Paypal Acceptable Use Policy Changes :/

As I read it. This is for Vendors not users. So as long as the vendor have been approved by paypal everything should be fine.

 

I very much hate Paypal and all their bull**** and would happily see them go away. Hopefully some other payment company not tied to US policy will come in and save the day.

Kurt

 

Recently made a purchase where the vendor asked to have paypal payment sent as to a friend or family member with instructions to not make any reference to vaping.

This was not a two bit operation either. Website with 2 Brick and mortar locations and a wholesale operation... Sure it is just a stop gap measure but good to see the merchant not kowtowing to the illusion of control.

Unfortunately, paypal will never die. It is infinitely lucrative. Stand in between even just a sliver of the web's transactions and siphon out a percentage in both directions and you are on top of the world... Paypal does more than a sliver. According to wikipedia they took in over 6 billion in profit for 2013.

Beyond their staff and tech infrastructure its almost a perpetual money making machine. On top of the gravy train from percentages of transaction totals, throw in a basket of fees for digit and byte transmissions which incur little to no cost to perform, add in some trickery with bottom barrel exchange rates charged at a premium and tack a fee onto that... Put all your members funds into money market accounts and skim off of that and not to even mention the windfall they collect everytime they allow an account to grow fat before it is frozen and those monies confiscated for whatever reason they want to give valid or not as per the terms of the agreement you conceded to by just using their service. Oh and if you are quick enough to pull your funds before they can latch onto them for owing them for any far fetched reason, if they still have your bank details they can and will remove money from your account without your consent. They are not defined as a bank so you have none of the protections you would assume to have concerning the entity that holds some lump of your money that you pay them for the priviledge of lending to them at no interest.

Dont snooze on paypal. One way or another they will bite you in the ass if you let em.