The start of the end for PayPal?

[bob ward]

Longish article.

http://tidbits.com/article/12580

[lost_cause]

looks like it's only made for person to person deals at the moment. maybe there's some plan for the future to handle internet sales, but that would still have to be similar to paypal, so i don't see a lot of difference there.

[wierdscience]

Corner drug dealers are probably already using them,it isn't safe to carry cash anymore.

[Black_Moons]

Corner drug dealers are probably already using them,it isn't safe to carry cash anymore.

If it isent safe for them to carry $100 in cash, its not safe for them to carry $500 iphones.

Also, Drug dealers don't like paper trails. So I kinda doubt they are using them.

That said, Paypal has long since worn out its welcome with its craptastic customer service of "Oh, we have detected irregularitys with your account, and have decided to '*freeze' your account till the end of time. If you want to repeal this action and withdrawl your funds, Please e-mail [email protected]****.com'

*Freeze meaning they basicly steal your money without admiting to it as such, giving you absolutely no chance to get it back, and no legal recourse.

And thats assuming you did'nt link it with your bank account and they decide to zero out your bank account first. (heard it happen..)

[loose nut]

Corner drug dealers are probably already using them,it isn't safe to carry cash anymore.

Since people have switched to paying with credit cards and Interac, for the most part, theft of cash has dropped off considerably. You are far more likely to be robbed electronically than in person.

[+ or - Zero]

Since people have switched to paying with credit cards and Interac, for the most part, theft of cash has dropped off considerably. You are far more likely to be robbed electronically than in person.

I think that might depend on just which neighborhoods one is hanging out in...

[Black_Moons]

Since people have switched to paying with credit cards and Interac, for the most part, theft of cash has dropped off considerably. You are far more likely to be robbed electronically than in person.

Thats one of the reasons I use cash. Especialy after I had the government rob me electronicaly of every cent I had in the bank without so much as a thank you letter.. And $50 I did'nt have (Yea, Put my savings account into the negative, Even though I did'nt have an overdraft..) and I had absolutely no money to buy anything to eat that month.

So far, Havent gotten any real money stolen.

[Rosco-P]

"The start of the end for PayPal? "

Don't think so. Lots of competition in the money moving business, especially in eastern Europe. I expect to see Wally World (check cashing), partner with MoneyGram and go up against Western Union next. Outside of Fleabay transactions, have you ever paid or received money through PayPal?

[lakeside53]

Yes, often. I send and receive "fee free" money via the personal transaction part of paypal.


Like the masses of credit/debit card and banking offerings, there will be increasing competion for Paypal, but it isn't going away.

[Paul Alciatore]

Wait till the hackers get a hold of it. All your financial info going out on a wireless device that they only need to tune in to. Sit in a restaurant and enjoy a nice meal while the receiver in their pocket gathers victim after victim. All your funds can disappear to South Africa or some other inaccessible place in a jiffy. And you have NO recourse. All credit card companies are required to provide protection from fraudulent use. I had a BoA AmEx card duplicated some months back. Zero loss on my part and no argument from BoA. This outfit is not covered by that requirement. No thanks!

[oldtiffie]

Good service

I've had absolutely no problems with VISA, eBay, Pay-pal either for paying or receiving.

I have not had any problems with electronic banking either.

Their service has been first class for me and the fees for service are quite reasonable.

If you don't like the fees or service - don't use 'em.

[Grind Hard]

*Freeze meaning they basicly steal your money without admiting to it as such, giving you absolutely no chance to get it back, and no legal recourse.

And thats assuming you did'nt link it with your bank account and they decide to zero out your bank account first. (heard it happen..)

Been through this myself.

Will never use Ebay or Paypal again, at all ever. I had perfect credit until Paypal *u$ked with my checking account.

Suspect someone very high up in the Government foodchain has his or her finger in Paypal that's how they continue to get away with this sort of thing.

[oldtiffie]

Other options are???

And the cheap reliable effective options to eBay and PayPal etc. are ?????????????

[wierdscience]

If it isent safe for them to carry $100 in cash, its not safe for them to carry $500 iphones.

Also, Drug dealers don't like paper trails. So I kinda doubt they are using them.

..)

You would be suprised what they do.There was a case locally not long ago,three guys had a business set up selling vitamins.Customers had to be "recomended" in order to buy from them,kinda like having a Sam's or Costco membership.Only thing was the vitamins were really narcotics.

They got caught because one of them was driving to make a delivery and had a wreck.By luck the responding officer first on the scene was a K-9 patrol.He pulls up on the scene and a couple minutes later the dog goes nuts.Long story short they search the car,find the pills trace the whole mess back and arrest all three.

They had it setup like a business,took credit card payments and even filed taxes for the three years they were running the "business".

[macona]

Wait till the hackers get a hold of it. All your financial info going out on a wireless device that they only need to tune in to. Sit in a restaurant and enjoy a nice meal while the receiver in their pocket gathers victim after victim. All your funds can disappear to South Africa or some other inaccessible place in a jiffy. And you have NO recourse. All credit card companies are required to provide protection from fraudulent use. I had a BoA AmEx card duplicated some months back. Zero loss on my part and no argument from BoA. This outfit is not covered by that requirement. No thanks!

How so? The reader is a hardware connection to the iphone, though the headphone jack. Then the information is encrypted. I suppose if the hackers have a botnet they might be able to, eventually, break the encryption.