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Paypal is not a scam which achieves profitability by freezing accounts. That is crazy talk. I don't know that Paypal ever achieved profitability. They raised
by randallsquared 16y ago
Paypal is not a scam which achieves profitability by freezing accounts. That is crazy talk.
I don't know that Paypal ever achieved profitability. They raised a whole lot of capital, and then when it looked like they might fold, eBay stepped in to make sure they didn't. Paypal's lack of profitability was legendary when I was in online payments, since they were the Microsoft of the industry.
- ericd 16y agoThey have achieved profitability, in dump truck loads. In the beginning, they didn't take any fees and so were burning through cash at a terrific rate, now it's around 3%, which is well above the CC processing fees for them, and miles higher than the bank ACH fees on those transactions.