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The reason that PayPal survived and is still around is because they took a very risk averse attitude and pro-actively try to combat fraud. Most of their competi
by ig1 17y ago
The reason that PayPal survived and is still around is because they took a very risk averse attitude and pro-actively try to combat fraud. Most of their competitors didn't fail because of lack of customers, they failed because they couldn't handle the fraud.
If you want to get a more detailed view of the issues have a read of the interview Max Levchin gave to JL in Founders at Work.
- pierrefar 17y agoThere is a big difference between aggressive fraud protection and pooping on your customers. Being polite and handling mistakes intelligently doesn't mean they can't combat fraud effectively.