[LINK] Age: 'Reserve Bank could scuttle eBay's plans'

[Richard Chirgwin]

Rick,
[snip]

> The lie is there in front of you. The truth is that PayPal is 
> demonstrably the
> a very [problematic payment system when a dispute arises and your funds
> are frozen. And as pointed out in another posting, they are not a bank.
>
> They do not have to abide the same code of conduct and rules and regs 
> that
> banking insitutions do. This, imho, is plain wrong and should be 
> addressed.
> If it quacks like a bank, treat it like a bank.
I'm not an expert in the finer points of financial services, but Paypal 
does hold an Australian Financial Services License, just like the banks 
do. So which regulations is Paypal *not* subject to?

However: I say this from the point of view of someone who:
- strongly dislikes the eBay-Paypal nexus, given its monopolistic 
nature, but
- has never used Paypal and isn't an eBay shopper.

RC
>
> cheers
> rickw
>
>