What is Digg?108 Comments
- rpi22, on 01/24/2008, -4/+133i hate paypal
- inactive, on 01/24/2008, -1/+38Having been frozen by Paypal 2 times, once for 7 weeks due to BS issues, I hope the Noca kicks their ass.
- Somnabot, on 01/24/2008, -0/+36http://paypalsucks.com/
- HHP2K, on 01/24/2008, -2/+37It's always nice to see a fresh idea born from something so obscure that we rarely think about... until the five billion dollar figure comes into play. That truly is a lot of money. If this system does work, it'll be promising. However, don't just think everyone is going to drop Paypal. Paypal's success rides on the integration with eBay and being the classic first-on-the-scene contender. It's not going away any time soon.
- sockpuppets, on 01/24/2008, -0/+27I remember complaining to a friend of mine that's high on the food chain at eBay about my account getting frozen and the amount of money it cost me to process orders. I was doing *very well* running an honest business on the side, but by the time my paypal account was unfrozen I was completely ruined. When paypal freezes your account it also freezes your ability to ship via their shipping system- orders that once took seconds to process now took 10. As a consequence orders wound up shipping late, positive feedback became negative feedback then eBay suspended my eBay ID because of it, causing everyone to chargeback their purchases because they thought they were being ripped off. Of course I had already manually processed their orders, so I wound up sending out hundreds of orders for free. Instead of making thousands I lost thousands.
The reason for my suspension? My business grew too fast, I took in too many payments, triggering some fraud alert. Even after faxing my drivers license, social security card and utility bill in I didn't hear from them for weeks.
Back to that eBay executive- he was very, very high in the food chain and even *he* had to wait a couple weeks to get his issue resolved. You know if he's unable to penetrate the bureaucracy over there then it's hopeless. Feel free to use paypal but don't put money in there you're not willing to lose- paypal is unregulated and has no oversight, it is literally at their discretion that you're allowed to access your funds. - rarson, on 01/24/2008, -0/+26Thank god. I can't bring myself to even use Paypal anymore because it's so damn easy to get screwed. Paypal's conflict resolution is a complete joke.
- SuckMyDigg, on 01/24/2008, -0/+23I should hope Noca does it right. If they do PayPal will certainly die quickly. They've been abusing their power as the major online money exchange since their inception. There are a LOT of angry people out there who PayPal has stolen money from.
- p0tent1al, on 01/24/2008, -0/+15Good riddance.
PayPal takes huge cuts of your money, they have horrible customer service, and they frequently lock you out of your account when you need it the most. Their attitude is pretty much "We don't give a ***** about you". - sockpuppets, on 01/24/2008, -0/+14%#%$Q edit button. My point of speaking about the eBay executive was that even he had an account that was frozen for weeks..
oh and 10 = 10 minutes. - Somnabot, on 01/24/2008, -0/+12F!@#$ Paypal. I've been frozen 3 times.
- pintomp3, on 01/24/2008, -1/+12bypassing the credit card companies? that sounds like terrorism. expect legislation banning it.
- MadMalc, on 01/24/2008, -1/+11Sounds lie a long overdue winner!
- rediculous, on 01/24/2008, -1/+11Why did it take so long for someone to come around and blow PayFoul out of the water?
- sockpuppets, on 01/24/2008, -0/+9Because it's an 8000 pound gorilla that's attached to ebay like it's a 10000 pound banana.
- sandeeptec, on 01/24/2008, -2/+10i hope it will bring new hopes who are frustated with existing players
but it must be certified by some internationa/govt. body
Best of Luck to Noca! - MforMike, on 01/24/2008, -0/+7Paypal subscriptions have screwed me over so many times.
- incaseyoucare, on 01/24/2008, -0/+6 They have an address a location map and a phone number listed on their site. So, I called at 12:30 AM and someone answered the phone--thats crazy. Have you ever tried to call paypal on the phone?
I remember back in the day paypal had absolutely no customer service much less a phone number. I dont know if paypal has improved much but I dont really care to find out. I had one to many frustrating experiences trying to fix transaction problems with paypal. I mean they're the biggest freakin online payment service but they had no customer service line. Now before I sign up to any online financial service I make sure to call them and see if there is actually people behind the website. You'd be surprised how many financial sites, especially online brokerage websites have practically no human customer service. Hopefully Noca wont go there. Unfortunately I wont be using Noca much, because, thanks to paypal, if a website doesn't have a merchant account and I cant pay by credit card I'm probably not buying from them. - wonderchemist, on 01/24/2008, -1/+7I'm sure the scammers will find a way to ruin it for the rest of us.
- NsinU8, on 01/24/2008, -0/+6Unless they have a worthy Ebay competitor and 10 million to market the auction site it in their pocket its not gonna work for auctions. Ebay will find some reason, quoting "security" i'm sure to not allow it on ebay.
- Wander2000, on 01/24/2008, -0/+5Don't kid yourself on PayPal, eBay owns it, don't expect eBay to be accepting any type of on-line payment other than PayPal. That is probably illegal by not allowing competition. I'm sure one day someone will sue them about that.
- Cymrubeats, on 01/24/2008, -1/+6Apparently google checkout was going to take over too...paypal may suck, microsoft may suck, fox may suck etc etc, but when something becomes as intergrated with society, and so established, you'll need to give your services away to even scrape second place.
- rarson, on 01/24/2008, -0/+4Screw Paypal. The only reason I still have an account with them is because I've been waiting for something better. Their resolution of conflicts is enough to dump them as fast as ***** possible. I don't even trust the service anymore, it's far too easy to get screwed over using Paypal.
- understudy, on 01/24/2008, -2/+6I don't like PayPal either (we've all heard the horror stories), but I'm not super keen on this either. From the article: "To make money, Noca will also attempt to leverage its user data to target them with tailored advertising and product deals."
Making your entire purchase history transparent to any and all marketing partners isn't an attractive option for many consumers.
_ - qwertyuio, on 01/24/2008, -0/+4So no one else can access your money... It seems like half the people here complain about getting identity thefted, and the other half are asking for LESS account verification.
- praisethelard, on 06/06/2008, -0/+4To be fair, if I had a 10,000 pound banana I wouldn't let anyone have a bite, either.
- Somnabot, on 01/24/2008, -0/+4http://paypalsucks.org/graphics/PPS-Cartoon1.gif
Noca FTW! - goofygarber, on 01/24/2008, -1/+5So, how's Greenzap doing?
This won't replace PayPal, just like Google Checkout didn't replace PayPal (neither are/were intended to) - polymorph505, on 01/24/2008, -0/+4Legally even if you opt-out of information sharing between third parties and affiliates (at a real bank), they can still share your information for marketing purposes.
- hddigger, on 01/24/2008, -1/+5Paypal isn't going anywhere. Ebay will just ban this payment method like they have every other competitor to paypal.
- iBlush, on 01/24/2008, -0/+4If it uses routing numbers and checks, it is not going to work internationally, which is a huge disadvantage. PayPal at least can be used throughout the world. I think one option would be to internationalize Online Banking, which, at least in the EU, is already pretty cheap, efficient and soon to be used across the entire union.
http://en.wikipedia.org/wiki/Single_Euro_Payments_ ... - Arkaris01, on 01/24/2008, -0/+3I agree. "significantly not as described" = auto loser for the seller. We have basically stopped selling on ebay due to those problems. It appears Ebayers have figured this routine out.
- JGent, on 01/24/2008, -0/+3Whats your point. You saying he was foolish for allowing paypal the access that you have to grant them to use the service?
- livejamie, on 01/24/2008, -1/+4I wonder how long until eBay bans them, if they haven't already.
- akash8m, on 01/24/2008, -0/+3Somebody should file a lawsuit against Ebay for restricting Paypal as the only payment method. They make money so many different ways. I love Google Checkout with low fees and anonymity from the sellers. For Charity organizations Google Checkout has no fees. I hope this new service is good and cheap, since they eliminate credit card services.
- ad33lshahid, on 01/24/2008, -0/+3paypal took 150$ out of my account because of some beef with the buyer. not to mention the 3-5% cut they take anytime i sell anything on eBay... bunch of thieves
even if Noca doesnt overtake Paypal, itd be nice to have some competition so that maybe they decrease their transaction fees or increase customer service. - Mysk, on 01/24/2008, -0/+3Exactly. I've read so many horror stories about PayPal that I refuse to keep more than $40 in there at any time, but I try to make a habit of sweeping it to my bank account at about $20.
- inactive, on 01/24/2008, -0/+3Paypal is good only connected to a credit card. Thus you can go to the credit card company if you have a problem. Once you give them your checking account number, expect them to take whatever they want, when they want and freeze it as long as they want. ***** paypal.
- spyd3rweb, on 01/24/2008, -1/+4So long, and we wont miss you paypal.
- Valane1984, on 01/24/2008, -0/+3It's about time!
I hate the amount of money i end up giving to paypal, i thought google checkout would help but they turned out just as bad... - RiPPn, on 01/24/2008, -0/+3Being that eBay purchased PayPal, and PayPal is their own entity there is no way it is going anywhere, the only thing that will happen is if so many people defect to a competitor it may force eBay to offer the alternate, but I don't see that happening. What would be nice is someone could come up with an auction site to compete with eBay and force them to lower the ridiculous fees, until then eBay/PayPal is essentially a monopoly.
- aladrin, on 01/24/2008, -1/+3Okaaaaay... How do we know this is legit? How do we know this won't be -exactly- like PayPal where they seize money whenever they feel like it, or lock accounts on a whim? How do we KNOW?
- moontime, on 01/24/2008, -0/+2Paypal is owned by Meg Whitman, who supports Mitt Romney. There are probably problems with any kind of service like this. you can't really trust any of them.
- yabos, on 01/24/2008, -0/+2Paypal can also use your bank account to take money from and not CC. My account actually seems to prefer doing it that way. I welcome the competition though because Paypal's customer service is complete crap and their idea of dealing with problems is just ignoring them until they go away.
- Zippo, on 01/24/2008, -2/+4So long as PayPal stays sweet with eBay and online shopping websites, it isn't going anywhere.
I, personally, have yet to have run into a single issue with PayPal... but I've certainly heard plenty of horror stories. Guess I've been lucky. - weyseal, on 01/24/2008, -0/+2It's good to know I wasn't the only one scammed by Paypal. I can't wait for strong Paypal competitors.
- voetsjoeba, on 01/24/2008, -0/+2Don't worry, you will. It took me 4 years to run into a PayPal issue, but you're certain to run into one sooner or later.
- inactive, on 01/24/2008, -1/+3paypal is a joke, it took them two credit cards, two checking accounts, a phone verification, and a letter mailed to my house to verify my address so that I could access my money. Why??????
- coolbru, on 01/24/2008, -1/+3I don't know quite which planet you're on, but PayPal is pretty much the cheapest payment gateway around. We did have a real merchant account through our business bank, but it was so expensive (> 8%) we packed it in and switched to PayPal.
- silvanov2002, on 01/24/2008, -0/+2Dugg, because it seems like a good idea, and allows people that dont have credit cards the ability to purchase goods online, that they couldnt have otherwise, using their checkbook. Hopefully it reaches mainstream adoption, so as to have a worthy competitor to paypal.
- Arkaris01, on 01/24/2008, -0/+2....while they are in America it will work fine. In the article they talked about using bank login information. Once they go global they will change to fit the global market. The whole idea of using router numbers... now get this... is to stay small. A very tiny niche market, so they can grow a little and make sure the model works. Once they know the model works then they can start to incorporate larger transactions, and then world transactions.
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