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German cartel office initiates proceedings against PayPal
- durnygbur 4y agoHow is the Wirecard investigation going? They'll get overwhelmed with the workload...
- dewey 4y agoThe cartel office is working financial fraud cases these days?
- wasmitnetzen 4y agoWhat does the Cartel Office have to do with Wirecard? That's BaFin's (and the courts') business.
- johannes1234321 4y agoAh the good old whataboutism. (Wirecard is being investigated by relevant authorities, but unrelated to cartel office looking at others)
- mschuster91 4y agoThe criminal investigation has been finished, Markus Braun and others have been sitting on trial since last December [1]. The political investigation by a special parliamentary committee has also been finished since mid 2021 [2]. The only one still running free is Jan Marsalek, probably he's being protected by Russia. [1] https://www.tagesschau.de/wirtschaft/wirecard-markus-braun-prozessbeginn-101.html https://www.tagesschau.de/wirtschaft/wirecard-markus-braun-p... [2] https://www.bundestag.de/dokumente/textarchiv/2021/kw25-de-3ua-bericht-847030 https://www.bundestag.de/dokumente/textarchiv/2021/kw25-de-3...
- qikInNdOutReply 4y agoThere have been zero repercussions for government officials, yearning for a software giant in the GigantFAMily. And the fraudster swarms know that the honeydew of hope is still dripping, though hurt by reality not giving way. Germany just cant get its stuff together softwarewise. Would be better off, to subsidize die polish/chechoslovakian software giants and have them grow into germany. They are doing something right over there.
- lnsru 4y agoI love PayPal. It might be another be-evil type corporation. But it is just sooo convenient. I am just curious if there is some alternative to it in Germany. I don’t want to give my bank account number to every random online shop. Credit card yes, but I am too lazy for entering the numbers every time. Edit: I am not kenn on saving my credit card number somewhere digitally. Browser, password manager or a text file are not my preferred options.
- varispeed 4y agoHaving to enter my card details have often stopped me from doing unnecessary purchase. That being said I memorised most of my cards and it takes not much longer for me to fill in a card payment form than log in to PP.
- aaaaaA3 4y agoYour browser doesn't save your card information?
- fuzzy2 4y agoThere’s PayDirekt, the would-be homegrown PayPal alternative. Only nobody cares.
- lnsru 4y agoThank you, I will check it.
- Daniel_sk 4y ago1Password (or even plain Keychain) can auto-complete all your debit/credit card numbers. But yes - I prefer not to type it in. For security reasons I am only entering cards directly if the website is using a bank payment gateway. Otherwise I am just generating a random one-use debit card through my bank app.
- gempir 4y agoIt's just very nice layer of abstraction. I don't want every shop I buy from to know which Bank I use or my credit card number, because that's sensitive information. Also when my credit card number changes because my bank randomly decides I'm at risk for fraud I have to login to every service and enter my new CC. In 10 year of Paypal usage I have never once had an issue with my account being locked. Yes there are some cases here and there of people, but personally I didn't have that problem and I just it a lot also for Craigslist etc. Never an issue. I didn't even have to contact Paypal support once. And since it's very popular in germany almost everyone online has to support it or they are losing business.
- hammon 4y ago[dead]
- cgeier 4y agoFrom the article: "The regulator is investigating in particular rules that say merchants may not offer their goods and services at a lower price to customers who choose a cheaper payment method than PayPal." That does sound rather uncompetitive.
- em-bee 4y agoisn't that the same as credit cards not allowing to charge extra for using them? which btw is now also not allowed by EU rules.
- cgeier 4y agoTrue. Also sounds uncompetitive to me.
- em-bee 4y agobut this is what the EU seems to want. based on EU regulations surcharges at least for credit cards are illegal. the price for the consumer must be the same. for some reason it does not cover paypal though.
- orf 4y agoBecause the member states of the EU, and countries in general, want a paper trail. This reduces lost taxes due to underreporting. As such it would be foolish to allow shops to deincentivise that
- BrandoElFollito 4y agoI do not think it was ever allowed. EDIT: I did not realize you were talking specifically about Germany. In France you had a lot of "minimum 10€ to pay with CC", now this is mostly gone after COVID.
- QuarterReptile 4y agoI think that rule disappeared long ago in the US because apparently people spend more with CC.
- dna_polymerase 4y ago[flagged]
- adventured 4y agoRinse and repeat for every major tech segment you fail to compete in.
- flumpcakes 4y ago> major tech segment you fail to compete in I see it more as protecting citizens from predatory and monopolistic tech giants. I would rather live with the EU laws than anywhere else.
- pancrufty 4y agoLet me know how many merchants in the US actually use PayPal with glee. I only hear horror stories from every count so maybe something is fishy and it’s about time someone starts looking. Maybe. But no, it’s just the usual EU who can’t compete instead.
- TheLoafOfBread 4y ago3. Everyone starts using debit cards (which actually works in Europe, unlike my experience with BBVA in USA), PayPal slowly disappears into obscurity. 4. No profit.
- brnt 4y agoActually, I would hope SEPA QR would replace American cards altogether. Cut out the middle men, we dont need them. Tech is all there.
- suction 4y ago[dead]
- oaiey 4y agoOr in other words: A US company thinks the local requirements are not relevant to them, squeeze an amount of the GDP out of the countries and then complain that the locals complain? No fee applied could ever get the money back lost before. When you want to look into how anti-globalization works, then look at Washington or Peking. Europe, due to its multi-tier law structure, is an amateur compared to these. The only reason why you are bothered by it, is that the European market is too big to be ignored and there are impacts like the GDPR etc.
- SeanLuke 4y ago> The regulator is investigating in particular rules that say merchants may not offer their goods and services at a lower price to customers who choose a cheaper payment method than PayPal. In the US this is standard behavior for credit card companies (and is reprehensible). Is it not the case in Germany?
- em-bee 4y agomore than that, based on EU regulations, charging extra for credit-card use is now illegal in germany. but confusingly this law does not apply to paypal transactions
- SeanLuke 4y agoWait, charging extra for credit card use is illegal?
- jordanrobinson 4y agoSure, I don't know the details about Germany but I'm pretty sure it's the same in the UK. https://www.gov.uk/government/news/card-surcharge-ban-means-no-more-nasty-surprises-for-shoppers https://www.gov.uk/government/news/card-surcharge-ban-means-...
- lxgr 4y agoYes, which makes some sense given that the EU has also capped interchange to 0.3% for credit cards.
- edgyquant 4y agoIt’s standard now but not the law as lots of places do charge a fee. Id actually even say it isn’t standard, as a lot of court houses charge a processing fee when you use a card over cash (or did before the pandemic, haven’t been to one since)
- lxgr 4y ago> It’s standard now but not the law In fact, surcharges are now prohibited by EU law (as long as the card is covered by the interchange cap): https://europa.eu/youreurope/business/finance-funding/making-receiving-payments/electronic-cash-payments/index_en.htm https://europa.eu/youreurope/business/finance-funding/making...
- up2isomorphism 4y agoI only heard about Mexican cartel.