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Why do you say Amazon is controlling cashflow? It looks like they offer bank transfers everyday. From the site: "Fast, reliable deposits. Deposits to your bank
by totalrobe 12y ago
Why do you say Amazon is controlling cashflow? It looks like they offer bank transfers everyday. From the site:
"Fast, reliable deposits.
Deposits to your bank account the next business day. Or spend your money at Amazon.com within minutes."
- cbhl 12y agoBecause that's not how long it takes for money to really clear a credit card when banks are involved.
- totalrobe 12y agoWell then one business day would be an improvement on cash flow vs a typical bank... or am I an idiot? Obviously it's hard to compete with Amazon on commodity products, but it seems like they are lowering the barriers to entry for many unique retailers and small businesses.
- cbhl 12y agoThe argument is that on some unspecified future date when Amazon has a monopoly, they can arbitrarily choose to hold payments for more than a day and screw up a business' cash flow and cause them major headaches. Anyone who relies on PayPal today already accepts the risk of having their account/funds frozen, and there are already many horror stories of businesses having tens or hundreds of thousands of dollars locked up for a three-month investigation (only to go bankrupt in the interim).