131–140 of 160 posts
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You have any evidence for the claim that PayPal would keep their money in a zero interest account for some reason?
You made the claim "its a 0% loan", i'm asking you to prove that. Its not on me to somehow counter prove they aren't as I didn't make the original claim.
Ok so I know a bit about this as I had the same exact thing happen to me in the past. The reason this probably happened is that their business was getting a high % of chargebacks from paying customers, paypal is not a specialist payment provider that wants to handle what they consider high-risk business like that, so they block your account and hold your funds for 180 days and during that time keep processing chargeb…
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Many people do risky stuff against recommendations. And yes, I am aware that PayPal is particularly popular in Germany.
Every third party integration a company relies on is risky, I just take an issue with spreading FUD and calling a probably top 5 by market share payment provider only fit for hobby projects. If you are searching for Stripe or any bank you'll find an equal amount of horror stories which are of course always louder than the millions of accounts and transactions that go on without an issue.
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It's not FUD if it's true. The fact that it's popular in Germany doesn't mean that they don't randomly shut down people's accounts and access to their funds. PayPal has a long and storied history of doing this.
Search for any other payment processor and you‘ll find similar stories. These services very often work on a „block first, ask questions later“ basis. Search for „Stripe blocked“: - https://news.ycombinator.com/item?id=30705500 „TELL HN: Stripe STOLE OUR $159k“ - https://news.ycombinator.com/item?id=36967159 „Stripe is no longer a suitable payment processor“ - https://news.ycombinator.com/item?id=34614844 „Stripe Hold…
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iDeal is how all online payment should work in my opinion. The merchant only needs to know to which bank they should redirect you, and that's all. Your data and your money as as safe as your own bank is able to make them. The only downside is that it's only for Dutch consumers, and therefore international support is very spotty (Steam supports it, Lego does not). This weekend I heard a rumour that they might be makin…
As much as I like iDeal, I was annoyed when I first moved here since I came from an EU country with SEPA payments but it was really hard to buy stuff from lots of different websites. I also wonder if it keeps the barrier to entry high for new banks, etc - I would love it if I could pay for things using my wise.com account via iDeal, but I cannot.
The biggest problem to making it work for all banks is that at the moment, you need to select your bank from a list. That list is going to get enormous. The browser should probably remember your bank for you.
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It's not FUD if it's true. The fact that it's popular in Germany doesn't mean that they don't randomly shut down people's accounts and access to their funds. PayPal has a long and storied history of doing this.
Search for any other payment processor and you‘ll find similar stories. These services very often work on a „block first, ask questions later“ basis. Search for „Stripe blocked“: - https://news.ycombinator.com/item?id=30705500 „TELL HN: Stripe STOLE OUR $159k“ - https://news.ycombinator.com/item?id=36967159 „Stripe is no longer a suitable payment processor“ - https://news.ycombinator.com/item?id=34614844 „Stripe Hold…
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Not only anxiety inducing, it can actively deny the customer the thing they paid for. I've heard of events that had to be cancelled because PayPal didn't want to release the money. PayPal making the chargebacks a self-fulfilling prophesy.
Your example is where naive business hits the wall of reality. Collecting money for events is the archetypal high risk credit card processing business. You get to spend all the money in advance, while the processor holds your chargeback liability that will only come due after your cash flow dries up Every processor mentions this in their t&c. Events require special underwriting.
He got his account reinstated - https://twitter.com/dannypostmaa/status/1757411996989825200
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Exactly this. If you want to kill a competitors iOS app it's a well-known blackhat route, and testified to here before: https://news.ycombinator.com/item?id=343060 In this case a competitor used fake accounts and stolen credit cards to buy a competing app to get it delisted - Apple's apparent policy once the chargeback total hits some arbitrary figure. Edit: Immediately downvoted for no reason. Catching these sort of…
You linked the wrong comment. I should like to read the right one.
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Your example is where naive business hits the wall of reality. Collecting money for events is the archetypal high risk credit card processing business. You get to spend all the money in advance, while the processor holds your chargeback liability that will only come due after your cash flow dries up Every processor mentions this in their t&c. Events require special underwriting.
The real problem is that the possibility of chargebacks makes every transaction uncertain. Chargebacks are an ugly fix to a broken system. Direct payment is better in nearly all situations. The one exception being dishonest merchants, but I don't think that's something you can really fix without lawsuits and/or police.
That's a unique situation because the event organizer (or kickstarter inventor, or travel agent, etc) needs the money now to invest in something they may not be able actually provide. That isn't dishonesty, but a question of competence plus the uncertainty of life.
Those types of businesses rely on loans. The money has to come from somewhere, and be spent before the product is delivered. A payment processor is not in the business of giving loans.