Aren't there already many competitors to Paypal? They're not as well-known, but I don't think starting another web payment service is a very good business plan.

Aren't there already many competitors to Paypal? They're not as well-known, but I don't think starting another web payment service is a very good business plan. For example, I know Netteller has been struggling pretty much. I agree that Paypal needs a bigger competitor though. They're really making a mess of it.