[thelist] OT: e-commerce PayPal - And another question on top of that :)

[Martin]

On Thursday, May 9, 2002, at 10:06  pm, Keith wrote:

>> I just watched a piece on TechTV about PayPal...  Basically the same
>> things
>> we have gone over here, be careful and be honest and realise that they
>> are
>> no longer a bank (if they ever were) and you should be all set barring
>> disgruntled customers.
>
>
> PayPal never was a bank. In a way they are reinventing basic banking
> concepts in web terms, while the banking community hasn't done anything
> more than bolt the web up to their 1960's banking concepts.

However, they are conducting banking business, therefore
should be regulated as a bank to offer customers (both
payers and payees) the same level of protection.

If it walks like a duck, and quacks like a duck, and
flies and swims like a duck, what's the chances that
it is one...

cheers
Martin

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