Good riddance, PayPal • Hacker News Board

Re: Good riddance, PayPal

#131

Post by mratzloff » Thu, Sep 06, 2012, 5:40 PM UTC

onli wrote: post #128

mratzloff wrote: post #123

I don't think this guy realizes the extent of how correct he is. PayPal is not a bank. They are basically a giant merchant account. Wells Fargo backs them, even while they compete with them (clearXchange.com). So PayPal doesn't have to operate by the same rules. When you use PayPal, you are putting money into PayPal's bank account and hoping they act in your best interests. A reasonable person (I feel) would conclude…

That is not true in the UK, where the OP is operating in. Paypal is a bank here and subject to regulations.

Ah, I missed that he was in the UK. Thanks for pointing it out.

Re: Good riddance, PayPal

#132

Post by willyt » Thu, Sep 06, 2012, 5:40 PM UTC

reitzensteinm wrote: post #35

The customer service angle sucks, no question, and I'm worried about getting into similar trouble (I sell downloadable games via PayPal). But I actually think holding an issues worth of revenue in reserve is a decent enough compromise. If the company goes bankrupt before an issue ships, for whatever reason, PayPal themselves are going to be on the hook for refunding every single payment, as well as chargeback fees th…

Free hardcopy magazine with every PDF download purchased?

Re: Good riddance, PayPal

#133

Post by jdbernard » Thu, Sep 06, 2012, 5:49 PM UTC

h1srf wrote: post #113

Splines wrote: post #93

Earlier quoted context omitted.

> By the way, never ever use a debt card online. You're handing over access to your bank account. Are you sure about that? Visa will refund you money if your card is lost or stolen: http://usa.visa.com/personal/cards/debit/visa_check_cards_fa... My personal bank also has similar verbiage for my debit card. They also mention that internet purchases are considered non-PIN purchases and are offered the same protection.…

I repeat this almost every time this topic comes up: With a credit card, you can say that the charge was fraudulent and they will take the charge(s) off and you're not on the hook. With a debit card, you're out the money of the fraudulent charge while the bank investigates. From my personal experience, this can take a few days to 3 weeks before the bank puts the money back in your account. If the charge happens to pu…

Used to work in the industry manufacturing and programming these cards. You are exactly correct, the credit network provides more protection for the cardholder than using your debit card.

Re: Good riddance, PayPal

#134

Post by eridius » Thu, Sep 06, 2012, 6:04 PM UTC

reitzensteinm wrote: post #35

The customer service angle sucks, no question, and I'm worried about getting into similar trouble (I sell downloadable games via PayPal). But I actually think holding an issues worth of revenue in reserve is a decent enough compromise. If the company goes bankrupt before an issue ships, for whatever reason, PayPal themselves are going to be on the hook for refunding every single payment, as well as chargeback fees th…

If PayPal said they were holding the money until the magazines printed, that would be one thing. They didn't say that. They said they'd hold the money until 15 thousand pounds accrued, at which time they'd start paying out percentages. That's a whole different ballgame, and is completely ridiculous.

Re: Good riddance, PayPal

#135

Post by jellicle » Thu, Sep 06, 2012, 6:08 PM UTC

onli wrote: post #129

raverbashing wrote: post #30

Earlier quoted context omitted.

Yes, because there are no security issues in giving out a debt card number that is directly linked to your bank account.

As you can always get the money back with a simple order, it is a very minor issue.

Huh? Debit transactions are not easy to reverse, at all, and in the U.S. at least are covered by much less generous consumer protection laws than are credit card transactions.

Re: Good riddance, PayPal

#136

Post by pnathan » Thu, Sep 06, 2012, 6:10 PM UTC

Karunamon wrote: post #55

Greynum wrote: post #36

This is why Bitcoins was created.

No it isn't. Bitcoin's killer feature is anonymity. It has no underwriting, no risk prevention, and worst of all, no ubiquity. Once you pay someone with BTC, your money is gone. It's that simple. Unless you involve a third party of some kind, and then it's PayPal all over again... though I assume it's a great deal easier to become a BTC middleman than a middleman of any established currency, due to lack of idiotic go…

Actually, BTC isn't really anonymous. The record of of transactions is part of the record... all you need is to tie a person to the BTC address.

Re: Good riddance, PayPal

#137

Post by njharman » Thu, Sep 06, 2012, 6:18 PM UTC

adrinavarro wrote: post #28

tylerrooney wrote: post #27

Perhaps someone who runs their own company can answer this question for me: If you don't use PayPal, how do you receive payment from customers who don't have credit cards? Are your customers exclusively in North America? Or do you just write those customers off (which is a valid option if PayPal integration would be that painful)? Adding PayPal as a payment option has been an enormous pain for us but a non-consequent…

There are debit cards out there! In fact, everyone I know has at least one debit card (either MasterCard or VISA), aside from the number of people who have an AMEX/VISA (credit type). And debit cards work everywhere. I've used my VISA Electron (debit) pretty much everywhere in the developed world, both online and travelling abroad.

> everyone I know

News flash buddy, population of Earth > potential customers > "everyone you know".

Re: Good riddance, PayPal

#138

Post by mrb » Thu, Sep 06, 2012, 6:20 PM UTC

Karunamon wrote: post #100

Karunamon wrote: post #55

Earlier quoted context omitted.

No it isn't. Bitcoin's killer feature is anonymity. It has no underwriting, no risk prevention, and worst of all, no ubiquity. Once you pay someone with BTC, your money is gone. It's that simple. Unless you involve a third party of some kind, and then it's PayPal all over again... though I assume it's a great deal easier to become a BTC middleman than a middleman of any established currency, due to lack of idiotic go…

state-sponsored inflation ..which is just replaced with built-in inflation. At least the rate is predictable and static.

No. Bitcoin is deflationary, not inflationary. (The value of a coin increases much faster than the coin supply. About half of the 21M coins have already been generated.)

Re: Good riddance, PayPal

#139

Post by mrb » Thu, Sep 06, 2012, 6:23 PM UTC

Karunamon wrote: post #55

Greynum wrote: post #36

This is why Bitcoins was created.

No it isn't. Bitcoin's killer feature is anonymity. It has no underwriting, no risk prevention, and worst of all, no ubiquity. Once you pay someone with BTC, your money is gone. It's that simple. Unless you involve a third party of some kind, and then it's PayPal all over again... though I assume it's a great deal easier to become a BTC middleman than a middleman of any established currency, due to lack of idiotic go…

From a merchant's viewpoint, once you receive coins, NO ONE can take them away from you, which actually solves the exact problem the guy have.

Re: Good riddance, PayPal

#140

Post by ryguytilidie » Thu, Sep 06, 2012, 6:24 PM UTC

Had a similar experience with Paypal about a year ago. I reported them to the Better Business Bureau for unethical business practices and Paypals response was basically "well its not illegal so we're going to keep doing it".

Great, and I will keep not using your site, and I will keep filing complaints through every forum possible until we eventually end up on a new site and the circle of life of

useful startup--->gets an ego and stops caring about customers--->replaced by new useful startup

continues.

EDIT: The best part was they accused me of three things: 1) Being a newer member (I opened my account in 2000 so I'm not sure I agree.) 2) Not having enough account history. (In the 12 years I've been a member I tend to make 1-2 transactions per month). 3) The transaction being "abnormally large". (I get paid rent and pay rent through the account for thousands of dollars at a time, the transaction in question was for $400 dollars)

basically paypal can diagf.