61–70 of 249 posts
PayPal is going cPanel route. It should be replaced and never look back. Those, who can't control their greed are doomed to see the void of ignorance.
Can you elaborate on what you mean by “cPanel route”?
Earlier quoted context omitted.
You can only transfer to a number, you can't (easily) charge back already effectuated transfer, nor can you (with a consumer account) debit a number. All of these things are covered. Buyer protection has rarely been something one needs. Some (many nowadays?) banks offer insurance for this.
>Buyer protection has rarely been something one needs. I disagree, I think it is the biggest factor. I used it several times and I know other people who have too. >you can't (easily) charge back already effectuated transfer I promise if you try to do something involving bank transfers without doing some form of 'Know Your Customer' you'll get people try to use bank accounts that are compromised in some way. You'll be…
You probably think that because of the insecure nature of the alternatives you're familiar with. It simply doesn't occur that much, fraud, and when it does, the recourse options you have seem to work. Take a closer look!
> KYC
Yes, and this has increased over the past few years. An account number can't be private, in fact, many banks double check the name of the owner before they let you transfer (they'll show you the mismatching name).
When I moved to the Netherlands, I was at first irritated that my credit cards weren't accepted anywhere. But as the debit (maestro) card transactions are often free [1], paying 3%+ to a card service does seem exorbitant. For online payments, the Dutch use the IDEAL system, which is even easier than online credit cards. This also prevents vendor lock-in, like Amazon. And, the banking apps make it super easy to send m…
Earlier quoted context omitted.
I don't know if they support it for accounts that are receiving contributions instead of payments (and I have no clue what is going on now with this new change today: I need to research this), but PayPal has also offered a "micropayments" tier that costs 5%+$0.05 instead of the 2.9%+$0.30, which is much better for small transactions. You had to activate it with customer support, though.
> You had to activate it with customer support, though. I wonder why that is. Are they offering this service at a loss? If not, why not offer it to everyone automatically?
Earlier quoted context omitted.
All this, and all that other Silicon Valley financial infra, because direct bank tranfers are (presumably?) not known or difficult or impossible. From my northwestern European perspective, it's weird this straightforward solution that we've had since, well, the fifties? is overlooked.
There's no way to do peer to peer direct bank transfers in the US. Also, in the US, credit card providers accept all liability for fraud, as a consumer there's no way you will ever lose money to credit card fraud.
This was actually announced in a easy to miss email with the subject "Upcoming change to your account" sent on June 30 2021. It did get a little press that day but on the fee increase day I saw little reporting. These changes went into effect on August 2nd 2021. Here is a PDF that has a breakdown showing all the changes that happened that day [1] To PayPal's credit, this was their first rate increase in a very long t…
I blame the increased cost of compliance. And also the fact that they are one of the few established and widely accepted payment / transfer systems, so their customers aren't going to flee in droves.
When I moved to the Netherlands, I was at first irritated that my credit cards weren't accepted anywhere. But as the debit (maestro) card transactions are often free [1], paying 3%+ to a card service does seem exorbitant. For online payments, the Dutch use the IDEAL system, which is even easier than online credit cards. This also prevents vendor lock-in, like Amazon. And, the banking apps make it super easy to send m…
Everything is not so much more expensive in the US, not the least because this is dwarfed by the difference in VAT. Not that I am in any way in favour of the current duopoly in credit card payments.
It's about whether or not we should pay a 3+% cut to the payment processor when there are clearly other options.
Nothing in this world is free, question is who pays for it and how much.
Of course US credit card transaction fees also fund cashback and other reward systems
PayPal is awful for small transactions, I regularily get donations for my projects that are literally 0 USD, because all of it is eaten away by PayPal fees, and even for a 5 USD donation you end up losing around 15% of the transaction amount. Do you know of any other service that is suitable for microtransactions, besides cryptocurrencies?
They don't take fees but you can make donations to help them.
When I moved to the Netherlands, I was at first irritated that my credit cards weren't accepted anywhere. But as the debit (maestro) card transactions are often free [1], paying 3%+ to a card service does seem exorbitant. For online payments, the Dutch use the IDEAL system, which is even easier than online credit cards. This also prevents vendor lock-in, like Amazon. And, the banking apps make it super easy to send m…
edit : according to the document, ING charges € 0,25.
When I moved to the Netherlands, I was at first irritated that my credit cards weren't accepted anywhere. But as the debit (maestro) card transactions are often free [1], paying 3%+ to a card service does seem exorbitant. For online payments, the Dutch use the IDEAL system, which is even easier than online credit cards. This also prevents vendor lock-in, like Amazon. And, the banking apps make it super easy to send m…