Bitcoin 1, PayPal 0: PayPal Fined $10 Million for Deceptive Practices
PayPal has been fined $10 million for engaging in deceptive practices. The crux of their deception was enrolling customers into a credit program without their consent, creating a situation where people were on the hook for credit they'd never asked for. As you know, any credit program can have an effect on your credit score. The action was carried out by the Consumer Financial Protection Bureau, an agency created in 2011 for the express purpose of monitoring financial practices at the consumer level. CFPB Director Rich Cordray said in a statement: The Bureau alleges that PayPal lured in....
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Paypal or Bitcoin? Or Both? The diaspora of arguments touting Bitcoin's superiority over Paypal is endless. There are economic incentives for buyers and sellers, large and small, to use Bitcoin vs Paypal. Simultaneously, there are still infrastructure gaps that may prevent the efficient use of Bitcoin over Paypal at this time. Today, I will focus on why I (me, me, me), and by extension why you, should use Bitcoin instead of Paypal. Centralized Vs. Decentralized. Any Paypal user, whether a buyer or a seller, will at some point run into issues with Paypal's centralized structure. For....
This past Wednesday, famed venture capitalist and founder of PayPal Peter Thiel spoke to the Booth School of Business in Illinois, Chicago. In his talk on entrepreneurship, Bitcoin, and business practices, Thiel admitted that he felt that Bitcoin is a product which was founded on the same set of ideas as PayPal; however, the two have clearly developed in completely opposite directions. Coming from the founder of PayPal, this was more than a tacit admission that each business idea has multiple paths to different types of success. Thiel continued: Bitcoin is the opposite of PayPal, in the....
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,....
PayPal's embrace of crypto brings a potential 345 million people into the ecosystem. But where banks go, regulators follow.
Paypal has completed the first international expansion of its cryptocurrency offering outside of the U.S. Paypal Crypto is now available to customers in the U.K. allowing them to buy, hold, and sell four kinds of cryptocurrencies. Paypal Crypto Now Available to All Eligible UK Customers Payments giant Paypal Inc. announced Friday that it has completed the rollout of its crypto offering in the U.K. The rollout began in late August when the company announced the launch of its crypto service in the U.K. The official account of Paypal U.K. tweeted: We are delighted to share that all eligible....