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02-07-2012, 03:38 AM
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“When Do We Start Calling eBay A Payments Company?”
EBAY'S TRANSFORMATION: When Do We Start Calling eBay A Payments Company? A picture is worth a thousand words, so they say. This linked “Business Insider” article contains a graph of eBay revenues since 2003. It shows, quite starkly, how eBay’s Marketplace revenue has stagnated since 2008, about the time that the headless turkey from Bain & Co, John Donahoe, got hold of the tiller and started his “destructive renovations”. eBay’s share price has moved little in the same period; ergo the eBay Marketplace has effectively been in decline since 2008. It should be obvious, even to the simplest of analysts, that as time passes, the Amazon River flows ever more strongly, whereas the eBay Marketplace now consists of little more than a chain of stagnant ponds covered in slimy green algae—and isn’t that a couple of rusting Chinese-made shopping trolleys that I can see dumped therein? The graph also shows the eBay-underpinning increases in revenue that eBay has received from PreyPal during the same period, that is, from roughly when the “eBafia Don” effectively mandated PreyPal’s use on the eBay Marketplace. Some analysts therefore think that eBay’s future lays in PreyPal. Well, if anyone thinks that the retail banks are going to let such a clunky, parasitic, flea-sized, “merchant of sorts” middleman such as PreyPal—who after all does no more than ride, precariously, on the back of those banks’ own payments processing systems—continue to nibble away at one of the banks’ principal areas of business for any length of time, all I can say is, dream on … PreyPal is little more than a clumsy, fraud-enabling middleman the use of which also nullifies the statutory protections that, in many countries, would otherwise be available to users paying directly via a real bank’s credit card. Then there is PreyPal’s current testing of “mobile payments” at POS in Home Depot stores. Are people actually leaving their funds “on deposit” with this clunky, unlicensed, prudentially unregulated, PayPal “non-bank” that is itself not even licensed to provide credit? Otherwise, how are the funds for such mobile payments being sourced by PreyPal from the payer’s real banking account in a way that the merchant can be sure of ultimately getting paid by PreyPal? Not with the standard non-guarantee of payment that PreyPal serves up to its online merchants, I hope. And, unfortunately for eBay’s chief headless turkey, Visa’s professional online offering “V.me”, when it is up and running later this year, will undoubtedly put paid to whatever success that the clunky PreyPal has had with professional online merchants outside of its mandated use on the eBay Marketplace. And soon thereafter both these unscrupulous and clunky entities should commence/continue their long-deserved journeys down the gurgler. Scott Thompson saw the writing on the wall; John Donahoe remains delusional, that fact confirmed by the reported sightings of him waving his mobile phone about and mumbling about UFO sightings over San Jose. “How secure is PayPal for sellers?”—UK “Guardian” How secure is PayPal for sellers? | Money | The Guardian And an interesting follow up to this UK "Guardian" article at: /b?s ?tj?̃ no ?se ??/ (hadess) | News: Getting conned: eBay/Paypal fun “Vendor Claims eBay Plays Dirty” (Who could have believed it?) Courthouse News Service “Seller Files Suit Against eBay” (eBay’s “Featured Plus” scam) Seller Files Suit Against eBay | The Online Seller “New Developments in PayPal Class Action Lawsuit over Payment Holds” New Developments in PayPal Class Action Lawsuit over Payment Holds “PayPal: The Horror Stories” (What, more?) EcommerceBytes Discussion Boards Scott Thompson abandons the struggling eBay for the struggling Yahoo EcommerceBytes Discussion Boards PayPal claims PayPal not a debit card or payment network! EcommerceBytes Discussion Boards eBay / PayPal / Donahoe: Dead Men Walking  
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