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Yahoo Shuts Down Their PayPal Competitor

Posted by ryuzaki0 on from the imagine-that dept.

LostCluster writes "MSNBC and ZDnet are both reporting that Yahoo and HSBC have announced a shutdown plan for their PayDirect service which was their rival to PayPal. Since CitiBank abandoned their c2it service last year, PayPal now seems to be a monopoly by default." There are other players in this field, though, like bidpay and worldpay.

2 of 257 comments (clear)

  1. Canada still has CertaPay by bcs_metacon.ca · · Score: 5, Informative

    A consortium of Canadian banks (BMO, CIBC, RBC, ScotiaBank, and TD) offer "email money transfers" through CertaPay. My wife and I use it for almost everything we used to do through PayPal because -- unlike PayPal -- it's free for both the sender and receiver (as long as you have a banking plan that gives you a number of free transactions per month).

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    How appropriate. You fight like a cow.
  2. Re:I have never understood... by DoorFrame · · Score: 4, Informative

    Paypal is a hell of lot faster and easier than using credit cards. Also, as someone who sells things on eBay on a regular basis, it allows me to accept payments both from paypal people and from people with credit cards, which I wouldn't have otherwise been able to do. Also, I can dump money directly from paypal into my bank account, which I cannot do with my credit card.

    So there you go.

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