| Paypal/Ebay |
| Good enough for me. |
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75% |
[ 3 ] |
| Too risky and expensive. |
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25% |
[ 1 ] |
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| Total Votes : 4 |
Euler
Joined: 02 Sep 2004
Posts: 109
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| E-Pal and Baybuy |
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Ebay / Paypal
Who here is participating in the class action suit?
I have steered my clients away from Paypal because they represent a risk that can't be mitigated.
Basically, Paypal sometimes freezes all of the assets in an account and there's no recourse or satisfaction. They claim to do this to stop fraud. However, none of the accounts ever become unfrozen and the "investigation" goes on indefinitely.
Anyone here have experience with this? Anyone here risking it all with Paypal?
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Thu Sep 02, 2004 3:21 pm
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Thermit
Site Admin
Joined: 11 Aug 2004
Posts: 272
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I use PayPal for our retail site, and haven't had any problems with it so far, knock on wood. Only a fraction of our customers choose to purchase with PayPal over a credit card.
Most of those who've had their account frozen were participating in pyramid schemes, randomizers, or MLM, which are against PayPal policy in the first place. But I'm sure there were some innocent victims too...
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Thu Sep 02, 2004 3:29 pm
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Euler
Joined: 02 Sep 2004
Posts: 109
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Well, regardless of what those ppl were doing, fair or unfair, the results were the same. They were frozen and locked out. Their attempts at communication were met with an autoresponder.
Other companies don't do that. You get a contact person who handles your account - throughout its entire life cycle. A great example is Wells Fargo.
I don't think Paypal is evil by any stretch. I think that they are SO popular that they have to make certain decisions about how they spend time and resources. Basically, brining in new business MAKES money. Investigating fraud LOSES money. I think it's just as simple as that. They are great at what they do and are not good at protecting the seller or buyer.
So during the decision we have to make, we weigh these things.
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Thu Sep 02, 2004 4:10 pm
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Oliver
Joined: 28 Aug 2004
Posts: 17
Location: London U.K |
 i use paypal all the time, but i havent had any trouble. 
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Thu Sep 02, 2004 5:20 pm
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Euler
Joined: 02 Sep 2004
Posts: 109
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Right and there are millions like you who have had no problems. For the most part, Ebay/Paypal is a respectable deal.
Lemme ask you: are you a seller or a buyer when you use Paypal?
When evaluating the risks from a sellers perspective, you eventually come to the point where you have to address fraud protection. And your response is simply a matter of your organizations tolerance for risk.
Either A - you feel it's okay to get your assets frozen and then talk to a monotone autoresponder.
Or B - in the case of an investigation, you would rather deal with a human and have legal recourse and a chance at gettingt cleared once a REAL investigation is concluded.
What does Paypal bring? Speed. You can outsource the shopping cart and transaction handling.
In a nutshell, it's a tradeoff. Convenience for risk.
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Thu Sep 02, 2004 5:42 pm
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