In Fifty Days, Payments Innovation Will Stop In Silicon Valley

Re:In Fifty Days, Payments Innovation Will Stop In Silicon V... by foobarbazetc on Wednesday May 11, 2011 @03:17AM (#2535495)

Boohoo, cry PayPal a river.

In most countries outside the US, PayPal is regulated like a bank. This means PayPal can't just lay claim to your money and never give it back to you.

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Re:In Fifty Days, Payments Innovation Will Stop In Silicon V... by rrc on Wednesday May 11, 2011 @04:22AM (#2535641)

Actually, I wouldn't be surprised if PayPal supported the law. Many regulations protect large, established players by raising the cost of entry for new market participants. PayPal can afford to post this bond, but many bootstrapped start-ups probably can't. This is just one of the ways regulation _can_ increase the price of products and services; they decrease competition, allowing established players to raise prices.

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Re:In Fifty Days, Payments Innovation Will Stop In Silicon V... by SwellJoe on Wednesday May 11, 2011 @04:51AM (#2535698)

Boohoo, cry PayPal a river.

I don't understand what this has to do with PayPal. PayPal is large enough to easily jump through whatever hoops are required to keep doing business. This is a problem for new companies, that would compete with PayPal.

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Re:In Fifty Days, Payments Innovation Will Stop In Silicon V... by hessenwolf on Wednesday May 11, 2011 @03:27AM (#2535520)

They can, however, (and arguably should) put a hold on your account if they suspect fraud.

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