[CLUE-Tech] CLUE Projector Fund

[Joe 'Zonker' Brockmeier]

On Thu, 10 Jan 2002, Jeffery Cann wrote:

> On Thursday 10 January 2002 09:09 pm, Joe 'Zonker' Brockmeier wrote:
> >I think that PayPal is a great idea, but I'm not fond of doing business with
> > companies that lie to their customers.
>
> By lying to their customers, what do you mean?

The hooey about requiring a bank account because it makes their
network "more secure" because you've been through a bank's
verification process. If you've signed up for PayPal you know
what I mean -- you're not "verified" until you give them either
a savings or checking account *on top* of your credit card
information. Until you do, they place an arbitrary limit of
$1,000 that you can send through PayPal. Granted, I'm not
likely to send that much through PayPal...

That's crap -- you have to go through a more stringent process
to get a credit card than you do to get a bank account. I'd say
they're trying to get people to use their bank accounts for
transactions, either because it's cheaper or because they're trying
to expand their scope. They want to become the #1 way people
transfer money. PayPal is more convenient than sending a Money
Order if you're an online type of person -- and both you & the
recipient have to have accounts with PayPal.

One of the hardest things for online merchants is actually
getting people to whip out a credit card, once that's done a lot
of people become return customers if they don't have to think
about it in the future.

I'm guessing that's what their marketing department decided here.
Make up a story why they need your banking info, once they have
it they think you'll use PayPal for more services because it's
easy.

Hmmm. That's a little more than my $.02, so I'll shut up now...

Zonker
--
Joe 'Zonker' Brockmeier -=- jbrockmeier at earthlink.net
http://www.DissociatedPress.net/
=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=
Ishmael said, "It is your culture's deep-seated perception that
wisdom is not to be found among you. This is what your daydream
reveals. You know how to build marvelous electronic gadgets, you
know how to send ships into space, you know how to peer into
the depths of atoms. But the simplest and most needful knowledge of
all, the knowledge of how to live, simply doesn't exist among you."