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Diligence told them they’re buying a almost dead payment processor with ancient tech. Customer lists are worth something but not that much.
by rekttrader 1mo ago
Diligence told them they’re buying a almost dead payment processor with ancient tech. Customer lists are worth something but not that much.
- enos_feedler 1mo agoElon bought a dead social network and look at him go! But seriously, I log into paypal once a month to pay my landlord. I am a MAU. That is crazy. It’s more then I can say for ABNB. Maybe they should buy Paypal. Save on those transaction fees.
- darth_avocado 1mo agoThe social network is more dead than when he bought it. Wouldn’t need the an acquisition first by an ai company and then a space company to hide its worth.
- SllX 1mo agoI wish Twitter had been dead when Elon bought it, but no, Twitter was far from dead. X actually has fewer MAU as far as I can tell[1], and I wouldn’t call it dead either. [1]: Seriously though, I can’t find good data I trust on this so correct me if you’ve got a good source saying otherwise, or even if someone has something substantiating this better I would take that too.
- pjc50 1mo agoWhy can't you pay the landlord by standing order?
- sho_hn 1mo agoCurious to hear from someone who watches this space. What makes them dead? It's still the only consistently supported thing I encounter online. I'm aware things like Wero are poised to shake things up, but still have no real idea about timeline and impact.
- nostrebored 1mo agoMaybe we’re doing different things or in different regions, but I rarely see pay with PayPal now.
- anonzzzies 1mo agoLuckily I haven't for years now. But might indeed be different regions.
- qingcharles 1mo agoI see it absolutely everywhere still. We all exist in our own bubbles.
- mjrbrennan 1mo agoYes it's basically every website in Australia you can pay via PayPal now. I use it less and less since Apple Pay is available pretty much everywhere, but it can still be handy now and then.
- bokkies 1mo agoPopular in South Africa also and remains one of the very few credit card processors where you can bill in USD and remit in ZAR (no Stripe in SA)
- distances 1mo agoI see it all the time in Europe. Many German online shops have Paypal as the default payment method and may even process card payments through Paypal. Also, it's often the way people transfer money between each other.
- ifwinterco 1mo agoStill see it sometimes in the UK, but if it's there often there's an extra fee to use paypal instead of card, so I doubt many people use it. Card number is standard, with an increasing amount of places supporting Apple Pay (thankfully)
- LoganDark 1mo agoI honestly wish they could've succeeded because PayPal is one of the banes of my existence. They're one of those faceless corporations that accuse everyone of money laundering in order to steal their shit.
- anonzzzies 1mo agoThey held and stole quite a bit of money from my company when it was small 'for fraud'; it was a very hard time, and of course there was no fraud. It was a long time ago and I don't get angry anymore, but it was a nightmare and nothing you can do. Since then I moved to local processing, issuing, acquiring; I can thank Paypal for all of that. Hope they die a miserable death, but I guess 50B$ says at least the managers will drive their lambo's/yachts around no matter what happens unfortunately.
- inigyou 1mo agoOf course you can do something. You can sue PayPal.
- anonzzzies 1mo agoSuing over borders. Did I mention small company? What would it cost me, in 2007, to sue a US company from my country in europe? With what chance of winning?
- inigyou 1mo agoThey're actually a European company, or else they can't operate there. The European company is probably a subsidiary of an American one.
- anonzzzies 1mo agoStill not in my own country; I see they were in the UK back then; suing over borders inside the EU is still expensive and pretty much advised against unless it's a lot of money. It was for us, but not compared to this effort; anyway ; it was advised against back then. Maybe now it's easier.
- inigyou 1mo agoPayPal is still the default processor in so many places. That's got to be worth something. Every other time I buy something online, PayPal is the default option.
- SXX 1mo agoWhat country are you living in?
- AlotOfReading 1mo agoI see it everywhere in the US.
- meerita 1mo agoMost of the banks around the world are still running on old tech. Not so long ago I remember one was still using Cobol.
- cbdumas 1mo agoCan folks responding to this comment claiming that they see PayPal a lot provide some details? Country, industry, sector, something. I'm in the US and I basically never see it on e commerce checkout flows any more (and good riddance IMO).
- kevin_thibedeau 1mo agoIt is still common on small e-commerce sites. The ones at high risk of being hacked where you don't want them to have your card details.
- domh 1mo agoYeah this is my primary use case for using PayPal. I use it on e-commerce sites for first purchase or if it's unlikely I'm going to buy anything from the same site again.
- jen729w 1mo agoI run an online store selling e-stuff. I offer Stripe by default, and a 'use PayPal' link on the side. It accounts for about 20% of my sales. I was about to write 'overwhelmingly Europeans' and I thought I better check. Nope. Row Labels Count of Country ---------- ---------------- United States 54 Germany 12 Australia 10 United Kingdom 7 Netherlands 7
- csomar 1mo agoI don't see it as much as before but recently I had issues with paying z.ai with my card and the only payment alternative they have is PayPal. PayPal now requires an account with a verified phone number just to process your payment, so it's strictly a no-go for me. I am guessing the millions of people they have on-boarded in the last decades are what makes the business worth something.
- Steve44 1mo agoI'm in the UK and I use it a few times a month. Generally I would use it on smaller / unfamiliar websites; I may be more hesitant about entering my credit card numbers but also it's quicker and easier as I can do it without getting my card out of my bag. I also use it exclusively for eBay purchases.