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Anyone else read the 2nd to last paragraph and giggle a bit: >to get the opportunity to work on projects that will accelerate innovation at a scale that’s just

• maratd 14y ago
  They haven't done anything innovative since they were acquired by eBay. Well, unless you consider freezing accounts and confiscating funds an innovative activity.
  • dangrossman 14y ago
    Since being acquired by eBay they: * Lowered transaction fees for volume merchants from 2.2% to 1.9% * Partnered with many of the largest payment gateways to add PayPal to their services * Introduced PayPal mobile and NFC phone-to-phone payments * Introduced micropayments * Introduced two-factor authentication * Got their European Union banking license and expanded to 100+ countries * Began offering PayPal Buyer Credit (transactional lines of credit) * Moved into retail stores, accepting PayPal at credit card terminals in-store * Began offering a mobile card reader to accept payments into a PayPal account * Introduced student accounts with parental controls * Opened their API for development of peer-to-peer payment services * Introduced virtual, one-time-use credit card numbers * Began offering merchant gift certificates * Introduced a "storefront widget" that could be embedded in websites * Began offering SMS-based authentication * Began offering a virtual terminal for manually keying in offline/phone orders * Introduced PayPal Pro and the ability to store payment authorizations you can charge against in the future (i.e. a payment vault with permission controlled by the customer).
    • deleted 14y ago
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    • rationalbeats 14y ago
      All those things are great, but I stopped using them when I realized they can freeze my money, or remove money from a linked checking account for whatever reason they decide and I have almost no recourse except to hire a very expensive lawyer or hope I can start a viral campaign about my money being stolen by Pay Pal. And since they are not a "bank" they are not regulated by the same laws as other banks, and credit cards. Bottom line, they lost my trust, and nothing that you have listed regains that trust for me.
      • dangrossman 14y ago
        That isn't a PayPal thing, it bubbles up from the banks underwriting every PayPal account (Wells Fargo and Chase). It's standard practice in the regulated banking industry, not a sign of a lack of regulation. My real merchant account, at a company many startups probably use to accept their payments, was flagged as high risk at one point when a string of chargebacks came in from stolen cards someone used over the course of a month. All my processing was funneled into a reserve account and those funds, thousands of dollars, were held for exactly 180 days (6 months), as that's the window in which chargebacks can still occur from previously processed payments. If you hold this opinion against PayPal, then you should hold it against the entire credit card processing industry. It stems from the root: Visa and MasterCard's Operating Regulations.
        • mfringel 14y ago
          The fact that you knew they were held (and would be held) for exactly 180 days puts them above PayPal.
          • dangrossman 14y ago
            PayPal holds funds from a suspended account for exactly 180 days. It's the same policy because it comes from the same source. > We may close, suspend, or limit your access to your Account or the PayPal Services, and/or limit access to your funds for up to 180 Days if you violate this Agreement, the PayPal Acceptable Use Policy, or any other agreement you enter into with PayPal -- PayPal User Agreement
    • codexon 14y ago
      * Introduced virtual, one-time-use credit card numbers Where is it?
      • dangrossman 14y ago
        It was discontinued after about 4 years.
        • codexon 14y ago
          Well that's my point. Not only was it unoriginal, but it was discontinued.
          • dangrossman 14y ago
            A payment method that: * Can be used on any website that accepts credit cards * Cannot be used to sign you up for a subscription through scams or hidden terms * Cannot be charged more than the amount you intended to spend * Can be set to expire after a short time * Can be funded by bank transfer, eCheck, credit card or funds through selling items on eBay or your own website * Is available instantly with just a few clicks ...was absolutely both unique and innovative. It existed nowhere else and offered compelling benefits. And they ran with it for 4 years. Innovative does not mean guaranteed to succeed, be profitable, and stay around forever. Either you're not very imaginative when considering what it took to create this offering, the risks and costs involved, and what benefits it implied, or you have a petty bias against anything attached to the PayPal name. Either way, you've made no point.
            • codexon 14y ago
              You seem to be a Paypal fanboy. Paypal was not the first to invent disposable credit cards. http://news.cnet.com/2100-1017-245428.html http://news.cnet.com/2100-1017-245428.html So you were saying?
              • dangrossman 14y ago
    • deleted 14y ago
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