PayPal penalised for 'deceptive' practices • Hacker News Board

Re: PayPal penalised for 'deceptive' practices

#221

Post by nish1500 » Fri, May 22, 2015, 9:01 AM UTC

tim333 wrote: post #179

nish1500 wrote: post #138

Earlier quoted context omitted.

I am paying my payment processor 10% - 15% of each transaction in processing and cross border fee, because, I am told: 1. They are small, and don't get good exchange rates 2. My location makes for a long money route, so I pay between 4% - 8% in cross border fee on every transaction The above fee doesn't even include the final transaction and conversion fee when I withdraw the USD balance to my home currency. From whe…

Transferwise when I just looked only charge 1% off interbank for USD to INR. Maybe use Stripe (2.9% + 30¢) for USD and then that?

Stripe isn't available in my country.

Re: PayPal penalised for 'deceptive' practices

#222

Post by soft_dev_person » Fri, May 22, 2015, 10:43 AM UTC

zyx321 wrote: post #213

sillygoose wrote: post #208

Earlier quoted context omitted.

Why? Is the govt forcing you to do all of that, or is there another reason for it?

I'd bet it's somehow related to losing thousands of dollars per month in fraudulent Paypal chargebacks...

I would never go so far to purchase anything. If this is the situation, just stop using PayPal for payment processing!

Re: PayPal penalised for 'deceptive' practices

#223

Post by Moru » Sun, May 24, 2015, 7:16 PM UTC

jahewson wrote: post #125

Moru wrote: post #26

Earlier quoted context omitted.

I once ordered some things together with a few friends. The total sum ended up around $3500, much more than I usually buy for. The buy went through and the company got the message from Paypal that everything was ok and the money was on their account. Sadly they had a vacation day (small home-run company) and did not send the items directly. Two days later when they were back, Paypal had just pulled the money back fro…

Huh? This story doesn't really make much sense. PayPal don't charge investigation fees, don't cancel orders after two days (how would they even know to do this?) and don't allow fees to be passed on to customers ("$100 cheaper").

Yes, how would they even cancel an order with another company? What are you talking about? I have never claimed that they canceled my order.

They do however own the money on your account as long as you keep the money on your paypal account. They had just pulled the money back from the sellers account and gave it back to me again (much later). At that time the SEK->UK pounds exchange rate was much lower and the bank transfer usually ends up a few percent cheaper that paypal too.

Re: PayPal penalised for 'deceptive' practices

#224

Post by Moru » Sun, May 24, 2015, 7:18 PM UTC

tehwebguy wrote: post #142

cmdrfred wrote: post #70

Earlier quoted context omitted.

$20 in 'investigation fees'? can anyone confirm this? I won't use them again if true.

Spent a lot of time working with PayPal, never heard of this. I've also used their dispute process on both sides. Something else happened here, a 2 day dispute process is not a standard PayPal dispute.

It was not a two day dispute, they just pulled back the money after two days and then I had to wait for a very long time to get the money back.

Re: PayPal penalised for 'deceptive' practices

#225

Post by gress » Tue, May 26, 2015, 3:06 AM UTC

geomark wrote: post #195

lawnchair_larry wrote: post #194

Earlier quoted context omitted.

The end result is the same. It's just like using a stolen card.

That's right. ApplePay does nothing to mitigate the credit card fraud problem. And until banks get better at verifying a stolen card isn't being loaded into ApplePay the problem is actually much worse.

ApplePay does a huge amount to mitigate the credit card fraud problem for it's users. The fact that it can be used to process cards stolen others is irrelevant.