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View Full Version : Will PayPal become a major player in banking/financial industry?

YaSO
06-14-2004, 10:09 PM
PayPal has number of problems in the past, but apparently, they are solving those(technical and logistical) problems as they settle lawsuits (http://news.com.com/PayPal+settles+customer+suit/2100-1038_3-5233490.html). As of right now, they are only targeting micro payments, but will they become a major player in banking/financial industry? Will they start modifying their system so that they can handle big payments in near future?
MBA UOP
06-14-2004, 10:31 PM
I think they may. Are they actually considered a bank in a legal sense?
YaSO
06-14-2004, 10:36 PM
As of 2001, they are not.

http://www.htmlgoodies.com/beyond/paypal.html

but I don't know if they still have the same status.
subnet_rx
01-13-2005, 09:57 PM
Yes, I think they will. They will at the very least own a lot of the internet transactions that take place because their service is so easily integrated into shopping carts.
rajc007
01-20-2005, 04:40 PM
I think as long as they keep their prices reasonable people will continue to use them because of their convenience. But if they follow ebay's strategy by raising prices and have so many charges that you can't keep track of them, people will start to look for alternatives.
Kwak
03-24-2005, 03:07 PM
Paypal is not the place for a business transactions that involve a large sum of money. I doubt Paypal will become a major player in that field, Paypal is targetting a different niche and they are successfully in it already.
dcdomain
07-16-2005, 03:39 PM
Ditto what iKwak stated. They are the ones to beat in their small niche market, but I doubt they'll ever be able to get their foot in the door when it comes to larger business transactions. In addition, even though I use it, I'm not using it because of it's features or what not, it's because it's established and not many people use the alternatives (don't even know of many out there). I think their charges are too high and the fact that they are owned by eBay? Lot of negative press recently.

There are better auction sites around, but they just don't have the mass number of people using it like eBay/Paypal.