Topic: Possible reasons why PayPal dropped Facebook’s Libra membership - page 2. (Read 222 times)
October 06, 2019, 10:51:46 AM
The negative sentiments are not permanent. Everybody admits future is of crypto. IMO the prime reason of Paypal leaving Libra is due to the insignificant position of Paypal in such a large project. Paypal is a huge company and it doesn't want to be a backer when it can actually lead the market. Paypal has more experience on payments than Facebook does and it can easily create an alternative to Libra when it decides necessary.
October 06, 2019, 10:36:36 AM
I guess its the right decision for Paypal isn't it?
I mean why taint their names today, maybe there are other ways to make money here and perhaps there is a possibility that they will have their own tokens in the future that could also rival Libra that's why they opted not to join force with them.
They need to under go that audit first specially with the accusations that they are being used for child exploitation and money laundering scheme. So let's see how it turns out. Clean up their dirty laundry first before they support crypto because I'm sure regulators are going to scrutinised them just like what they are doing today with Facebook's Libra.
I mean why taint their names today, maybe there are other ways to make money here and perhaps there is a possibility that they will have their own tokens in the future that could also rival Libra that's why they opted not to join force with them.
They need to under go that audit first specially with the accusations that they are being used for child exploitation and money laundering scheme. So let's see how it turns out. Clean up their dirty laundry first before they support crypto because I'm sure regulators are going to scrutinised them just like what they are doing today with Facebook's Libra.
October 06, 2019, 10:09:01 AM
We haven't seen the impact it created although too early to tell, no one's following Paypal's action so far and based on the news they are just protecting their interest because of their ongoing tie-up with Go pay, if there is no GoPay tie, Paypal will continue to be in the group, this is how business works they do not want to ruin the big deal, and they will go for the biggest profit and GoPay can bring them good profit.
October 06, 2019, 10:02:33 AM
Possible reasons why PayPal dropped Facebook’s Libra membership
https://cryptopurview.com/possible-reasons-why-paypal-dropped-facebook-libra-membership/
Very interesting, but I think the reason is that Paypal doesn't want their name to be associated with Libra right now because of the negativity around this project. A lot of negative sentiments around this project even prior to the release.
And they Paypal have established themselves already and they don't want their good name to be with some product that has a lot of adverse reaction that can have a domino effect on their name in the future.
Interesting information maybe thats the real reason or not! one thing is for sure the Paypal decision to drop the Libra project is for the company own sake they are avoiding the regulatory issues that involving around the Facebook cryptocurrency Project called Libra and if the article was true its a wise decision on Paypal's side to pursue the Paypals ambition to enter the chinese Market. Quote
PayPal seeks China market entry
Just last week, PayPal Holdings Inc. obtained approval from Chinese regulators to purchase a majority stake of a local payment processing firm, GoPay Information Technology. As a result of this acquisition, it would make PayPal the first foreign company to make an entrance into China’s payment services market.
PayPal Payment platform potentially used by child exploitation rings
Another possible explanation could be due to wide attention Facebook’s Libra project has gather. Since the launch, governments and regulators around the world have backlashed the initiative and calling for a halt until all regulatory concerns have been addressed.
PayPal may be concerned that by formally signing membership in Facebook’s Libra association may put them into the regulatory spotlight. So why PayPal does n’t want that.
Apparently there are claims that PayPal’s payment platform is used for money laundering. The firm is undergoing investigation by AUSTRAC for its fund transfer platform used by child exploitation rings in Asia.
Just last week, PayPal Holdings Inc. obtained approval from Chinese regulators to purchase a majority stake of a local payment processing firm, GoPay Information Technology. As a result of this acquisition, it would make PayPal the first foreign company to make an entrance into China’s payment services market.
PayPal Payment platform potentially used by child exploitation rings
Another possible explanation could be due to wide attention Facebook’s Libra project has gather. Since the launch, governments and regulators around the world have backlashed the initiative and calling for a halt until all regulatory concerns have been addressed.
PayPal may be concerned that by formally signing membership in Facebook’s Libra association may put them into the regulatory spotlight. So why PayPal does n’t want that.
Apparently there are claims that PayPal’s payment platform is used for money laundering. The firm is undergoing investigation by AUSTRAC for its fund transfer platform used by child exploitation rings in Asia.
https://cryptopurview.com/possible-reasons-why-paypal-dropped-facebook-libra-membership/
Very interesting, but I think the reason is that Paypal doesn't want their name to be associated with Libra right now because of the negativity around this project. A lot of negative sentiments around this project even prior to the release.
And they Paypal have established themselves already and they don't want their good name to be with some product that has a lot of adverse reaction that can have a domino effect on their name in the future.
October 06, 2019, 09:12:13 AM
That is new for me, this could be the biggest reason why PayPal leaves Libra. It is understandable why PayPal made a quick decision in leaving the alliance after the approval because the regulation backlash might affect the partnership with Chinese regulators and at the same time it could rise opinions from the public by associating with cryptocurrency.
just like what we heard about cryptocurrency, money-laundering, and terrorism.
PayPal made a decision to join Libra because cryptocurrency is used popularly to make transactions and they want to compete in the industry,
and now after they secured their spot. Everything else does not matter.
just like what we heard about cryptocurrency, money-laundering, and terrorism.
PayPal made a decision to join Libra because cryptocurrency is used popularly to make transactions and they want to compete in the industry,
and now after they secured their spot. Everything else does not matter.
October 06, 2019, 08:55:18 AM
Possible reasons why PayPal dropped Facebook’s Libra membership
https://cryptopurview.com/possible-reasons-why-paypal-dropped-facebook-libra-membership/
Very interesting, but I think the reason is that Paypal doesn't want their name to be associated with Libra right now because of the negativity around this project. A lot of negative sentiments around this project even prior to the release.
And they Paypal have established themselves already and they don't want their good name to be with some product that has a lot of adverse reaction that can have a domino effect on their name in the future.
Quote
PayPal seeks China market entry
Just last week, PayPal Holdings Inc. obtained approval from Chinese regulators to purchase a majority stake of a local payment processing firm, GoPay Information Technology. As a result of this acquisition, it would make PayPal the first foreign company to make an entrance into China’s payment services market.
PayPal Payment platform potentially used by child exploitation rings
Another possible explanation could be due to wide attention Facebook’s Libra project has gather. Since the launch, governments and regulators around the world have backlashed the initiative and calling for a halt until all regulatory concerns have been addressed.
PayPal may be concerned that by formally signing membership in Facebook’s Libra association may put them into the regulatory spotlight. So why PayPal does n’t want that.
Apparently there are claims that PayPal’s payment platform is used for money laundering. The firm is undergoing investigation by AUSTRAC for its fund transfer platform used by child exploitation rings in Asia.
Just last week, PayPal Holdings Inc. obtained approval from Chinese regulators to purchase a majority stake of a local payment processing firm, GoPay Information Technology. As a result of this acquisition, it would make PayPal the first foreign company to make an entrance into China’s payment services market.
PayPal Payment platform potentially used by child exploitation rings
Another possible explanation could be due to wide attention Facebook’s Libra project has gather. Since the launch, governments and regulators around the world have backlashed the initiative and calling for a halt until all regulatory concerns have been addressed.
PayPal may be concerned that by formally signing membership in Facebook’s Libra association may put them into the regulatory spotlight. So why PayPal does n’t want that.
Apparently there are claims that PayPal’s payment platform is used for money laundering. The firm is undergoing investigation by AUSTRAC for its fund transfer platform used by child exploitation rings in Asia.
https://cryptopurview.com/possible-reasons-why-paypal-dropped-facebook-libra-membership/
Very interesting, but I think the reason is that Paypal doesn't want their name to be associated with Libra right now because of the negativity around this project. A lot of negative sentiments around this project even prior to the release.
And they Paypal have established themselves already and they don't want their good name to be with some product that has a lot of adverse reaction that can have a domino effect on their name in the future.
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