[LINK] Age: 'Reserve Bank could scuttle eBay's plans'
Richard Chirgwin
rchirgwin at ozemail.com.au
Wed Apr 23 13:25:45 AEST 2008
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
>
>
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