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Operating a bank, lending, and money transfer operations in so many countries requires an incredible amount of behind the scenes work. Plus all the KYC, suppor
by celestialcheese 4y ago
Operating a bank, lending, and money transfer operations in so many countries requires an incredible amount of behind the scenes work.
Plus all the KYC, support, fraud, and infrastructure to support all those roles.
You wouldn't know it based on how terrible their support is, but that 28k number doesn't shock me.
- fumblebee 4y agoTo be clear, PayPal is not a bank. But they will absolutely perform everything you mentioned here, and I agree with your assessment.
- PartiallyTyped 4y agoStarbucks isn't a bank either, but they also kind of are [1]. https://www.youtube.com/watch?v=mr039xnco-8 https://www.youtube.com/watch?v=mr039xnco-8
- joshuaissac 4y ago> To be clear, PayPal is not a bank. PayPal is a bank in the EU and has a banking licence from Luxembourg's CSSF.
- fumblebee 4y agoI stand corrected!
- zinekeller 4y agoIn the US, yes (in most cases PayPal is legally a money transmitter), but as sibling comment pointed out this is not necessarily the case in other countries with stricter legislation.