Berkeley CSUA MOTD:Entry 18775
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2024/11/23 [General] UID:1000 Activity:popular
11/23   

2000/7/26 [Computer/SW, Computer/Companies/Ebay, Computer/SW/Languages] UID:18775 Activity:nil
7/24    If PayPal doesn't cost the consumer a single penny, how the heck
        does it make money? What is its business model?
        \_ Just like any other websites, Advertisings.
          \_ How much money do websites make off of those banners?
                \_ Varies widely.
        \_ It makes money like the banks make money: if you keep it on
           their account and do not deposit it to the bank, PayPal
           gets interest on it.
          \_ They charge big customers a fee for bulk transactions, too --oj
          \_ The only problem is credit card transactions cost them 1-3%.
             If the credit card transaction cost was free, it would make
             more sense.  -nweaver
                \_ Maybe they have a deal with the CC companies.
                        \_ I personally doubt it, but they might. -nweaver
   companies with a large amount of transactions can negotiate for a lower _/
   fee for their transactions -oj
        \_ they enforce a two week waiting period between you paying them
           and them crediting your account.  Kinda sleazy.
              \_ I read that it took them 2 weeks to actually credit your
                 account.  This was on the PayPal website too.  It made me
                 mad and I decided to not use them.  -aspo
                 \_ Why'd it make you mad that they publicly posted their
                    policy on their website?  Don't like it?  Don't use it.
                 \_ electronic funds transfer in: 7 days
                    personal check deposit: 1-2 weeks
                    electronic funds transfer out: 3-5 business days
                    check from PayPal: 1-2 weeks
                    these all sound pretty reasonable. i can't find
                    another reference of "2 weeks" in the fine print. -jwang
                    \_ 7 days (bussiness?) for an electric funds transfer
                       is still WAY too long.  They get the money in like
                       10 minutes.
                          \_ Well, they got to hang on to your money
                             as long as possible in order to make
                             money.  Do you blame them? -nweaver
                                \_ if you're buying something, it's not
                                   "your" money anymore.  -tom
                        \_ Actually, it like seconds.
2024/11/23 [General] UID:1000 Activity:popular
11/23   

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