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PayPal Brings Mobile Payments To U.S.
An anonymous reader writes "PayPal is bringing the eastern use of the cellphone as a payment method to the United States. The company's mobile service aims to use secure text messages as a payment method for direct-marketing initiatives and other 'on-the-spot' mercantile opportunities." From the article: "To the extent that digital money doesn't feel like real money, it may increase spontaneous purchasing ... " This story offers more details on a discussion we had last month.
So, on top of the already outrageous eBay and Paypal fees, there will be text messaging fees. I'll be sure to use this on a regular basis. Paypal is already worse than my bank when it comes to ridiculous fees.
...is to be able to take a picture with my camera phone of a barcode on an item that I want to purchase. This would bring up comparison shopping info about the item, etc. If I want to buy the item, I'd just push pound or whatever.
To hear about the sheer number of horror stories the parent talks about, go here: http://www.paypalsucks.com/ I've been ripped off once, but it was a small amount. PP's customer service was in the toilet. All automated, impossible to get to a real person. And no, they do not have FDIC backing or anything. So they are free from the rules that constrain most banks/require them to insure your money. They have a monopoly and thus get away with this. Once that starts eroding, they'll actually give a shit. Just look at IE...M$ has just started working on IE7. When FF was non-existent, the world had to live for years with a stagnating standards-incompliant browser. Something will have to break eventually, and let's hope ebay doesn't have too much leverage in this market (competition is building, but it could be growing a lot more than it is).
Do not downmod posts "overrated" simply because you disagree with them.
so far the only thing they seem to be pushing is cd/dvd sales -- how the hell could it possibly be convenient to buy a cd via paypal via phone? why would i want to send a text message, and then receive a call in order to find out the price and shipping?
if i want music, i want it now, so if i'm shopping i will buy it at the campus music store, or if i am home i will buy it on itunes. the only time i buy cd's online at all are when they are not on itunes or at the cd store.
there's still hope though!
what if i could buy my movie tickets on my phone instead of waiting in line at the theater? that would actually be cool.
-- lol pwned
I'd like to take the word tonight to whine about PayPal not supporting my country, Bulgaria.
Every time I see a PayPal donate / purchase button I'm automatically filtered out since they just don't support my country and declineto accept my credit cards if I try to sign up.
For what is considered the most popular micropayments system in the world, they'd do better to hurry up and actually support the world..
What is wrong with you people? Do you read things at all?
1) Your kids can't spend your money. You still need a paypal account to buy things, which they don't have.
2) Your money can't be stolen. You text the request for money to be sent, and they CALL YOU BACK, asking for your PIN number. If you are the only one who knows your PIN, no unauthorized transactions can go through.
3) this service can be convient for magazine and catalog shopping. No need to call in, or go to a computer.
Move to Europe. The Paypal ToS are better over here, they are subject to regulation (as an "issuer of electronic money") and are answerable to the UK's Financial Services Authority. They can't lock your entire balance due to a dispute over part of it, and you have the right to appeal over their heads to the regulators if they mess you around.
Alternatively, pester your elected representatives for some legislation compatible with the relevant EU stuff. Get some proper Data Protection laws while you're at it.
Just because it's a rant doesnt mean it's a flamebait . And about Paypal Vs CC clearing : Paypal account freezing policies are much worse that any CC clearing company , in Israel cc clearing is around 1.7%, and as low as 0.65% for gas stations and travel agencies , with no per-transaction fee at all , setup fees , monthly fees or gateway fees . .The ebay integration is what keeps this company alive and I am confident that 80% of it's revenue is generated throgh Ebay's sites .It has very little use outside it ,unless you just dont have a CC with you(or at all)
Since here (in Israel) the credit cards are the same as in any other part of the world (Visa , MC , AMex , Diners) I don't see why should small merchants pay the 2.9%+ 0.3usd per transaction in the US , and risk fund freezing(plenty of PayPal horror stories) . Paypal is used mainly for two reasons - Ebay and really small merchants
A Paypal transactions doesnt make much sence for a merchant outside of ebay . Every merchant allready pays the CC clearing fees (because no one in their right mind would actually not accept credit cards) , so a paypal transaction would just cost more , and moreover it would actually hurt the merchant's chances of getting better % from his CC clearing company .
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