Check out this series of articles. They note that PayPal has raised its rates to consumers and merchants by almost 3 percent. Click here to read them all. Their communications of the rate increase hasn’t gone over very well.
This price increase is antithetical to a technology world of ever decreasing costs and in an environment where banks and financial service providers are to be on the side of the consumer and merchant.
This position and new fee structure by PayPal is exactly why we are working so hard at Revolution Money to provide an alternative experience and fee structure to compete with PayPal. There needs to be effective competition in a market and there needs to be a viable competitor to keep the incumbent honest and on their toes.
Stay tuned to some new activities by us in this space to help consumers and merchants pay online and at much lower fees. I am surprised that these rates have been increased at this time in our economic crisis. For more information on Revolution MoneyExchange, click here. Sign up today.
A bunch of sites are fake although there are some that are real. I have accounts on two reliable sites and its a decent amount of cash. You’re not risking much so I’d definitely try it out.
I will no longer use ebay since they require all payments through paypal, I think how I get paid is my business after all they still make money from the sale of your merchandise.
I applaud Revolution for going up against such entrenched businesses. Another area I’d like to see some more competition is with online ticket sales. Ticketmaster is a real racket.
Mr. Leonsis,
You may find this article (and the book referenced therein) instructive, particularly as to some of the legal pitfalls set for and encountered by PayPal.
I would note that the article does not absolve PayPal of the multiple claims of extreme greed/indifference to their customers, etc., but it may inform your understanding of parts of their buisiness model.
Regards,
Emily
http://www.reason.com/news/show/33114.html
PayPal has becoming increasingly anti-customer, especially since it was bought out by Ebay. Like Ebay itself, it is more focused on the buyer than the seller, and I know several people who have been burned by less-than-ethical buyers who claim to have never received payment and then file for a chargeback. PayPal inevitably grants the chargeback, despite proof of delivery on the part of the seller. It’s sickening.
I really think the only reason PayPal still exists is because Ebay forces sellers to offer it as an option for any listing. I know private sellers generally request reimbursement for the 3% fees as part of any transaction that takes place using PayPal, but after the latest instance I’ve seen of the “I didn’t receive anything” scam, I’m loathe to use PayPal to receive payment for anything at all, Ebay or not.
I think I’ll have to look at the Revolution MoneyExchange.