151–160 of 178 posts
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PayPal is protected in so many ways, it's not even funny. I have no idea how someone would disrupt their model. Wrap them. My guess is that fewer than 1% of PayPal transactions go awry, and that PayPal renders it difficult or impossible for the injured part to recover their loss in perhaps 1% of those transactions. If there is in fact any real, widespread dissatisfaction with this state of affairs, then you could set…
So, what you're suggesting is basically a PayPal insurance policy? :)
The biggest problem I see is that the only people who buy insurance will be the ones who are most at risk of needing it...
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From what I read about some of their early troubles, some of the thieves trying to use the system were anything but petty.
Do you have a link? I'd really like to read more about that.
[1] Former PayPal marketing executive
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Hi Jacques, as someone who's had trouble with Paypal, what stops you from using, say, WePay in place of PayPal? I just wanted to understand your thought process regarding this?
I can't speak for Jacques, but as a fellow european, the single one thing stopping me from using WePay is: (lack of) international payments. I've just integrated PayPal in my startup against my own better judgement, but as soon as we pull in a fixed amount of money (1000$ for now), I'm switching to a decent merchant-based solution.
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And for that privelege you've got to pay big bucks in monthly account fees, pass the 'merchant application' process and pay a percent on top of all your transactions. You'll also have to setup a credit card processing system and secure all those credit card details you've been collecting on your site. Good luck with getting an online-only merchant account as a new company with no trading history, because it's not goi…
I agree, but I think you exagerate. Banks are often harder to work with. But, since they are the alternative (actually businesses often have both) most businesses I know deal with, it's worth comparing them. It's not that hard to get an account, especially if you already exist as a customer, even a private one. The costs tend to even out over a certain volume but again, they aren't that high. I'm not sure how easy it…
That's a good point actually. Maybe the anti-PayPal meme might die a little if you could actually get preferred service (and not frozen accounts) if you have a history of processing payments over a certain level. They already know who that is because they give you better pricing for volume.
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I can understand that some security measures are required, but I moved away from paypal because after being locked very easily it's then really hard and painful to show that your account is legit. Especially when all you get are automatic responses to your emails.
What happens when you called them?
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"International wire transfers are a lot harder to do without actually visiting a branch of the bank I'm with and filling out a bunch of forms, and they take much longer to process too." That's my personal problem too. Sending money from US to Canada or Canada to the US is a pain. If only they had the same check clearance system, it would solve so much. Same as how having similar phone numbers makes it so much easier.
Heh. jacquesm lives somewhere that doesn't even have checks! When I needed to get paid by a Dutch company, the easiest solution turned out to be for me to open a new bank account.
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I agree, but I think you exagerate. Banks are often harder to work with. But, since they are the alternative (actually businesses often have both) most businesses I know deal with, it's worth comparing them. It's not that hard to get an account, especially if you already exist as a customer, even a private one. The costs tend to even out over a certain volume but again, they aren't that high. I'm not sure how easy it…
>With paypal you don't get what you pay for. If you transact $7.22 per year you get the same service as $722k. That's a good point actually. Maybe the anti-PayPal meme might die a little if you could actually get preferred service (and not frozen accounts) if you have a history of processing payments over a certain level. They already know who that is because they give you better pricing for volume.
Banks' solution to this sort of thing is low tech. Have a local banker talk to you, maybe pay a visit.
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If you want to be nitpicky, gorillas aren't monkeys. edit: Really, people? You modded me up to 17 for making a nitpick about simian taxonomy?
Ook, ook.