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A failure of security systems at PayPal is causing concern for German banks

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Re: A failure of security systems at PayPal is causing concern for German banks

#191

Post by perlgeek »

seb1204 wrote: post #114
hirako2000 wrote: post #6

What's so specific to German banks ?

Germany seems to actively resist to modernize on all electronic fronts. Banks still charge you for transactions and they take 24hrs plus while in other countries they are free for private accounts and within seconds. This lack on the market has made unregulated services such as PayPal big.

I've been doing online banking with German banks since at least 2002, and never payed a single cent in fees for transfers.

Funnily enough when I spent some time in Scotland in 2007 I opened a local bank account there, and OMG:

* they charged a fee for receiving a SEPA transfer from Germany

* they didn't give me a debit card or credit card, all I could do was withdraw money at the ATM or pay with paper-based cheques (!)

* when I asked them how to transfer money to my university, they looked at me quiet shocked and said "but their account is at a different bank!". The bank teller there didn't even know if they supported cross-bank money transfers, and had to ask a colleague. Turns out they did, but at exorbitant fees (25 GPB, iirc)

German banks aren't as modern as I'd want them to be, but transaction fees aren't a practical problem for most of us.

Re: A failure of security systems at PayPal is causing concern for German banks

#192

Post by xjrk58x »

I got once my PayPal account blocked due to negative balance, but there was no transaction in the history and not even customer support was able to tell me why my account went to minus. They even sent me fairly threatening email and the whole process felt like a scam attempt.

Later on I found out that it was due to a bounced transaction 3 months earlier, but the fee for bounced transaction was not reported anywhere and my PayPal account balance just got changed to -5 eur. I've closed my PayPal account directly right after this incident and never used PayPal again.

Re: A failure of security systems at PayPal is causing concern for German banks

#193

Post by mannycalavera42 »

hk__2 wrote: post #83
altairprime wrote: post #53

Earlier quoted context omitted.

You can email the mods and ask them to do so. Footer contact link and mention “FP #x” somewhere in the subject.

What’s "FP" for?

Furry Platform

Re: A failure of security systems at PayPal is causing concern for German banks

#194

Post by Nekorosu »

I'm a victim of such a fraud. It started gently on LinkedIn and ended up on http://fiverr.com that exploits PayPal to extract money from unsuspecting clients. I paid for CV editing service that was never provided. 60 euros gone and PayPal just accepts sellers side of the story.

http://fiverr.com is a scam. Don't use it. PayPal's support is a joke.

Re: A failure of security systems at PayPal is causing concern for German banks

#195

Post by pvtmert »

chatmasta wrote: post #110
raphman wrote: post #87

Earlier quoted context omitted.

Better link: https://www.heise.de/en/news/Paypal-German-banks-apparently-...

Maybe it’s a better link, but I can only read the content if I accept their sharing my data with 180 partners.

I default to the Reader mode (Safari/Firefox) such a blessing to stop any/all videos, sounds, ads, and popups.

Putting the "text" back into HTTP, hyper text transfer protocol.

Re: A failure of security systems at PayPal is causing concern for German banks

#196

Post by qznc »

mastermage wrote: post #160
fweimer wrote: post #11

Earlier quoted context omitted.

The existing giro system is the real Paypal competitor. Most Europeans had access to Paypal-style money transfers before they had email. Merchants probably want to rely on another party to maintain their integration, but there is no real need for another centralized service similar to Paypal. (The U.S. really is an outlier among developed nations in that its giro system is not widely used, and many residents would no…

Wero is actually built to sunset Giro in the EU. Its built on top of Giro as to leverage the well working network but gives more convenience.

This is the first time I hear of „sunset“. Afaik it just is a layer on top and that’s it.

Re: A failure of security systems at PayPal is causing concern for German banks

#197

Post by addandsubtract »

hk__2 wrote: post #83
altairprime wrote: post #53

Earlier quoted context omitted.

You can email the mods and ask them to do so. Footer contact link and mention “FP #x” somewhere in the subject.

What’s "FP" for?

Fix Pls

Re: A failure of security systems at PayPal is causing concern for German banks

#198

Post by ta12653421 »

pbmonster wrote: post #66
fweimer wrote: post #11

Earlier quoted context omitted.

The existing giro system is the real Paypal competitor. Most Europeans had access to Paypal-style money transfers before they had email. Merchants probably want to rely on another party to maintain their integration, but there is no real need for another centralized service similar to Paypal. (The U.S. really is an outlier among developed nations in that its giro system is not widely used, and many residents would no…

> The existing giro system is the real Paypal competitor. Most Europeans had access to Paypal-style money transfers before they had email. Not at all, not even close! In most cases, that's wrong even today. Want to sell something online? A book you wrote, a game you made? There's no way for people to pay you via giro and automatically receiving the good on the page where the payment process was initiated. Giro is not…

Not quite exactly:

There was a earlier competitor much better than PayPal, called Giro-Pay: https://de.wikipedia.org/wiki/Giropay

It had all the stuff PayPal had at launch, also some of the feature made it into the eventually-died "Paydirekt" (which also died)

The main reason could be the high fragmentatin across the EU market.

Though, WERO, now we have a new appraoch, this time with support von ECB :-D

Re: A failure of security systems at PayPal is causing concern for German banks

#199

Post by ta12653421 »

pantalaimon wrote: post #89
pbmonster wrote: post #66

Earlier quoted context omitted.

> The existing giro system is the real Paypal competitor. Most Europeans had access to Paypal-style money transfers before they had email. Not at all, not even close! In most cases, that's wrong even today. Want to sell something online? A book you wrote, a game you made? There's no way for people to pay you via giro and automatically receiving the good on the page where the payment process was initiated. Giro is not…

> Giro is not instant, and almost no bank will offer an API that signals that a specific customer has transferred funds successfully. And because of that we have leeches like Sofortüberweisung. They basically proxy the web interface of your bank and you'll give them full access to your account, so they do the transaction for you by scraping your banks web interface (and your transaction history) and report success to…

not any more: most of these Payment-Initiation-Services (PISP in EU-speach) do use the public PSD2 apis these days. In the dark beginning days, it was scraped, yes.

Re: A failure of security systems at PayPal is causing concern for German banks

#200

Post by ta12653421 »

red_trumpet wrote: post #21
fweimer wrote: post #11

Earlier quoted context omitted.

The existing giro system is the real Paypal competitor. Most Europeans had access to Paypal-style money transfers before they had email. Merchants probably want to rely on another party to maintain their integration, but there is no real need for another centralized service similar to Paypal. (The U.S. really is an outlier among developed nations in that its giro system is not widely used, and many residents would no…

> Most Europeans had access to Paypal-style money transfers before they had email. Bank transfers were not instant though, they usually took a work day. This is changing with the introduction of instant transfers, which become mandatory to support this year, and are also not allowed to be more expensive since this year also.

But the merchant got a signal that the money is on the way, so it was quick enough for them to sent out the package.
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