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Looks like the user must have a Paypal account. From the Tipjoy FAQs: Click it, and from there you can cash money out of your Tipjoy account into your PayPal
by matt1 17y ago
Looks like the user must have a Paypal account.
From the Tipjoy FAQs:
Click it, and from there you can cash money out of your Tipjoy account into your PayPal account. You can also give your money to another website (a charity, maybe?), or have us turn it into an Amazon gift card for you. For legal reasons, if you're going to cash out to PayPal you'll need to tell us a bit of info about yourself (name and address), which we will keep private in accordance with our Privacy Policy.
Anyone know how they deal with the money laundering problems? And if they're using Paypal to transfer the money, how do they have smaller fees than them?
- brk 17y agoAnyone know how they deal with the money laundering problems? I do not, but this is the Internet, so I can speculate wildly :) Tipjoy seems to be focused on micropayments. Unless you are only trying to launder $5 or $10, it would take a metric fuckload of "tips" to launder any significant amount of money. I would presume (which sounds so much more highbrow than assume) that it would be simple to look to filter out and flag potential laundering schemes. Either the average amount of tip, or the average # of tips between two users would be obvious outliers.
- mahmud 17y agoWhat you describe (large amounts of small payments to one user) is called smurfing, and both banks and paypal have something in place to guard against it. One "benefit" of requiring Paypal is that you're offloading the responsibility of final delivery to them. http://en.wikipedia.org/wiki/Smurfing_(crime) http://en.wikipedia.org/wiki/Smurfing_(crime)
- noodle 17y agoaccounts that deal with higher volume in processing get lower fees. this is the case with most places. i imagine they're using paypal because its a bit easier to do account-to-account stuff with them, based on my (limited) understanding.