eBay Merchant to Sue PayPal for its Anti-Bitcoin Policies
PayPal is known for being antagonistic towards Bitcoin. The company is known to “sever business relationships” with people who sell Bitcoin products (specifically miners) on eBay, the company that owns PayPal. It doesn’t really seem fair for PayPal to block people from selling Bitcoin mining gear. After all, Bitcoin miners are just specialised computers, and there’s nothing illegal or prohibited in eBay’s terms of service about selling computers. But since Bitcoin threaten’s PayPal’s entire business, it seems a logical (though anti-competitive) move on PayPal’s part. However, one eBay....
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In September 2014, eBay announced plans to separate eBay and PayPal. In a recent SEC filing, eBay confirmed that a newly formed corporation named PayPal Holdings, Inc. ("PayPal") will take over the businesses that make up eBay's payments segment. eBay, the existing publicly traded corporation, will continue to operate its marketplaces business. The separation, which will provide current eBay stockholders with equity ownership in both eBay and PayPal, will be effected by means of a pro rata distribution of 100 percent of the outstanding shares of PayPal common stock to holders of eBay....
In their recent SEC filing, eBay and PayPal confirmed plans to allow merchants with a standard account to accept bitcoin payments through third-party processor Braintree. This company was acquired by eBay for $800 million in September 2013 and will now be part of PayPal Holdings. In the same SEC filing, eBay and PayPal have announced the formation of a new corporation called PayPal Holdings that will take over the businesses in eBay's payments segment. Meanwhile, eBay will continue to operate its marketplace business as a publicly traded corporation. "As two distinct publicly traded....
In an email from Ebay they share their plans to open trade for cryptocurrencies like Bitcoin on 10th February 2014. This is a shift from their present policy that bans the sale of digital currencies. Many virtual currency experts are urging caution when trading virtual currencies on EBay using Paypal, however, as the risk for charge backs are still very real using PayPal. At it's core, EBay is built to be a major venue to trade these assets. Forecasting an advancement in payment processing as large as virtual currencies offer was impossible when EBay bought PayPal in 2002. Not a person in....
On Tuesday, Andy Shroder posted on Reddit that eBay Inc. had removed his merchant listing because he accepted bitcoin for his products. The auction website told Schroder, a solar energy researcher and solar panel manufacturer, that bitcoin does not qualify as a payment method due to “two key factors” — security and safety, and ease of use. EBay sent Schroder an email saying: "Please understand that you mentioned you accept ‘Bitcoin’ as a method of payment. Some online payment companies are fairly new and inexperienced and they do not provide sufficient fraud protection to members. When we....
After more than a decade of being part of eBay Inc. , PayPal will return to the stock market as an individual company. Shares of PayPal (PYPL.O) jumped up 11% in value as people anticipate the company’s return to NASDAQ. With that rise, and adjusting for market stabilization, PayPal is now valued at about $52 Billion. Online payments have changed considerably since 2002 when eBay acquired PayPal, and the popularity of PayPal has lead to a relationship that hinders the potential of PayPal. Processing over $235 billion in 2014, PayPal handles some massive transaction volume on a daily basis,....