Subject:
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Re: Can we all agree to do eCheck payments with Paypal and not CC?
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Newsgroups:
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lugnet.market.services
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Date:
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Thu, 2 Nov 2000 18:44:17 GMT
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Viewed:
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1628 times
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Larry Pieniazek wrote:
>
> In lugnet.market.services, Paul Sinasohn writes:
>
> > Sorry, Mike...
> >
> > If you start insisting on eCheck or PayPal, you will forever lose my business,
> > not that I've bought much from you, but I object to what PayPal has done with
> > limiting a buyer's use of credit cards for payment.
So you object to PayPal not giving you a free service? Welcome to the
real world where everything has a cost. There ain't no free lunches. I'm
not sure if PayPal has wrangled an agreement with the credit card
companies or if they are eating the cost of personal account credit card
use. I assume they have worked a deal with the credit card companies so
they can retain part of the service charge (they do have to be able to
make money afterall).
> 1 - The CC companies, by imposing a "you can't charge extra for CC" are
> using a very carefully crafted strategy, since what they are saying is that
> it is an agreement between you and the CC accepting bank that you can't, not
> a matter of legal tender law, and if you don't like it, go to a different
> accepting bank or a different CC company (which there are none that don't
> also charge, but tough noogies, feel free to start your own, sadly)
And you'll probably never see a clearing house which doesn't charge
fees. They have to be able to make money.
I won't be surprised if down the road, merchants will have to pay the
bank to deposit cash, thus levelling the playing field. Right now, banks
don't charge to deposit cash because they make their money off the loans
the write and leveraging your bank balance. At some point though,
electronic payment will be so ubiquitous that they won't want to eat the
cost of providing the security for the few buisinesses which still get
significant cash to drop it off.
--
Frank Filz
-----------------------------
Work: mailto:ffilz@us.ibm.com (business only please)
Home: mailto:ffilz@mindspring.com
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Message has 1 Reply:
 | | SARCASM WARNING re: PayPal payments
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| <GRIN> OK, Frank, how much am I going to charge you for paying me for those big gears </GRIN> (which finally arrived, so I do need your address to send them to you) Do you need the old-style studded wheels with metal axle for them? I'll scare some (...) (24 years ago, 3-Nov-00, to lugnet.market.services)
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