This was our core market, and we had no alternative markets of sufficient scale that were likely to succeed in a sufficiently short time horizon. There were two key reasons we decided to sell to eBay:Ī) Peter and Roelof studied eBay's core marketplace and came to the conclusion that it was stagnating. Wikipedia)Īnswer by Keith Rabois, Internet entrepreneur, investor, and contrarian, on Quora Today, because of PayPal's success, it's easy to look back and say that we should have gone for it, but at the time it certainly seemed like a tough slog.Įnglish: Ebay and PayPal headquarters located in San Jose, California, USA. The alternative to an acquisition was continued fighting on all of these fronts with a somewhat exhausted team. The team had been run down by years of fighting the "PayPal Wars." Today, PayPal is a massive company that faces none of the risks above, but at the time the outcome was far from assured. This was reversed, but the legal issues seemed never ending. We already had some experience with this: the State of Louisiana had previously shut down PayPal for a week due to the arbitrary decision of some bureaucrat (I forget why). This was inevitable even without the acquisition, but as a stand-alone company PayPal would have been an easier target for politically-minded prosecutions. In conjunction with the eBay acquisition, PayPal announced that it was prohibiting these transactions. Although this was perfectly legal at the time, a number of state attorneys general (including Eliot Spitzer) were looking to make a name for themselves by investigating whether PayPal was "aiding and abetting" online gambling. PayPal had begun to be used by a substantial number of online gambling sites. From a UI perspective, this was an ideal outcome we were always concerned that it was subject to change. Quasi-cash is one of the options not surprisingly, users never check it. To this day, you can see the result of our negotiations with the card associations in the "Send Money" flow on PayPal, which asks the user to categorize what the money is being sent for. Avoiding this categorization was a constant battle. Order processing software can synchronise your orders from multiple eBay accounts into one system, automating your order status updates through an easy to use pick, pack, despatch operation.A subtle way for Visa and MasterCard to squash PayPal would have been to categorize all PayPal payments as "quasi-cash" (a form of currency), which has huge fees associated with it. Having followed these simple steps, you can now boost your eBay sales by taking advantage of PayPal’s popularity and simplicity, but how do you manage the increasing number of orders? You may want to consider using order processing software, such as Khaos Control. You are fully verified as soon as your profile is at 100%. To verify your account, you need to log in to PayPal and follow the instructions on your Summary page to complete your profile. Verifying your PayPal account will also allow you to sell internationally. This means that you’ve confirmed your identity with both eBay and PayPal and will allow you to raise your sending and withdrawal limits. Clicking on the first option, “see your PayPal account summary” will take you through to your linked PayPal account.Īs a final step, you should verify your PayPal account. Within the Account tab, click PayPal Account and you should find yourself at a screen with PayPal account information at the top. If you already have a PayPal account linked to eBay but you can’t remember which account it was, you can find out by going to My Ebay.
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