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PayPal Offers $150,000 In Developer Challenge

Soulskill posted more than 4 years ago | from the i-recommend-the-box-of-rocks-app dept.

Software 80

blackbearnh writes "As previously reported on Slashdot, PayPal recently released a series of new APIs that allow developers to embed PayPal into their web sites and applications without requiring the user to go to the PayPal web site to complete the transaction. To encourage developers to use these new APIs, PayPal is offering two prizes totaling $150,000 for interesting new applications. The entry deadline to register ideas is December 16th, and O'Reilly has an interview with the director of the PayPal Developer Network that covers the details of the contest. In it, Naveed Anwar talks about why PayPal is throwing money at developers. 'When Facebook opened up their platform, it allowed people to work in that particular environment, in the Facebook environment. When the iPhone opened up their platform, they allowed people to work in their environment which was build the applications on the iPhone. When PayPal was looking at opening up its platform, we are not limited by one particular area. We go into the enterprises. We go into social networking. We go into all the places where payment as a solution is needed. And if we can actually reduce that barrier of entry — because at the end of the day, when anyone is building out a business and anyone is building out an application, they're looking at ways of monetizing it.'"

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80 comments

niggers! (-1, Offtopic)

Anonymous Coward | more than 4 years ago | (#30433924)

it's what's for breakfast.

Lame way to underpay. (0, Offtopic)

phantomcircuit (938963) | more than 4 years ago | (#30433928)

This is nothing more than a ploy to significantly underpay for an enormous number of applications.

Not to mention that their new API just turns paypal into a processing center.

Re:Lame way to underpay. (4, Insightful)

Monkeedude1212 (1560403) | more than 4 years ago | (#30433990)

I wouldn't consider it a ploy at all. Essentially this is what Developers and Producers have wanted from PayPal for a LONG time. There are ways to store your paypal account info in other services (Steam comes to mind) but you always had to go to the paypal site to complete the transaction.

Paypal has never been anything but a processing center. All it ever did was hold your bank accounts and Credit cards online so that you don't have to enter that number in more than one place on the internet. All it ever did was keep the #'s secure, in a sort of "I'll give paypal my money if paypal pays for the product" - thus you only ever have to trust 1 person online. If you ever thought it was anything different, you were sadly mistaken.

Anyways, this is good, it's kind of a "Here's what you asked for" and a little kicker to make sure the rest of the world knows, to help it take off quicker.

Re:Lame way to underpay. (3, Interesting)

phantomcircuit (938963) | more than 4 years ago | (#30434068)

Paypal has never been anything but a processing center. All it ever did was hold your bank accounts and Credit cards online so that you don't have to enter that number in more than one place on the internet. All it ever did was keep the #'s secure, in a sort of "I'll give paypal my money if paypal pays for the product" - thus you only ever have to trust 1 person online. If you ever thought it was anything different, you were sadly mistaken.

This new API completely removes that benefit. this makes it so that any paypal merchant can randomly charge whatever they want to my account. Previously I would have had to explicitly approve the transaction.

Re:Lame way to underpay. (1)

Monkeedude1212 (1560403) | more than 4 years ago | (#30434098)

Right - and you will STILL have that option.

They are simply making it more convenient for those who do not want to have to explicitly approve each and every transaction. Specifically subscription based items, Like World of Warcraft, Lottery Tickets, online Poker, etc etc.

Re:Lame way to underpay. (-1, Troll)

Anonymous Coward | more than 4 years ago | (#30434268)

After hearing so many stories about PayPal requiring people to sign away rights like credit card chargebacks, and their allegedly arbitrary process of deciding without warning and without due process that you're committing "fradulent" activities, which of course entitles them to take the money from your account or freeze it, I have to conclude that PAYPAL IS FOR NIGGERS.

Re:Lame way to underpay. (3, Insightful)

Grishnakh (216268) | more than 4 years ago | (#30434428)

After hearing so many stories about PayPal requiring people to sign away rights like credit card chargebacks,

You can still do a charge-back to Paypal if you paid with a CC. Of course, PP will probably cancel your account if you do that, but that's why you shouldn't trust your PP account too much, and just use it for buying shit on Ebay. If you need to rely on it more than that, then open multiple Paypal accounts; use one for selling, one for buying, etc. That way, if PP closes one, you'll still have the other one.

and their allegedly arbitrary process of deciding without warning and without due process that you're committing "fradulent" activities, which of course entitles them to take the money from your account or freeze it

Yes, this is why you should NEVER link Paypal to your main bank account. That's just stupid. Instead, have a separate bank account (at a different bank or credit union even), and link your PP account to that. Never keep any substantial amount of money there; just use it as a place to move money to/from your Paypal account. For instance, if you sell a lot of stuff, have a single PP account just for selling, and link that to an empty bank account. Periodically (every few hundred $$$ or so), transfer money from your PP account to the bank account, then withdraw it (in person or by check, whatever's easier) and move it to your main account that way. Don't give PP a path to your main store of funds, that's just asking for trouble.

PAYPAL IS FOR ***.

I won't comment on that, but anyone that trusts PP too much is asking for trouble IMO. However, it is pretty much a "necessary evil" for a lot of online transactions. I have my own little web store I sell some widgets on, and PP is the only realistic way to get money from people all over the world without asking them to send me money orders, which would result in very few sales, or having to pay thousands of $$$ to set up a credit card merchant account (these fees are probably more money than I've made selling my little widgets). It's entirely possible to use PP and set yourself up so that you're protected in case they try to screw you over.

Re:Lame way to underpay. (1)

concept14 (144276) | more than 4 years ago | (#30438592)

anyone that trusts PP too much is asking for trouble IMO.... It's entirely possible to use PP and set yourself up so that you're protected in case they try to screw you over.

I agree with all the facts you set forth, but the way you present them sounds too much like blaming the victim.

Re:Lame way to underpay. (1)

Grishnakh (216268) | more than 4 years ago | (#30438694)

I'm not blaming the victim at all, but you do have to realize that when Paypal gets entangled with your main bank account, that's a BIG vulnerability, and there's been lots of horror stories involving Paypal stealing money from someone's account over a dispute or whatever. A prudent person recognizes risks, and takes steps to avoid them; I just suggested some steps to avoid excessive risk when dealing with Paypal. They can't suck money out of an account if there's no money there.

Re:Lame way to underpay. (1)

mweather (1089505) | more than 4 years ago | (#30435990)

I've had a recurring subscription for years using Paypal. I've never had to explicitly approve each and every transaction. I approved it once, and it keeps charging me.

I'm waiting for this to seem like a problem. (1)

argent (18001) | more than 4 years ago | (#30434276)

Paypal has never been anything but a processing center. All it ever did was hold your bank accounts and Credit cards online so that you don't have to enter that number in more than one place on the internet. All it ever did was keep the #'s secure, in a sort of "I'll give paypal my money if paypal pays for the product" - thus you only ever have to trust 1 person online. If you ever thought it was anything different, you were sadly mistaken.

I'm waiting for "All it ever did was keep the #'s secure" and "you only ever have to trust 1 person online" to seem like a BAD thing. I mean, there has to be a problem with that for them to be throwing that way. Maybe you can explain it to me.

Re:I'm waiting for this to seem like a problem. (1)

maxume (22995) | more than 4 years ago | (#30434366)

The bad part was that it was Paypal that you had to trust. From where I sit, they didn't have anything to throw away.

Re:I'm waiting for this to seem like a problem. (1)

argent (18001) | more than 4 years ago | (#30434648)

You win one (1) lol. I'd still rather trust one Paypal than forty Paypals, which is what they want me to do now.

Re:I'm waiting for this to seem like a problem. (1)

fulldecent (598482) | more than 4 years ago | (#30434840)

>> I'm waiting for "All it ever did was keep the #'s secure" and "you only ever have to trust 1 person online" to seem like a BAD thing. I mean, there has to be a problem with that for them to be throwing that way. Maybe you can explain it to me.

I'll explain. Imagine using Pandora or Lala or whatever kids use these days to listen to music. You like some very obscure artist, and want to buy the (physical) CD online. To buy the CD you can:

a) Give your email address (and wait for that confirmation email), credit card, & password
b) Click "buy with paypal"

----------
this is just like the different between giving your "real" number or your google voice number to people you meet at the bar. since your tastes may change between now and when they want to call you back, this could be valuable.

Re:I'm waiting for this to seem like a problem. (1)

argent (18001) | more than 4 years ago | (#30435916)

a) Give your email address (and wait for that confirmation email), credit card, & password
b) Click "buy with paypal"

In the first case I am giving Panlala information that they can use to charge me late fees if I don't ship the mp3 back to them by the end of the week.

In the second case I'm giving Panlala precisely what I've entered on the Paypal site, no more, no less.

In the new scheme I'm giving Panlala information that they can use to charge me late fees if I don't ship the mp3 back to them by the end of the week, just using Paypal as a go-between.

In the first case, and in the new scheme, I have to trust every site I visit not to have "you agree to buying 37 episodes of Chick Tract Machinema" in a hidden term in their sales agreement. In the second scheme, what Paypal currently does, I only have to trust Paypal... I haven't given anyone else information they can use to bill me again.

Re:Lame way to underpay. (2, Informative)

nospam007 (722110) | more than 4 years ago | (#30435168)

"Paypal has never been anything but a processing center. "

Actually it's a bank located in Luxembourg since a couple of years.

http://www.businessweek.com/technology/content/jun2007/tc20070614_606853.htm?chan=technology_technology+index+page_top+stories [businessweek.com]

MOD THIS UP - PAYPAL IS NOT A BANK IN THE US (1)

TheTyrannyOfForcedRe (1186313) | more than 4 years ago | (#30445202)

"Paypal has never been anything but a processing center. "

Actually it's a bank located in Luxembourg since a couple of years.

http://www.businessweek.com/technology/content/jun2007/tc20070614_606853.htm?chan=technology_technology+index+page_top+stories

Wrong! Paypal is only a bank for European customers. Here's an exact quote from the article you linked to "PayPal is not regulated as a bank in the U.S."

Re:Lame way to underpay. (5, Funny)

Abreu (173023) | more than 4 years ago | (#30434242)

Nah, the real problem is that, even if you "win the Challenge" you will win a Paypal account with $150,000usd

...which will be promptly frozen for an imaginary reason

What? (3, Insightful)

bcmm (768152) | more than 4 years ago | (#30433978)

From TFA:

When the iPhone opened up their platform

What? Grammar aside, if that's true, it's rather more newsworthy than this somewhat confused story,

Re:What? (0)

Anonymous Coward | more than 4 years ago | (#30434338)

No, they did not follow the slashdot standard of "Opened up" meaning "gave away everything for all time and vowed to never make money again".

They meant Apple created some generic APIs. Though the fact that you have to sign an NDA to even see them makes it anything but open.

Re:What? (0)

Anonymous Coward | more than 4 years ago | (#30435750)

What? Grammar aside
Oh okay

When the iPhone opened up his or her platform

FIFY

Wait... (5, Insightful)

clone53421 (1310749) | more than 4 years ago | (#30433988)

Entering my PayPal login details on some random webpage, without even the convenience of being able to verify the https://www.paypal.com/ [paypal.com] in the address bar?

Phishing begins in 3... 2... 1...

Re:Wait... (0, Troll)

Monkeedude1212 (1560403) | more than 4 years ago | (#30434060)

It makes no difference. Either you can trust the site or not. I mean if you go through a transaction with them after logging into to Paypal does it really make a difference? Paypal sends you an email for each purchase, and if it's not right you can respond immediately. You can change your password if you suspect the site of phishing.

Any site I'll be entering my Paypal Info will have an SSL of its own that I have to login with different details.

Re:Wait... (3, Informative)

Lumpy (12016) | more than 4 years ago | (#30434160)

Which is why the current paypal system works better. I dont have to buy a Security certificate for my web store. you order your crap and buy it on my non-secure site, and when it needs to be secure, it drops you to paypal where you verify the amount and click on "yes, send the money"

I have ZERO interest in using their new system if it will cost me more money by having to buy a cert I really do not need.

Re:Wait... (0)

Anonymous Coward | more than 4 years ago | (#30434328)

I have ZERO interest in using their new system if it will cost me more money by having to buy a cert I really do not need.

Dude, you can buy an SSL certificate from Godaddy for $15/year or less. You can't afford that?

Re:Wait... (1)

nametaken (610866) | more than 4 years ago | (#30435096)

Certs are cheap. You'll more than make that money back when people like me don't avoid you anymore. As it stands a PayPal logo says, "GO AWAY!" to a lot of people.

Re:Wait... (1)

WillDraven (760005) | more than 4 years ago | (#30435560)

I suspect this API's TOS requires a "Powered by PayPal" logo or similar on your site, so I doubt it'll help much.

Re:Wait... (3, Insightful)

spottedkangaroo (451692) | more than 4 years ago | (#30434172)

Wow, is the above wrong... even if the site is "trustworthy" today and they ship the product, they shouldn't be collecting your password. They could then use that to buy some cool shit from walmart.com two years later and you'd have no idea what happened and not even have the simple protections your regular old visa card offers. I suspect the paypal API uses OAuth or some kind of token system or else it'd be totally crazy.

Re:Wait... (1)

Monkeedude1212 (1560403) | more than 4 years ago | (#30435956)

I think the point you are missing is that this is not replacing the old system: it is an addition. You can still use paypal EXACTLY how it was before, completely secure and all that.

This is merely allowing Paypal to do subscription based services without explicitly requiring a user "Yes" every single month. Before now you HAD to enter your credit card to these websites, websites you could deem insecure. Websites that would steal your credit card info as easily as they would steal your paypal username and password.

Seriously, anyone who thinks this is a bad news for Paypal doesn't understand the system.

Re:Wait... (1)

j00r0m4nc3r (959816) | more than 4 years ago | (#30449454)

Seriously, anyone who thinks this is a bad news for Paypal doesn't understand the system.

You're right. It's good news for Paypal. But it's bad news for everyone else...

Re:Wait... (1)

spottedkangaroo (451692) | more than 4 years ago | (#30456740)

You still don't get it. I would much rather give a shady company my credit card number than my paypal password. With my paypal password they can make authenticated purchases as me and there's nothing I can really do about it and my credit card protections won't really apply. However if they misuse the credit card number, I'm not responsible for any purchases the assholes make and the ccard company will locate the guy and have him arrested -- all while I'm sleeping.

Again, there's no possible way paypal is implementing a system where users are presenting their paypal password to non-paypal sites. They'll use some kind of token system.

Re:Wait... (0)

ImYourVirus (1443523) | more than 4 years ago | (#30434182)

So you trust everyone on ebay that you might buy something from not to do anything fishy with, your details?

If so you an even bigger dope than we all assume you are.

Re:Wait... (1)

clone53421 (1310749) | more than 4 years ago | (#30434190)

It makes no difference. Either you can trust the site or not.

It most definitely does make a difference, and that difference is simple.

The PayPal site says “ABC is charging you $y. Okay?”, and I can contest the payment if they don’t deliver.

By contrast, if ABC phished my PayPal e-mail and password I’ll probably have $0.00 in my account next time I log in.

Re:Wait... (0)

Anonymous Coward | more than 4 years ago | (#30434640)

You keep money in your paypal account? Sheesh, and I though my hobby of skydiving without a parachute was taking a large risk.

Re:Wait... (1)

0xygen (595606) | more than 4 years ago | (#30434196)

Of course it makes a difference. You are potentially allowing the site to take as much as they like from your account, whereas by instead logging into the PayPal page, the merchant never has to even know what method you use to authenticate with PayPal and will only provide the amount of funds shown on the payment confirmation page to the merchant.

With the second method, there is no requirement to trust the merchant with anything more than the value of the single transaction, your name and your delivery address

Re:Wait... (2, Insightful)

Anonymous Coward | more than 4 years ago | (#30434336)

The only reason I use paypal is because I don't trust the website I am on with my credit card. Now I have to log into that site and expose my credentials to that untrusted site. No thank you.

For paypal this could be great. Customer finds their bank account emptied and paypal will point fingers at the website they logged into. They are just transferring liability with this imo.

Re:Wait... (1)

felipekk (1007591) | more than 4 years ago | (#30434390)

Actually, the phishing exists because the user HAS to check the address and fails at doing so. If we skip that step, it becomes safer.

Or do you really believe they would develop something less secure?

Re:Wait... (2, Insightful)

arose (644256) | more than 4 years ago | (#30435266)

Or do you really believe they would develop something less secure?

It's not a matter of belief. Those who are paying attention know this is worse.

Re:Wait... (2, Informative)

Hurricane78 (562437) | more than 4 years ago | (#30434422)

Exactly my thoughts when I heard this. I once implemented half a dozen pretty different payment APIs into a web page.
There are only two ways to make this secure:

1. Direct the user to PayPal, and then let PayPal direct him back, sending a special encrypted session id and/or data forth and back.
2. Embedding a Java applet in the page, which has a certificate, and so can communicate directly with PayPal (encrypted) and your server (also encrypted). Then call a Javascript function, to load the next page, where, depending on the server session state, it shows if you payed or not. (Can also be done right in the applet.) The nice thing here is, that the browser and the JVM can build a strong separation between the page and the embedded applet, essentially sandboxing them.

I prefer the first variant though, because
1. It does not require and plug-ins, and even runs in Lynx.
2. With payment providers offering to brand their payment page in the originating site’s style (while still making clear that this is the payment provider’s page), there is no point in embedding it in the own page anyway.

Mind you that I implemented both solutions back in 2003/4. So this is very old news, except apparently for PayPal, who seem to have a NIH syndrome.

Re:Wait... (1)

clone53421 (1310749) | more than 4 years ago | (#30434506)

I prefer the first variant though, because...

It also lets you verify the address bar. The Java applet, though secure, does not. If a phishing site builds a Java applet to mimic the secure one, you have no way of detecting it short of viewing the source of the page in question.

Re:Wait... (1)

Dokterdok (961082) | more than 4 years ago | (#30434978)

This would also certainly lower the bank administrative fees that I always have to pay in advance to my Nigerian business partners!

Re:Wait... (1)

mgblst (80109) | more than 4 years ago | (#30439278)

Yeah, but most people don't even understand what you just said, and those are the big spenders anyway.

Now you can finally pay for a lapdance (2, Interesting)

antifoidulus (807088) | more than 4 years ago | (#30434074)

by sticking your cell phone into the strippers ass. Thats pretty much the only useful thing I can think of.

Re:Now you can finally pay for a lapdance (0, Flamebait)

Jello B. (950817) | more than 4 years ago | (#30435052)

ahahahahaha just how HIGH do you even have to BE just to LIKE windows..... I am NOT joking, WHAT do those guys even SMOKE they are INSANE HAHAHA

Re:Now you can finally pay for a lapdance (1)

PaulCarroll (1475281) | more than 4 years ago | (#30435184)

It does the job. I get paid to work with it. I get paid handsomely (always have). I guess the best thing to be done here is simply to grow up and accept other peoples opinions and choices. If were to be a opinionated moron like you I may have the same feelings toward your OS...... but the fact is.... I just don't care. Please stop the SNES vs. Megadrive arguments I had to endure as a kid.... use what works for you!

PayPal's new spokesperson (0, Troll)

Anonymous Coward | more than 4 years ago | (#30434126)

When Facebook opened up their platform, it allowed people to work in that particular environment, in the Facebook environment. When the iPhone opened up their platform, they allowed people to work in their environment which was build the applications on the iPhone. When PayPal was looking at opening up its platform, we are not limited by one particular area. We go into the enterprises. We go into social networking. We go into all the places where payment as a solution is needed. And if we can actually reduce that barrier of entry — because at the end of the day, when anyone is building out a business and anyone is building out an application, they're looking at ways of monetizing it.

And in other news, PayPal has announced their newest spokesperson, Sarah Palin.

twittering your wealth away (1)

hAckz0r (989977) | more than 4 years ago | (#30434158)

I can just see it now.... You will even be able to "twitter" your money away. Well they "twitter" about everything else in life, why not how much you spend or how much you make? Sounds like a really dumb idea, so I wonder how long before someone actually implements it?

Price Floor (0)

Anonymous Coward | more than 4 years ago | (#30434168)

Paypal effectively introduces a price floor for internet transactions. Until that goes away a ton of commerce is effectively stifled.

The government (in USA anyway) has a prerogative to regulate interstate commerce, and they should be working to open up commerce on the internet. There are literally billions of dollars waiting to be spent in increments as low as fractions of a cent at a time, and yet the infrastructure and fee systems are keeping that commerce from taking place.

Re:Price Floor (2, Informative)

rudy_wayne (414635) | more than 4 years ago | (#30434610)

There are literally billions of dollars waiting to be spent in increments as low as fractions of a cent at a time, and yet the infrastructure and fee systems are keeping that commerce from taking place.

Infrastructure costs money. Today you can go anywhere - to a store or on the internet - and purchase something with a credit card and the tranaction will be approved in a matter of seconds. It took many years and LOTS of money to create that infrastructure.

And that's the problem with transactions involving a payment of only a few cents (or fraction of cents). The fee you have to charge in order to pay for all that infrastructure is considerably more than the cost of the transaction itself. The "price floor" is not imaginary or arbitrary, it is real and it is dictated by the cost of the infrastructure needed to handle transactions.

Re:Price Floor (0)

Anonymous Coward | more than 4 years ago | (#30435794)

The fee isn't supposed to be paid per-transaction. The fee can be on the order of $1 per thousand transactions (paid up front, along with the transactions funded up front). If Amazon can charge $0.10 per million I/O requests on their cloud, then I don't see why the settling can't be done between micropayment providers just as well.

The only real holdup based on what you point out is the initial outlay to create the infrastructure before it is adopted. That will likely work the same as it did with Diner's Club, where it will serve a niche to begin with and only expand as the demand grows beyond that initial use.

There are places where the system is already being used, they just aren't wired for public exchange. Adsense/Adwords, Amazon's cloud (along with their recently unveiled bidding program for spot instances (see Amazon EC2 Spot Instances [amazon.com] for the details)), and probably some music streaming services are already charging sub $1 prices on certain things. It is only a matter of time before that grows to include public exchange of monies.

The important thing to keep in mind is that it's not like a traditional exchange (and can't be due to the low amounts of money), but is more like a utility where you are billed on a monthly basis.

Micropayments for News Sites? (0)

Anonymous Coward | more than 4 years ago | (#30434184)

If fees are low, maybe news sites can somehow integrate this and let users make micropayments for stories.

How to monetize this feature (2, Funny)

halcyon1234 (834388) | more than 4 years ago | (#30434350)

Call it a feature that lowers bandwidth costs by reducing overhead incurred by page redirects

Give it away for free for 6 months, then charge a 0.5% convenience fee on all transactions.

For fun, in 1 year, start charging a 0.5% legacy implementation fee on all old-style transactions.

There you go. Where's my $150k?

PayPal is a scam, should be regulated, FTC asleap (5, Insightful)

lanner (107308) | more than 4 years ago | (#30434468)

PayPal operates like, and should be regulated like, a bank. The way they have treated their customers, like me, and many, many, many others, should be a warning to all; You can't afford to do business with PayPal. They will seize your money, and when they do, it will be months before you see a resolution. The horror stories are true: I know, I have mine.

Re:PayPal is a scam (5, Insightful)

Animats (122034) | more than 4 years ago | (#30434522)

Mod parent up. PayPal needs to become a regulated bank. Until then, take your business elsewhere, to sites that accept credit cards. If someone can't qualify for a merchant account, you probably don't want to deal with them anyway.

Re:PayPal is a scam (0)

Anonymous Coward | more than 4 years ago | (#30434698)

While credit cards may seem like the most natural thing to have in North America, it's not the case everywhere in the world.
I still don't get why international wire transfers are ridiculously expensive, and credit is the only way (through banks) to pay over the Internet without fees. I'd very much like a card that uses my actual money, not credit, in the very same way. (So I didn't need a stable source of over-minimum income to get one issued.) But until then, paypal at least accepts local wire transfers.

Re:PayPal is a scam (1)

fulldecent (598482) | more than 4 years ago | (#30434928)

>> PayPal needs to become a regulated bank. Until then, take your business elsewhere, to sites that accept credit cards. If someone can't qualify for a merchant account, you probably don't want to deal with them anyway.

You are confusing things. PayPal is fine for the buyer, and is usually better that creating another account to buy one time something.

For the seller, they are terrible^4. This is why Google Checkout is taking over.

I buy things from Google Products all the time. As a buyer, there is a lot of value in that simple checkout process.

Re:PayPal is a scam (1)

Zerimar (1124785) | more than 4 years ago | (#30435460)

Google's Checkout is a failure, much like most every other Google product other than search. Now that Google Checkout is the same price (or in some cases, more expensive) than PayPal, yet less feature rich, I assume it will just disappear in time like every other PayPal challenger.

Re:PayPal is a scam (0)

Anonymous Coward | more than 4 years ago | (#30436684)

The difference with Google Checkout, at least in the couple of years I have been using them is that they have been fair to me as a seller so far.

My score is over a $100,000 in problem free transactions with Google Checkout. One $600 charge back on my account that is still pending, but they did not freeze my money while I disputed the charge back. They have contested with the credit card company on my behalf. Yes, they may ultimatly give it back, but they did not freeze my account while doing it.

With Pay Pal I did like $25,000 worth of transactions with them, before the fucked me on an $8,000 charge back without as much as asking if it was legit or providing me with any way to defend myself.

Dollar for dollar, Google has cost me way less money. Especially considering i got in on the early first year discount prices.

Re:PayPal is a scam (1, Informative)

Anonymous Coward | more than 4 years ago | (#30442022)

Paypal in the EU is a regulated bank, registered as such in Luxembourg: Daily Telegraph article [telegraph.co.uk]

Re:PayPal is a scam, should be regulated, FTC asle (1)

alen (225700) | more than 4 years ago | (#30435142)

i agree that paypal needs to be regulated, but most problems are people not following the instructions. like when you accept payment make sure it's only from verified people and send only to confirmed addresses. and use a tracking #, insurance and signature confirmation for expensive items. the #1 rule is only send to confirmed addresses. i haven't sold on ebay for a long time but my rule was anything over $15 or $25 had to go to a confirmed address. my auction stated that all paypal payments had to be sent to confirmed addresses.

Re:PayPal is a scam, should be regulated, FTC asle (1)

vanyel (28049) | more than 4 years ago | (#30435526)

I agree: while they should perhaps have some limited regulation, I've been using them for nearly as long as they've been around without any problem, for both personal and business. A really big plus is that I don't have to have the responsibility of dealing with credit card security. I would *never* enter paypal credentials into a random web site, but haven't looked at the new api yet to see if that's really what they're doing. It would be really stupid for them to do that. I'd venture to guess that fraud handling is already their biggest expense, and that would just make it worse.

Re:PayPal is a scam, should be regulated, FTC asle (3, Insightful)

tvjunky (838064) | more than 4 years ago | (#30435172)

I don't know about the US, but in Europe PayPal's User Agreement [paypal.com] says that it is "licensed as a Luxembourg credit institution". Also I don't really get where all the hate for PayPal comes from.
Yes I read a dozen times that they froze the account of SomethingAwful or some loud-mouthed bloggers under dubious circumstances, but for me it always worked just fine. Actually I really like PayPal because it allows me to send a seller money that is instantly credited to his account, without trust issues on either side or credit card processing for the seller.
I also like the security of going to PayPal's site so I can verify the payment, which is why I am quite sceptical of this API change. But apart from that I really don't see how PayPal is bad in any way for me as an ordinary customer.

Re:PayPal is a scam, should be regulated, FTC asle (1)

Xtravar (725372) | more than 4 years ago | (#30436208)

I got a warning from PayPal saying that I am getting close to my 'send limit'. I've been using it for probably 6 - 8 years now, and now they're telling me I have to 'confirm' my identity in order to continue using their service. Confirmation requires me 1. giving them my bank account number or 2. getting a PayPal credit card.

Why the fuck would I want to do that? And if it really is for security purposes, why can't I just fax my driver's license?

Re:PayPal is a scam, should be regulated, FTC asle (0)

Anonymous Coward | more than 4 years ago | (#30435382)

Paypal _is_ a bank in several jurisdictions (including the entirety of the EU), but not in the US.

Re:PayPal is a scam, should be regulated, FTC asle (0)

Anonymous Coward | more than 4 years ago | (#30435404)

Hey, braniac, you don't like PayPal... Don't do business with them.

Re:PayPal is a scam, should be regulated, FTC asle (1)

cyberfunkr (591238) | more than 4 years ago | (#30435914)

People keep crying "Oh noes! PayPal seezees my monies!" Why the hell do you leave money in there?

Once a week, transfer everything out of PayPal to your real bank; you know, the one regulated by the FDIC, has potential to earn interest, and you use to pay all your bills.

So, you take a fee-hit every time you do so. Either suck it up, buttercup and consider it a business expense --OR-- figure out how much you would spend on a real Merchant Account so you can accept credit cards, plus the time, energy, and resources for building a custom, secure commerce system, and so on.

For my website, PayPal works just fine. And for that 1 in 5000 customer, I maintain a PO Box for sending me Money Orders

Re:PayPal is a scam, should be regulated, FTC asle (1)

mweather (1089505) | more than 4 years ago | (#30436130)

At my store, about 1 in 100 use Paypal if given the choice. You're losing out on a lot of business if you don't accept credit cards. Try authorize.net or if you want to stick to Paypal, Payflow. Paypal is fine for a hobby business, but if you're trying to make a living, you need to take plastic.

Better late than never? (0)

Anonymous Coward | more than 4 years ago | (#30434544)

Leave it to Slashdot submitters to tell you about a contest 2 days before the deadline. The challenge was announced 3 weeks ago.

That's not the first time it happens too.

Re:Better late than never? (1)

Qzukk (229616) | more than 4 years ago | (#30438382)

It's probably paypal's last attempt at getting someone to care. They're probably just now realizing that the winner of this thing is going to be some incredibly boring shopping cart script written in PHP because it's going to be the only entry.

Just hope someone opens the govt up this way! (1)

freescv (1642459) | more than 4 years ago | (#30435270)

Developers should be using public data from daily voting in such ways like Facebook or iPhone aps. Love to see more govt aps to help people understand laws, vote against them (in realtime, hopefully BEFORE they become law to grind those gears to a HALT!) Upgrades upgrades upgrades! :D Free SCV

First submitted application! (1)

scire9 (1029348) | more than 4 years ago | (#30479852)

I have taken the honor of making the first application to utilize these API's. My application is attached to my email address and all you have to do is email me your credit card number, along with your full name and full SSN (don't panic, the SSN is only needed as a Primary key for the database). Help me and paypal get started testing! Email me payments to JoeFisher@blatantscam.org, I'll take that $150,000 any time you're ready, paypal.
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