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Thread: Why did PayPal succeed while others failed?

  1. #1
    Senior Member quantass's Avatar
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    Why did PayPal succeed while others failed?

    PayPal is a ubiquitous name as Ebay. From what I remember there were other online payment methods, perhaps before PayPal, which includes Flooze and Ecash. Can you tell me what exactly did PayPal do that made them stand head over the rest, especially for Ebay use? Was it their interface, something about verification, fees?

    Thanks.

  2. #2
    Senior Member dmoltrup's Avatar
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    PayPal definately has a better sounding name. The last thing I want my wife to see is an email with the word 'Flooze' in it. ECash has a truthful name, but it is too much of a reminder that you are still working on a POSSIBLY unsecure digital computer network. People don't want to be reminded that the digital age has sprouted faster than the security to control it. Again, PayPal has a cute name and ring to it.

    "Let me pay for that with PayPal!", sounds much better than "Let me send you some ECash!". Also, PayPal sounds like it is going to be easier for the recieving party to use. I get PAID. Sounds like CASH in your hand. ECash doesn't. ECash sounds like you get universal monetary funds for the electronic world. Yippie!! I've got 20,000 gyrzinium units of ECash! Plus, is it ALWAYS ECash, or can I turn it into paper cash? It just doesn't sound friendly enough.

    PayPal's push for the online auction market helped them tremendously. Also, PayPal is a universal payment method. It is not in-house only like Beenz. eBay definately catapulted PayPal to its current success, however. That, and PayPal has a cuter name.
    blah.

  3. #3
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    I really wasn't aware that PayPal had succeeded. I would venture a guess that they only screw the little guy out of nickels and dimes. Rarely have I seen a complaint when it was for some serious bucks. You can get very rich by taking only a buck from different people, if you do it often enough.

    I wouldn't use PayPal with your money.

  4. #4
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    Well it aint succeeded because of me i can tell you that, i trust it even less than i trust Ebay, which is saying sumink

    --Jakk

  5. #5
    Member steevo's Avatar
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    I wouldn't use PayPal with your money.
    never had a problem with them.

  6. #6
    Ultimate Member Billforce's Avatar
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    REVALATION!

    Ebay bought Paypal, one in the same company now....love or hate either one, but now the same.
    "Never corner something that's meaner than you are"

  7. #7
    Ultimate Member DocEvi1's Avatar
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    because they take money off people to sign up and their forms are different to the actual system.

    Stefan
    Stefan

  8. #8
    Complete & Utter Member j.m@talk's Avatar
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    I already have a pal that pays for me!

    Lloyds Bank Through the years I've spent more of their money than they have had of mine Which these days is an achievement in its self....... No I'm not going to tell you how, that would be silly

    Whats wrong with Visa anyways?

  9. #9
    Senior Member quantass's Avatar
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    Besides a clever name, interface, and allying themselves with the "bear", Ebay, what other major factors contributed to PayPal's stellar success?

  10. #10
    Gone Fishin' ukulele's Avatar
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    Anyone who is a steady seller on E-bay knows why PayPal is successful. In the early days of E-Bay I used to only accept cash, checks or money orders. It often took weeks to actually see the green in your hand. For a small fee, PayPal would get your money for you quickly and easily. It is the seller who pays the fee. There was obviously a whole lot of sellers that discovered that Paypal was both fast and reliable. Offering that service to the buyer meant they would get their items faster too. It was a winning business model for all involved. For those of us who remember Billpoint which was E-Bay's in house electronic billing system, a money order was as about as fast and filling out the forms was a pain. Long live PayPal. !!!

  11. #11
    Ultimate Member ConfusedAlien's Avatar
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    "Why did PayPal succeed while others failed?"

    it just...did.

    explains alot dunn it? lol

    "how did the universe come to be?"

    it just...did

    lol i could answer some seriously complex questions here. bring'em on!

  12. #12
    Ultimate Member DocEvi1's Avatar
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    LloydsTSB are even worse.

    I had an account with them for 3 years and then started working so asked to be upgraded to a Visa card and a debit card. I got a letter saying that "I hadn't managed my account suitably". Strange I was never over-drawn, never went near the bottom figure... I went to the branch and was told

    "Oh thats a standard letter they send out".

    Barclays there I went, letter to Lloyds complaining and a closure of account. I did enjoy the woman asking (in a quiet voice because there were lots of customers) "I'm sorry sir, but I have to ask why do you wish to close the account", my response "Are you sure, you have customers!". Classic!

    Stefan
    Stefan

  13. #13
    Senior Member TARP2's Avatar
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    Originally posted by Bovon
    I really wasn't aware that PayPal had succeeded. I would venture a guess that they only screw the little guy out of nickels and dimes. Rarely have I seen a complaint when it was for some serious bucks. You can get very rich by taking only a buck from different people, if you do it often enough.

    I wouldn't use PayPal with your money.
    Hmmmmmm... Who would be the little guy?

  14. #14
    AccountClosed comp_nut's Avatar
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    E Bay own's them end of story

  15. #15
    Senior Member quantass's Avatar
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    But comp_nut, what did PayPal do "before" the Ebay buyout which made them stand out. After the fact is of no value to anyone.

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