2 ms·
PayPal wants to run around and be bank-like, but not really a bank. I agree this is true, but I say so in a completely neutral tone, devoid of any judgment. Ru
by raganwald 16y ago
PayPal wants to run around and be bank-like, but not really a bank.
I agree this is true, but I say so in a completely neutral tone, devoid of any judgment. Running around and being X-like but not really an X is the entire point of creating disruptive products and services. For example, Amazon wants to run around and be bookstore-like, without really being a bookstore.
This is obviously bad when they do bad things, and good when they do good things. But it's really the heart of the value proposition for a disruptive service.
- sandGorgon 16y agoThis is not entirely true - in the U.S., Paypal does ask for a SSN for large transactions, etc. India's equivalent KYC (know your customer) norms for using the PAN card are not followed. This is more of an anti money laundering thing than anything else. And in India's case, it is more often than not used to fund terrorist cells.