PayPal’s Small Business Solution Under the Microscope

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  1. Philip Cohen says:

    Square (in which Visa bought an interest in 2011) has absolutely nothing to worry about, sans its effectively mandated use on the eBay marketplace, the clunky PreyPal could not hit the side of an old timber barn, let alone a modern B&M one.

    “Anuj [Nayer], who is PayPal’s Global Director of Communications, said payments processed through PayPal Here would be protected the same as any other PayPal payment method – which explains why the Terms of Sale for Here includes a mention of rolling reserves. Yes, merchants who use the new card reader will be subject to the regular PayPal reserves and holds (rare occurrences for sellers in most categories, said Anuj), and PayPal is extending buyer protection to shoppers who transact with PayPal Here merchants.”

    Well, many merchants already know what PayPal “protection” is like; many merchants already know what PayPal “rolling reserves” and “holds” are about; and many merchants already know what PayPal “buyer protection” is about—it has a hard wired bias towards the buyer: effectively there is no transaction mediation process as any reasonable person would understand it. And PayPal’s Nayer gives a different meaning to the word “rare” to what the rest of us understand it to mean … And for all this, PreyPal’s fee is only 0.05% cheaper than Square’s? Are they serious?

    Am I missing something here or is this initial launch information not enough to cause this product to be literally “dead on arrival”? Donahoe can’t mandate the use of this clunky prodict. To me it sounds like another desperate Donahoe foray with Alice down the rabbit hole.

    Next time you drop into Home Depot, ask the check-out chick if anyone has yet used (the wholly eBay-funded roll out of) PreyPal to make a point-of-sale purchase. PreyPal at B&M Point-of-Sale is little more than an eBay Dept of Spin-created illusion and is undoubtedly a total waste of eBay shareholders’ funds. PayPal Here will likewise be another eBay lead balloon …

    And, just for a laugh, some comments on PayPal “The New Way To Pay In-Store”, PayPal Digital Wallet, PayPal Debit MasterCard, PayPal Here, PayPal Local and Watch With EBay …

    eBay / PayPal / Donahoe: Dead Men Walking


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