The truth about paypal.

[Svengoolie 3]

Paypal takes away all choice in how to do business on the internet, makes it impossible for you to do business any other way by effectively monopolizing internet payments, exposes you to hacker risk while assuming no liability and makes you pay them to buy anything on the net.

They call it "convenience".

[The Burgomaster]

I think they call it "a business."

[Rev. Powell]

I only use Paypal to pay hookers. Try getting cash back from a working girl if she stiffs you (or, rather, if she doesn't).

I use my credit card or debit card for Internet purchases.

[RCMerchant]

Yeah, I use my debit card.
I used PayPal for a couple years about 10 years ago. Pain in the ass.

[ER]

If you're unhappy with PayPal's service, Sven, it has competitiors who might want your business. That's the beauty of capitalism: no state monopoly. 

[Allhallowsday]

If you're unhappy with PayPal's service, Sven, it has competitiors who might want your business. That's the beauty of capitalism: no state monopoly. 

It is worth pointing out that PayPal is owned by eBay; eBay will allow sellers to accept "other" online payment methods, but PayPal is the usual vehicle for payment.  PayPal charges fees to receive payment for an eBay seller, and eBay charges 10% fee on all seller charges, including shipping.  Some have referred to this as "double dipping".  It is monopolistic in practice. 

[ER]

If you're unhappy with PayPal's service, Sven, it has competitiors who might want your business. That's the beauty of capitalism: no state monopoly. 

It is worth pointing out that PayPal is owned by eBay; eBay will allow sellers to accept "other" online payment methods, but PayPal is the usual vehicle for payment.  PayPal charges fees to receive payment for an eBay seller, and eBay charges 10% fee on all seller charges, including shipping.  Some have referred to this as "double dipping".  It is monopolistic in practice. 

I guess I don't see the monopoly there. eBay owns PayPal, as you say, so....if you own something it's yours to use under your own rules within the confines of the law. What you're saying has shades of Janet Reno's disastrous "Microsoft should play nice" outlook of a generation ago. To be so successful you are industry-defining is not a monopoly.

A monopoly would be if PayPal drove all other services of its kind out of business or acquired them and it alone was left (or the ones which remained were so insignificant as to be disdainable in the monopoly's eyes), and off-hand I can think of a half-dozen other firms that provide exactly the same services PayPal does. If someone dislikes PayPal go to a competitor.

Besides, I was referring to a state monopoly, as in so many socialist countries, where the state runs all banking.

[Trevor]

I only use Paypal to pay hookers. Try getting cash back from a working girl if she stiffs you (or, rather, if she doesn't).

+ 

I needed that laugh, thanks.

[Allhallowsday]

If you're unhappy with PayPal's service, Sven, it has competitiors who might want your business. That's the beauty of capitalism: no state monopoly. 

It is worth pointing out that PayPal is owned by eBay; eBay will allow sellers to accept "other" online payment methods, but PayPal is the usual vehicle for payment.  PayPal charges fees to receive payment for an eBay seller, and eBay charges 10% fee on all seller charges, including shipping.  Some have referred to this as "double dipping".  It is monopolistic in practice. 

I guess I don't see the monopoly there. eBay owns PayPal, as you say, so....if you own something it's yours to use under your own rules within the confines of the law. What you're saying has shades of Janet Reno's disastrous "Microsoft should play nice" outlook of a generation ago. To be so successful you are industry-defining is not a monopoly.
A monopoly would be if PayPal drove all other services of its kind out of business or acquired them and it alone was left (or the ones which remained were so insignificant as to be disdainable in the monopoly's eyes), and off-hand I can think of a half-dozen other firms that provide exactly the same services PayPal does. If someone dislikes PayPal go to a competitor.
Besides, I was referring to a state monopoly, as in so many socialist countries, where the state runs all banking.

You won't see the monopoly if you are not party to it.  For small sellers eBay is the only game in town, ergo, PayPal is the only payment method.  eBay has forbidden sellers from asserting that they would accept check, money order, or cash.  It's characterized as "buyer protection".  "Buyer protection" that suits the vehicle of marketing and vehicle of payment.  Only very large sellers actually compete with eBay.  I write that with hyperbole, but there is practical truth in the statements.  There are myriad ways to sell, or pay, online.  In many instances, though, eBay is the only way to reach a market.  I assure you, you do not need to explain this to me. 

[Svengoolie 3]

AHD gets it. Just because a monopoly isn't "legally defined" as a monopoly doesn't mean it isn't a monopoly in every practical,  real life  sense ofthe word.

[ER]

AHD gets it. Just because a monopoly isn't "legally defined" as a monopoly doesn't mean it isn't a monopoly in every practical,  real life  sense ofthe word.

I think the concept you guys are looking at is "the rewards of being successful." Nothing wrong with thriving and pushing back the competition. What do you want, fair play? Business is war.

Again, a monopoly would mean you have no choice but to go to one service provider. I handled 1.6 million in online business last year and dealt with PayPal only about a quarter of the time. Personally I never use it. That's not a monopoly.

And, Sven, if you don't like monopolies, why in God's name do you advocate for socialism? Socialism is all about monopolies: all in state hands and all invariably poorly managed.

[Leah]

I only use Paypal to pay hookers. Try getting cash back from a working girl if she stiffs you (or, rather, if she doesn't).

She stiffed you? Have you tried not using Thai "women"? 

[FatFreddysCat]

I have a PayPal account but it rarely has any money in it. When it does, I usually blow it on stupid stuff anyway :D

[Allhallowsday]

I have a PayPal account but it rarely has any money in it. When it does, I usually blow it on stupid stuff anyway :D

Sounds like a plan.  It may be their plan... 

[Allhallowsday]

AHD gets it. Just because a monopoly isn't "legally defined" as a monopoly doesn't mean it isn't a monopoly in every practical,  real life  sense ofthe word.

I think the concept you guys are looking at is "the rewards of being successful." Nothing wrong with thriving and pushing back the competition. What do you want, fair play? Business is war.

No, it's just my own opinion.  Also, I agree with your last two assertions.  The answer to your question, subjectively, is yes. 

Again, a monopoly would mean you have no choice but to go to one service provider. I handled 1.6 million in online business last year and dealt with PayPal only about a quarter of the time. Personally I never use it. That's not a monopoly.

Wah-rong!  The fee grabs coupled with cornering the online market for many items (collectibles, for example) is tantamount to monopoly.