E-Commerce Times Talkback
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When PayPal filed for its successful IPO last year, it listed a slew of competitors in the online payment arena. But those rivals, including Citibank, Wells Fargo, Yahoo, Microsoft and the U.S. Postal Service, barely sport as much market share combined as PayPal commands on its own. There are signs that some companies still see plenty of opportunities in certain subsectors of this industry. Could they succeed, or has PayPal so dominated the market that would-be startups are destined to failure?
I hope so. They are the worst arrogant people along with mamma eBay, I've ever seen (well, it takes two to tango...). I could mention some errors that will surprise you up to the point to hit the ground with your chin. The point is that it's not that PP is good at what they're doing. The fact is the competition have no idea how to develop -perhaps they're so money hungry- a plan and take 30% away from them. Don't believe me? There's an ad about Pay Stone in this site.
Go see it and then you'll see what I'm talking about, unfortunately. I earn a living through eBay and helping people to get into the online business. Believe me, the market needs a good rational competitor. Maybe this year Santa will bring us one...
Looking back.. several competitors have emerged since and some merchant banks are relaxing their approval policy and processing fees. Even United Bank card www.unitedbankservice.com is giving Paypal a challenge on their Payments Pro version with lower rates and no monthly minimum. Finally the market has a good rational competitor!
I don't understand why folks think that PayPal kills Online Payment Systems. Online Payment Systems will always been there, and PayPal will be one of the components of Online Payment Systems. After all, PayPal is a Online Payment method itself. I also do not share someone's comment on PayPal being arrogant. This is an organization, do you expect an organization to smile at you, bang down its knee to serve you? I have used credit card payment, Paypal, check payment online. I found all of them the same. It is just that PayPal is a lot more convenient, since I remember my email address, but not my credit card number, or checking account number all the time. But then, not all merchants accept Paypal. So, I still pay via my credit card as well. Never have any problem with Paypal, nor do I have any problem with credit card company, or eBay. I guess that's probably because I set reasonable expectation of how companies behave.
I have emailed them repeatedly about their support of the Caribbean.
If they are the 400 lb gorilla, and influence who is supported by eCommerce, I wonder why they *accept* payments from Jamaica, yet do not allow payments to be made there? That is *one* example.
They do not support Trinidad and Tobago at ALL.
They have censored the Caribbean from eCommerce. We must seek a viable alternative.
Congratulations, PayPal. You've created part of the digital divide by not providing proper service to the Caribbean, and also by hampering other companies that would.