchase or to buy locally; taking a 5% cut on the transaction is not unreasonable if the transaction would not otherwise be happening and all the other parties are getting their needs met.
Re: Ask HN: Why does Paypal still exist?
#29Stripe is not supported in my country.
Re: Ask HN: Why does Paypal still exist?
#30Earlier quoted context omitted.
>> Paypal provides an effective dispute resolution process and enables customers to pay for stuff by explicitly authorizing a payment and without giving away their payment info to unknown third-parties. > I once saw a pdf which listed all the third parties that PayPal shares its information with. It was more than 30 pages. What kind of info do they share with those third parties? I think the GP's point stands, since…
Offtopic: PayPal shares more than we think it does. I've had issues where certain merchants asked me to confirm identity by sending copy of utility bill for address I had on PayPal account. I thought my address is private so sent a bill for my siblings house where I also paid the bills for internet, but they reported that address is not same with PayPal, so I argued a bit but eventually had to send one for correct ad…
That doesn't seem too weird to me. Wouldn't most merchants necessarily have your address in order to provide services to you (shipping would definitely require it, for instance).