posted on July 8, 2002 09:07:22 AM new
PayPal will no longer be in competition with eBay's BillPoint. The battle is over and PayPal is left standing. That was quite an achievement for PayPal to do battle with eBay's own payment service and win on eBay's turf.
I always thought PayPal's future was promising, now I'm confident it is a sure bet. With eBay marketing PayPal as it's payment service the sky's the limit for PayPal now.
posted on July 8, 2002 09:56:08 AM new
It does still need to approved by regulators and shareholders. I'm not sure I would picture it as much of a battle. eBay is an auction company, Paypal is a payment company...
posted on July 8, 2002 10:08:18 AM newFlaoislandIt does still need to approved by regulators and shareholders. eBay is an auction company, Paypal is a payment company...
I doubt there will be any problem. eBay is a business, PayPal is a business. eBay's BillPoint and PayPal was in direct competition. EBay was PayPal's only competition, the only one that could really hurt PayPal's business. If eBay/BillPoint had required sellers use BillPoint then PayPal would have had a tough road. One of the warnings PayPal gave in it's SEC filings was it's dependence on eBay and how it couldn't control eBay's actions.
PayPal has a rock solid foothold on the internet and now for any other payment service to compete with them it would cost them a fortune. I don't think there are many companies willing to invest the amount of money it will take to compete with PayPal now.
A week or so ago Merril Lynch issued a report and called PayPal an 800 pound gorrilla in the payment service field. Now they've mated with eBay!
posted on July 8, 2002 11:34:59 AM new
I wonder how this is going to work with my negative account.
My Ebay buyer ordered and received their item and then reversed the Paypal payment after they got it mail to them, which is mail fraud. And Paypal fully allowed them to fraud me even with a confession from the buyer that they used Paypal to attempt mail fraud after receiving the item.
mitsubishidealer (0) Not a registered user Oct-08-01 22:59:49 PST 1644006461
Praise : great item, everything included as listed nice doin business with u
Ebay said they recognize that the intended party got the item and should not have been allowed the Paypal reversal.
Ebay even closed the Ebay account as they recognized there was fraud. Ebay even refunded partial fees to me.
But at that time, Paypal was an independent company and Ebay could not assist in helping me from Paypal processing a fraudulent claim.
Now that Ebay owns Paypal and they said they buyer got the item. It will be interesting to see how Ebay handles wrongfully frozen accounts and account like mine that were hit by fraud even though it has been proven so, Paypal charges service fees and stands behind the fraudulent user.
It will be interesting to see who Ebay handles the class action lawsuits from users like me that are already filed against Paypal ?
posted on July 8, 2002 07:22:40 PM new
I usually read this board and never post. eBays control of PayPal will give them more control over your life and income. From an early age I was told never put all your eggs in one basket. Watch eBay monitor who you transact with unrelated to ebay and then claim you are avoiding fees if you ever did business with the payor on eBay, when all is said and done this merger will cost you somewhere around 2.5% to 5% of your action. If you have a PayPal dispute eBay will unregister your account, if you question eBay the new improved PayPal will restrict you. You are grist for the mill.
posted on July 8, 2002 07:54:15 PM new
Dave your right as rain. While I'm not a seller on ebay I have bought. I also have seen this company go from infant to arrogance. These baffoons that started this company are going to walk away scot free after stealing peoples money and aiding and abetting in all sorts of illegal entities. Their pockets will be full of blood money from people who put their trust as well as their hard earned money in them. They rely on the fact that people won't ban together against them. Peter Thiel didn't take psychology for nothing. His divide and conquer theory of keeping the fraud buyer happy and screw the honest seller has worked to make him and his evil cohorts millions. Notice that in the past month www.suepaypal.org has publicised about illegal activities and now their going to stop taking online gaming accounts. What are they going to do with that money people got screwed out of? PUT IT IN THEIR POCKETS AND LAUGH ABOUT THE "DUMMIES" THEY SCREWED.
posted on July 8, 2002 09:02:09 PM newclub1manTheir pockets will be full of blood money
I love the 'high drama' in your posts. I'd send you a PayPal payment for the entertainment factor if you could accept it. I think my last favorite 'high drama' post is where you predicted the end was near when PayPal (PayPonzi) executives were dumping their stock after they pumped up the value.
In light of today's developements would you agree that the pumping & dumping post might have been a tad inaccurate?
Keep it up club1man. I think you got PayPal running scared.
posted on July 8, 2002 10:29:18 PM new
What you need is a seeing eye dog (for the intelligence factor) Your blind loyalty to this dirt bag company is just as bad as your inability to have any feelings for the thousands of people that have had their lives turned upside down by a company that believes they can change the rules to suit only themselves. What they did by pumping the stock is the reason their taking the blood money and running. Hope they buy a cup of coffee you deserve it. How about commenting on Peter thiel taking a "loan" of 130 mil from a company that wasn't even making any money at the time. By the way the deal isn't done yet. The FTC might have something to say about that.
posted on July 9, 2002 02:33:35 AM new
Lord I hope so!!! If eBay joins those crooked idiots I'll close my eBay account just like I closed the PayPal account. Heck, eBay could probably care less about losing a few thousand accounts though. The on-line auction business was fun while it lasted. I won't do business with anyone affiliated with PayPal in any way. I have no respect for a company that supports criminal activity. Just my 2 cents worth....
posted on July 9, 2002 06:32:41 AM newthchaser200Who knows, maybe eBay will fix PayPal, but the again, maybe not.
Do you expect eBay to make PayPal like BillPoint (the service they are scraping) or do you think eBay purchased PayPal because they thought PayPal was superior to their service? If they were just going to change the look of BillPoint all they needed was a web design team.
AP 7/9PayPal would remain a distinct brand, and its 750 employees would still be headed by current CEO and co-founder Peter Thiel, who would report to Whitman. "What we set out to do was build a new global payments system," Thiel said. "I think this is the way to achieve (PayPal's) founding vision."
posted on July 9, 2002 06:43:10 AM new
What I think is amazing is that Ebay in all of its "infinite wisdom" is trying to get away from the marginal sellers.
Just who do they think is PAYPAL biggest customer base?
It is not the big guys who can afford & use their merchant account.
The other issue is how many Ebay sellers use Billpoint because they do not want to deal with PAYPAL?
Can it work?
Yes...
Will it work?
I doubt it....
Ebay has this habit of running companies they buy into the ground.
But hey... you never know...
Now let me run out & buy those MEGAMILLIONS lottery tickets.... I think the odds of me making money with them are better.
posted on July 11, 2002 12:45:59 PM new
Wait till eBay finds out that most of Paypal's value is in illegally frozen account balances....Money they will have to give back .
.
Reality is a serious condition brought on by a lack of alcohol in the system
posted on July 19, 2002 07:39:36 AM new
It was only a matter of time before BillPoint would lose from PayPal. Why? Because international sellers or buyers could not use Billpoint. And PayPal did accept them, although they never got the same rights as any U.S. member. Which is ridiculous of course. But still...
posted on July 19, 2002 02:12:22 PM new
That is very nice for you mrFoxy, but everytime I tried to sign up and couldn't fill in a state (because we don't have the states outside of the U.S.), it rejected me. I finally gave up. So I don't know who send you those international payments, but they had more luck signing up then me.
posted on July 24, 2002 01:58:46 AM new
More words of wisdom from another payponzi bible pumper. The last post needs to be brought to the attention of auctionwatch. It has about as much validity as a 3 dollar bill with clintons face on it.
As far as Ebay goes,
I'm sure ebay thinks buying paypal will be a good thing, but I don't think ebay realizes they have been dupped. The silver tongued devil CEO of paypal and his henchmen probably didn't tell the whole story. I'm only 1 of their proported 15 million customers, however I'm the one that they spent close to a half a million dollars in legal fees and expenses to collect what they said was about 18k that I owed them. Guess what, I'm broke so who pays ? The other customers. Now I ask is that stupid business, when all I wanted was what they owed me? Their fraud protection was SO bad they when a credit card failed an address verification check twice they sent me the transaction anyway. Then they expected me to pay them back four months later. They changed the status of accounts to justify their actions and I had dated e-mails to prove it.
Their theft of customer money as well as their lies and deceit have alienated them from tens of thousands of customers.
They lied in their SEC filing when they failed to report all the law suits against them. I personally know of 2.
Their deceit of advertising 15 million users, when app. 80% are free accounts and rarely used and 20 % that include porn sites,illegal gaming sites, and Yes even sites where you can buy illegal drugs,weapons and support hate groups will sure put it to ebay. Ebay has said they will stop the gaming sites, but will they close the KKK's sites or the Aryan nations and White power sites. Bear and Stearns has already predicted an 8-10 % loss of revenue when the gaming sites are gone.
I guess I'm not much of a business man but if I was Ebay and hadn't signed on the dotted line I'd do some serious thinking and soul searching. In the long run paypal will only hurt the good reputation of Ebay.
Your analysis is contrary to every other analysis I've seen on the eBay-PayPal deal (that wasn't written in crayon.) There were countless articles of how eBay had to acquire PayPal months before this happened. For some time it wasn't a matter of "if" but "when." We all realize it disturbs you to see PayPal's growth, but you better learn to deal with it.
posted on July 24, 2002 12:16:50 PM new
Uaru, I agree with the "if" and "when". However, most of these people haven't taken the time to research the REAL paypal. When I talked to the deputy Attorney General in New York, he did not realize all of what was going on with them. Naturally, I just pointed out the negative as you only point out the positive.
You didn't address the loss of some 700+ milion in revenue from illegal gaming, (as reported) or what will be done about the other illegal sources of revenue. IE, drugs,weapons. Also will Ebay thru paypal allow themselves to profit from phedifiles and pornography. You have to admit, that will be a big loss in revenue also.
"We all realize it disturbs you to see PayPal's growth, but you better learn to deal with it."
I am dealing with it. In an ironic way I'm laughing at payponzi, because they have spent almost a half a million trying to get 13k out of me, and their lawyers are still billing them because the dumb arbitrator,that I believe was in their pocket all the time, is still trying to figure out whether he can legally award the legal fees. Doesn't matter one way or another the laugh is on them and sorry to say, YOU paid for it, by raising their rates. I believe, Reid Hoffman's decision to go ahead with this, shows some REAL good business sense.
posted on July 24, 2002 01:33:55 PM newclub1manYou didn't address the loss of some 700+ milion in revenue from illegal gaming, (as reported) or what will be done about the other illegal sources of revenue. IE, drugs,weapons. Also will Ebay thru paypal allow themselves to profit from phedifiles and pornography. You have to admit, that will be a big loss in revenue also.
Club1man,
Why don't you just report these illegal sites to the authorities? I'd be real curious about a site accepting credit cards or PayPal to distribute child pornography as you keep suggesting over and over like an idiot ranting on a street corner. I'd think it would take a real idiot to submit trackable payment information to purchase such material.
Your rants are coming across as some idiot in a bar that's drunk one to many and is telling about the "Luminati" or "Black Helicopters." I'd love to see the expression on the faces of the many officials you have written to. Do you come across as wild eyed over the phone as you do in these messages?
PayPal is a payment service, it is a vehicle for moving money from person A to person B, that's it, there is no evil plot, there is no group of subversive men sitting around a table cackling as they plot the takeover of the world.
Club1man, you were really, really, naive when you accepted PayPal payments to fund offshore egold accounts. I'm being very generous in that evaluation... my real evaluation is far, far, harsher. When (or IF) you ever accept the fact you were in "Lala-land" when you tried to get rich using your eGold funding scheme you'll be a much healthier person.
posted on July 24, 2002 03:18:12 PM newclub1mango to www.suepaypal.org it's all documented there.
Nope it ain't 'documented' there Club1man, that's just another "Johnny Fatfinger Hate Site." Yes PayPal is accepted on some unsavory sites, but that's not illegal. VISA and MasterCard are accepted on some unsavory sites also, again that isn't illegal. If you want you can cruise eBay and you can find some unsavory auctions, but they aren't illegal.
You can also find countless churches that accept donations by PayPal... what difference does that make? PayPal is just a tool for internet commerce.
Walk into any casino in the US and I promise you can use your VISA. Walk into any adult bookstore in the US and I promise you can use your MasterCard. Find any sleazoid on the internet that offer a deal how to make thousands a month for only a few hours work and I promise they'll be happy to take your USPS Money Order. So what?!
Your morality crusade is an interesting tactic given your 'business' ventures on the internet, isn't it?
posted on July 24, 2002 10:02:39 PM new
That site researched sites that use paypal. You call it a hate site WOW. Showing that paypal is aiding and abetting illegal "offshore" gaming. Allowing the sale of illegal drugs and weapons threw their service. Aiding and abetting in the promotion of pornography. Then you compare that with churches receiving donations. You need professional help.
Casino's where master card and visa are accepted are legal businesses.
You defend illegal practices and down me for running a legitimate business. I'm not gonna pray for you, I'll pray you kids don't grow up with your values.
posted on July 24, 2002 11:46:45 PM new Let me try a different approach.
Are you upset with PayPal or off-shore gambling? Isn't the issue just a reason to preach the evils of PayPal to your shrinking congregation?
I don't think the gambling issue is a valid one anymore mainly because PayPal per eBay's directive won't be funding them directly anymore. Gamblers will have to use their credit cards with Western Union to wire money to the off-shore casinos, or they can just send them a check from their bank.
WAIT A MINUTE!!! Oh my God!!! I can't believe this... this is horrible! Seems there is an outfit of a dubious nature that will allow you to operate out of the US restrictions, an off-shore company that allows you to move money around without the prying eyes of the US judicial system. There seems to be a lot of casinos that accept eGold. Have you ever heard of eGold? Oops... of course you have you were helping people fund off-shore eGold accounts out of the goodness of your heart weren't you.
Naw... you can't be upset with gambling now can you. After all you had a banner to one of the off-shore casinos on your web page till I shamed you into removing it. Hard to preach the evils of alcohol with a bottle in your back pocket isn't it? But wait... what's that I see, is that an eGold banner on your web site?
Let us sit down and give thanks to the Lord that I have helped you discover this blight on your web site that is clearly offensive to you. Now you can run and delete that banner and preach the evils of eGold to the world. You will preach the evils of eGold now won't you? I'd hate to think you were an old hypocritical preacher that didn't hold true to his values.
posted on July 25, 2002 10:15:21 PM new
Well I guess it's time to rattle Uaru's chain. If I don't post he has no one to talk to.
I'm so embarrassed that he pointed out the gambling banner on my web site. lmao. The banner swap program put it there. Being the nice guy I am, just to please him I removed it.
Actually I have nothing against gambling and for that matter where it is. The illegal part is quite different. The banking is not done by the casinos but by individual services and can easily be used for money laundering. That reminds me, Ebay might have said NO but they haven't taken over yet and as of this time payponzi has not quit circumventing the credit card companies rules.
As far as E-gold goes it is a legal,licensed company that has a division office in Fla.
Government agencies have already investigated them and they were found in compliance with all rules and regulations. They also work closely with those agencies against fraud and supply records to the courts when necessary. Incidently, you don't see over a hundred web sites on the net complaining about them. Or do you see web boards like this and others with tens of thousands of complaints.
Their service is simple, you can buy precious metals as an investment or use their service as a payment service. Once you send to another person it's sent, unless they send it back.
Also Ebay hasn't taken over yet. A lot of things could happen between now and the end of the year. I'm still wondering why a company that claims so much success is selling and the big brass is selling off their stock. Kinda makes you wonder. If their as great as you say they are, why didn't they buy Ebay. After all the 27 yr.old co founder, that isn't even a US citizen, or a citizen of any country for that matter, can run around in high priced sports cars and spend his time playing video games, should be able to figure a way. NAH just steal the money and run.
[ edited by club1man on Jul 25, 2002 10:20 PM ]
[ edited by club1man on Jul 26, 2002 12:01 PM ]
