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“Is PayPal good for your microISV business?” A short PayPal horror story

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OldElmerFudd:
im a big fan of paypal.. i know people occasionally have trouble with it, but they seem to be the best deal for small payments, and i've had nothing but good experiences with them.
-mouser (December 20, 2009, 03:05 PM)
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Agreed. For small amounts, or even the occasional larger transaction, PayPal has always worked well enough for me. The apparent incompetence of the "representative" layer for problem-solving is an eye-opener, though. Definitely Kafka-esque, but then so are many experiences when dealing with bureaucracies.

JavaJones:
Why is legal for paypal to steal your money? And since when a private entity has the right to freeze someones assets without going to court to do so. Specially when is not something to do with a payment.

They are crooks. Glad to know this before doing business with them.
-rxantos (December 23, 2009, 06:53 AM)
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Last I heard, Paypal is not considered a "bank" and is not regulated like one. So yes, it's scary, they deal with huge amounts of money and have much less stringent requirements on them. That may not be true anymore though...


- Oshyan

Innuendo:
Last I heard, Paypal is not considered a "bank" and is not regulated like one. So yes, it's scary, they deal with huge amounts of money and have much less stringent requirements on them. That may not be true anymore though...-JavaJones (December 23, 2009, 11:32 PM)
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Was just jumping in here to post this very thing. PayPal is not a bank. They don't have to follow any rules or regulations except the ones they make themselves....changeable at will. I'd never trust my business to PayPal. Just ask the guys over at the Newzbin web site. They've had thousands upon thousands of dollars seized by PayPal due to erroneous judgment on PayPal's part & Newzbin has yet to see any of that money years later.

I think if I were a business wanting to look into a PayPal-like system for receiving payments I'd look into Google Checkout.

f0dder:
Isn't newzbin merely a warez aggregator?

Not saying that it's OK for paypal to do what it's doing, just saying that some of the people having trouble are doing shady things.

Innuendo:
Isn't newzbin merely a warez aggregator?-f0dder (December 31, 2009, 03:29 PM)
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Newzbin catalogs binary content posted on Usenet. Some of the content could be considered illegal, but a lot is indeed legal. I'd rather download *anything* off Usenet when the only official way to get some programs is through torrents (some Linux distros and other stuff).

Not saying that it's OK for paypal to do what it's doing, just saying that some of the people having trouble are doing shady things.
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Here's another, more recent, example of Paypal's tomfoolery affecting a 100% above-board endeavor...The foobar2000 homepage used to have a donation button on their homepage which allowed users to show their appreciation for the program by donating money through Paypal.

Now the foobar homepage no longer has this donation button along with the following posted:

2009-12-31
The donation button has been removed due to PayPal being thieves.
Thanks to everybody who donated so far, your funds mostly got through.

I'd love to see the reason Paypal gave for seizing the money in the account of a freeware music player.

Paypal (and their parent company eBay) are punks, thieves, and bullies.

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