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Old March 6, 2002, 10:40 AM
John David Bradshaw
 
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Default Could it be that Billpoint didn't like the competion...

and is trying to stir something up to wreck Paypal? The timing of all this excitement was peculiarly about the time of Paypal's IPO.

I still use Paypal. I've never had a large balance with them...I always transfer my funds to my "real" bank when it gets to be more than a few dollars in the Paypal account. I use it mostly with auctions which are usually small dollar amounts.

Since Paypal controls a very large piece of the auction payment pie, I am suspicious of Ebay's involvement, i.e., Ebay payments (formerly Billpoint). You used to hear complaints about Billpoint reversing charges on credit card payments with no recourse for the seller.

And the states involved are probably upset because they can't collect any regulatory fees or taxes because Paypal is not a bank.

(Follow the money...you may find your answer there.)

JDB


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