Slashdot Mirror

← Back to Stories (view on slashdot.org)

PayPal Launches Facebook App For Sending Money

Posted by samzenpus on from the like-this dept.

angry tapir writes "PayPal has launched a Facebook application designed to let users of the social networking site send money to each other. The application, named Send Money, features a greeting card component for accompanying the money transfer with an e-card containing a message, photos and videos to mark occasions like birthdays and anniversaries."

6 of 66 comments (clear)

  1. Fat cash by Anonymous Coward · · Score: 5, Insightful

    Just think of all the money they can confiscate claiming fraud. Sounds like a good plan.

    1. Re:Fat cash by bobwrit · · Score: 5, Interesting

      Just think of all the money they can confiscate claiming fraud. Sounds like a good plan.

      This is Paypal's motivation in most cases. Considering that they won a case in Connecticut a few years back that says that Paypal cannot be regulated the same way a bank can(when they're pretty much a bank), they really have free reign. Of course, Paypal also has a history of randomly locking down accounts asking for SSN numbers and for you to verify where you live and provide a scanned driver's ID etc etc as well. So, I wouldn't be surprised if Paypal starts doing that here as well. I think you're spot on with this.

      --
      -- (this is a sig) My Computer Programming Forumhttp://www.programers.co.nr/
    2. Re:Fat cash by Runaway1956 · · Score: 5, Insightful

      Significant, or otherwise, it's revenue. And, it's definitely significant to the victims! 180 day's interest on a thousand dollars is indeed a drop in the bucket for Paypal, but for many people, having their thousand dollars frozen for six months can be disastrous!

      --
      "Windows is like the faint smell of piss in a subway: it's there, and there's nothing you can do about it." - Charlie Br
    3. Re:Fat cash by Grishnakh · · Score: 5, Interesting

      I really don't know why anyone would use the PayPal app.

      It's simple really: Facebook is becoming like a separate internet, where lots of people do all their business and personal activities. Many people, for instance, don't even use email any more, as they do all their messaging on Facebook. If you're thinking I'm wacked, consider how old you are: are you over 25 (or better yet, 30)? If so, then yes, this would seem utterly crazy to you, but this is actually exactly how much of the under-25 crowd thinks; they really do think email is "obsolete".

      So if FB is like a second internet, with messaging, games, news, etc., it's only natural to think that people who spend all their time on there might also want a way of transferring money on there too. Sure, it's easy enough to just go to http://www.paypal.com/ and do it there, but again, we're talking about people who don't use the internet outside of Facebook.

  2. At Last... by Pirow · · Score: 5, Funny

    The two services I wish I could live my online life without.... COMBINED!

  3. Re:No Bank/Checking account--Ever by Grishnakh · · Score: 5, Informative

    The problem with this is that, without linking to a bank account, it's much harder to move money in and out of Paypal; they want an enormous fee every time you ask them to cut a check.

    The answer is simple: get one account (mine's at an old credit union in another state that I no longer use actively) and link that to your Paypal account, and ONLY use it for Paypal transfers. When you transfer money into the account, then you're able to write a check with it, or whatever.

    Why people think they can only have one bank account, I have no idea.