PayPal™ being investigated ... about time

[-=HUNGRYMAN=-]

WASHINGTON (Reuters) - Online payment service PayPal has agreed to pay $150,000 to settle charges that it misled customers who expected refunds when purchases went awry, New York Attorney General Eliot Spitzer said on Monday.

http://story.news.yahoo.com/news?tmpl=story&ncid=1212&e=3&u=/nm/20040308/wr_nm/tech_ebay_paypal_dc&sid=95573503

While I still do a great deal of my mainstream transactions thru paypal, I do encourrage my customers to use iKobo (http://www.ikobo.com/ref.cgi?r=BP523472CA) by giving them a 15% discount on my fees.

I am going to offer the same deal to my adult clients too!
This is in response to my displeasure with the Canadian/US banking practises, and the fuckwads at Paypal too !!

I have had several clients delay payments to me because PayPal The Wonderful had out a "freeze" on thier account while they investigated a refund that THEY requested from somebody else ...

I originally thought PayPal was half decent ... but when they decided to pull their moral BS about adult processing right as Ebay's principal's announced the buy to their shareholders .... and playing God with people's funds ... I started to see them in a different light :mad:

I have used iKobo (http://www.ikobo.com/ref.cgi?r=BP523472CA) for several months now both as a merchant account provider, as well as a means of accepting payments, and I am THOROUGHLY IMPRESSED with their levels of prfessionalism ... it's amazing what a group of ambitious ex-bankers can do when they want to !! :D :cool:

I would not hesitate in recommending them to anybody who is looking for a solution that does not have them by the short and curlies !!!

And FYI ... iKobo has some VERY GOOD fraud prevention measures in place, and yes they will process adult too.

Like Paypal, iKobo also gives me a VISA™ Debit Card that I can use at any MAC machine or any merchant accepting VISA, immediately after the funds have been sent. I have tried Stormpay and BeaverPay, and several other "alternatives" to Paypal ... but none have yet to go the extra distance that Ikobo has ... FULL KUDOS TO THEM !! :cool:

iKobo Homepage (http://www.ikobo.com/ref.cgi?r=BP523472CA)

[jact]

Speaking about investigations. :bonk:

[Evil Chris]

Thankfully I haven't personally had any problems at all with Paypal.
I almost got played into a Paypal scam though... some of them are tricky. I'm sure Paypal will get through this all right.

Probably just growing pains.

[NOCHEXContact]

Its a shame I compete with Paypal and its not good for the internet in general when such a large and well known brand for moving money online is given such bad press.

We need to be assuring people its safe to spend online, that will benefit us all in the long run.

this is our service www.nochex.com - paul@nochex.com - we process UK Debit Cards and we rely on people feeling safe in spending money online.

The users in turn are of course paying people like webmasters etc etc.

just my 2 cents worth

[-=HUNGRYMAN=-]

Paul

let me clarify ... my purpose was not to taint the money transfer industry as a whole ... but you must know the politics behind the PayPal sale, and their change of policies ... hell I am not even "in that industry", so you must know I am sure.

PayPal (more namely eBay Inc.) has formed this holier than thou attitude. while most people I know personally have only had a couple thousand dollars frozen ... I have heard of many much larger transactions being put in limbo too ...

I just think that if eBay (or any other company) want to handle our money, they need to play by similar rules to charter banks and such ... or at least be held accountable for this "freezing of funds" practise.

If this were a few isolated incidences, the Feds would not have stepped in ... this is fairly common practise, where the ones reporting the fraud are being penalized ... this will cause people to weigh the risks involved in reporting a fraud, and choose to do nothing, for fear of flagging their own account. This draconian way of thinking has got to go!

BTW ... I checked out your site and it is pretty cool. I never knew you existed until yesterday. I do know

I hope this clears the air a bit.

Cheers!

[NOCHEXContact]

Sure I was not having a go I was just giving my views.

Paypal - well ebay have guidlines and they have choosen to move away from adult. Unlike many people online their business can handle this.

we have seen people like Yahoo come back and retract their non adult policies.

Its all interesting stuff, 3G the UK phone people dont want to issue adult over their netowrk though realistically its the only way they will get back their investment.

Personally the less makets paypal work in the better for me, though I still think consumers are fragile and such public screws they make will help the doubters stay away from the web.

Hit me on ICQ if you wanna know more about Nochex - I think you will like the 1% rates we offer :-) 219458 592

[-=HUNGRYMAN=-]

Originally posted by NOCHEXContact
(snip) .... I think you will like the 1% rates we offer :-) 219458 592

OK ... now that caught my attention ...

Adding you ..:D

[NOCHEXContact]

money talks ;-)