141–150 of 536 posts
Niteo produce a product to produce content farms and generate spam. PayPal has done the world a favour by banning them.
Founder here. We're not processing SaaS through PayPal, as mentioned in the post: > The most interesting thing is that we’ve moved away from PayPal in the last two years and have only been receiving some minor payments and paying for a few online services. We've stopped using PayPal for our SaaS business a few years ago.
This and similar behavior is what ultimately drives people toward decentralized solutions, like Bitcoin for example.
HN is traditionally anti crypto, but just want to point out that literally no one in this world can stop you accepting Bitcoin payments. That's the true power of decentralization.
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> And yes, their decision is always final. Perhaps their decision to close your account is always final, but don't lose all hope after having your funds frozen. I had 25-100k frozen (can't remember how much), and picked up the phone and called them and it was unfrozen within 48 hours. Paypal is god-awful though and should be used as little as possible.
There are lots of horror stories about Paypal, but there is an obvious problem, nobody is going out of their way to write a blog post about how Paypal always worked for them. You can find pretty much the same horror stories about any Bank or credit card company.
For me as a customer, having PayPal as payment option increases the propability of purchase. Especially with one-time purchases from small vendors. Reasons: No risk of credit card info misuse (by vendor), I only need username and password and I get certainly at least some kind of receipt for accounting.
I’m always surprised as to why people are concerned about card details misuse. You are not responsible for card-not-present fraud (without 3D Secure). You can dispute any fraudulent charge with your bank, and I’d bet good money the bank has actually better customer service in that regard compared to PayPal.
The last time I had to deal with card fraud, my bank was extremely reasonable to work with and didn't hesitate at all when disputing the charges. But the process can still be fairly annoying. Having to wait for the card to be replaced, having to move any auto billpay using that card to another, etc.
With very few exceptions, if the merchant isn't using a decent external payment platform, you might as well be posting your credit card information on Hacker News. I'd much rather run my card information through PayPal if that is the only option other than entering card information on the merchants dodgy website.
Most banks can be decent to deal with, and one can certainly take steps to mitigate the impact of it when it does happen (Like not using your debt card for purchases, ever. Using a different credit card for bill payments vs online purchases vs offline purchases, etc.) But I can understand why people would prefer to avoid card fraud when they have the option to do so.
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> And yes, their decision is always final. Perhaps their decision to close your account is always final, but don't lose all hope after having your funds frozen. I had 25-100k frozen (can't remember how much), and picked up the phone and called them and it was unfrozen within 48 hours. Paypal is god-awful though and should be used as little as possible.
There are lots of horror stories about Paypal, but there is an obvious problem, nobody is going out of their way to write a blog post about how Paypal always worked for them. You can find pretty much the same horror stories about any Bank or credit card company.
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You get banned from Uber if you do that, no?
Why would you want to stay on Uber? So they can charge you $1500 again sometime in the future?
Wait until Uber is the only option for a ride across town. Now what?
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Right, if someone says alright, put your money in this box. But then they take the box and close it and say no, you can't open it, Sorry. What does that sound more like? Frozen, or stolen?
Frozen, as long as they don't take the money either.
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Right, if someone says alright, put your money in this box. But then they take the box and close it and say no, you can't open it, Sorry. What does that sound more like? Frozen, or stolen?
Frozen, as long as they don't take the money either.
(Supposedly they don't operate fractional reserve, which means that Peter Thiel pinky-promises not to touch the principle. But it's still in PayPal commercial investment vehicles, earning away.)
Maybe that’s the real reason for the ban? PayPal might not like people not being completely reliant on PayPal, so PayPal might tend to ban those who don’t use PayPal for everything, hoping to make all potential non-PayPal users go out of business before they become large enough to be visible? Of course, this is all paranoid speculations.