Topic: PayPal is headed for trouble!

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Posted at March 18, 2004, 9:52 pm:

PayPal is headed for trouble!

Looks like a mere 1.2 million in chargebacks will put PayPal out of the credit card processing business.

<<<Fed up with chargebacks (when someone demands a refund) and fraud, MasterCard, Visa and the rest of the credit card industry have recently tightened the noose on Internet purchases. American Express (nyse: AXP - news - people ) has refused to handle porn transactions since 2000, and PayPal, now owned by eBay (nasdaq: EBAY - news - people ), ceased to deal with the trade in May. As of October, merchants whose customers demand refunds of as little as 1% of sales using a credit card face hefty fines and possible expulsion from the card processing network, a fatal blow for an Internet retailer.>>>

Original of the message was taken from http://www.auctionbytes.com/forum/phpBB/

Replies:

where did you quote this info from?Regards, Andrew Ketterer http:/...

I lady is laughing all the way to the bank becuase she found a loop wh...

Generally one person can only run two chargebacks a year.

Is that per card? and does that include outside of paypal? If not this...

giftworld, you need to file mail fraud charges against the buyer for ...

Hello, Thanks for the great advise.

I agree Paypal don't care because they get a kick back.

There is a cost to doing business.

I think we can all agree we should just let them do it.

Another scam about paypal? someone again don't like paypal for all the...

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