US banking money services competing with PayPal

SMB-2525

full member

Activity: 195

Merit: 100

Quote from: tooil on August 14, 2014, 08:02:14 AM

Paypal has Ebay advantage.

Until bitcoin has its own version of auction type platform, Paypal will still reign supreme.

Trust continues to be a problem. Paypal includes a form of escrow and chargeback protection. In bitcoin transaction, we use a manual escrow process or trust someone to go first. The lack of trust in the bitcoin world is indicative of the amount of fraud that goes on.

tooil

full member

Activity: 181

Merit: 100

Paypal has Ebay advantage.

Until bitcoin has its own version of auction type platform, Paypal will still reign supreme.

SanMerryDro

member

Activity: 80

Merit: 10

Bitcoin will competing both PayPal and all US banks.

Mobius

hero member

Activity: 988

Merit: 1000

Quote from: Marbit on August 08, 2014, 03:51:13 AM

So we're just talking about intra-bank transfers? They've been around quite a while. Chase Quickpay is the worst in regards to chargebacks, from what I've always heard. BOA and WF internal transfers are more difficult to reverse, IIRC and in my experience.

The ideal, if there are bank branches in both localities, is to do a cash teller deposit. There is no possibility of reversal that way.

I would think that most bank transfers (internal transfers) would be more or less the same in regards to charge-backs. They probably need the same kind of evidence to initiate a charge-back. In my experience PayPal has a very low burden of proof for a charge-back.

cinder

full member

Activity: 153

Merit: 100

Which one is cheaper for international payment and transfer?

And what is the requirement for the receiver in term of bank account?

Sharky444

hero member

Activity: 724

Merit: 500

Google wanted to compete with Paypal, and nothing came out of it.

Marbit

hero member

Activity: 686

Merit: 500

So we're just talking about intra-bank transfers? They've been around quite a while. Chase Quickpay is the worst in regards to chargebacks, from what I've always heard. BOA and WF internal transfers are more difficult to reverse, IIRC and in my experience.

The ideal, if there are bank branches in both localities, is to do a cash teller deposit. There is no possibility of reversal that way.

haploid23

legendary

Activity: 812

Merit: 1002

These types of online transfers has been around for a while. It's just as unsafe as using paypal when it comes to buying/selling btc.

It's only free if you transfer to someone with the same bank. Otherwise, there are fees higher than paypal. I believe Chase quickpay can ONLY be sent to another Chase account.

Jamacn

full member

Activity: 236

Merit: 100

PayPal is US too

SMB-2525

full member

Activity: 195

Merit: 100

It seems the US banking sector is organizing itself to compete with Paypal.

Popmoney participating banks: https://secure2.popmoney.com/richux/faces/base/popmoney/prelogin/searchBank.xhtml

BOA, Wells and Chase have a system

Chase has its own

all of these are currently free to senders and recipients.

Is anyone using these services to buy or sell bitcoin (I am interested in buying a bit)?

All of these require both parties to register similar to Paypal. The sender sends the money to a registered phone number or email address. Not sure how they work for international transfers. I noticed them when I was preparing to transfer money to a friend.

Topic: US banking money services competing with PayPal (Read 1153 times)