Is PayPal The Fifth Credit Card?
from the but-not-a-bank dept
After working incredibly hard in the legal arena to make sure that they weren’t declared a bank, PayPal is now doing much more to appear bank-like to websites that want to take transactions. They’re implementing a series of web services designed to make it easier to incorporate a PayPal option for commerce sites, along with traditional credit cards. Of course, some are pointing out that the demand just isn’t there for such things. The end-users don’t see much benefit if the site already has a merchant account and can offer credit card payments. There isn’t much of a benefit to end users to use PayPal when they can just as easily use a credit card. The only advantage is to sites that can’t afford or don’t want a merchant account of their own – and they’re probably already using PayPal.