What’s Killing Paypal’s Growth?
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- Опубліковано 13 чер 2024
- Paypal is a powerhouse in the digital payment industry with a market valuation of over $84 billion. But the company’s stock performance has suffered immensely over the past few years. After reaching new heights during the pandemic, shares of the company saw significant losses. In February, Paypal also announced it would lay off 2,000 employees, accounting for about 7% of its workforce. So what is happening with Paypal? And can its stock recover?
Chapters:
00:00 - Introduction
01:26 - Early successes
04:52 - Economic climate
08:06 - Future of the business
Produced & Edited by: Juhohn Lee
Animation: Gene Woo Kim
Supervising Producer: Lindsey Jacobson
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What’s Killing Paypal’s Growth?
Federal Reserve may soon lose control of interest rates, claims Heresy Financial. This comes as a result of the United States government's intention to embark on a $1 trillion borrowing spree. This might cause the banking sector to lose so much liquidity that rates spiral out of control and are no longer in the control by the federal reserve. I'm sorry to say that despite investing, I lack the mental capacity to evaluate each company's performance and decide whether or not now is a good moment to acquire stocks. My reserve of $650K is being wiped out by inflation and the recession. Sincerely, I have no idea what to do.
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We're only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08' crash and I've been looking into similar opportunities in this present market, could this coach that guides you help?
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I remember when Paypal announced that they would charge people up to $3500 for posting 'misinformation' online, and then their stock dropped like, 30% in a day. Extremely oppressive stuff.
right , after that i turned my back on this stock
So That's CLEARLY Why...They've Done It To Themselves!!...
Wouldn't touch PayPal as a biz because of this.
They have an idiot CEO
Don't forget Paypal also has a history of shutting down people's accounts and pocketing the money themselves if they don't like you for whatever reason.
Why any SMART person at this point would ever even want to use Paypal now I'll never know.
Basically foreshadowing on why money should never be completely digital and controlled by one central bank.
1. Expense fees are outrageous
2. They hold onto to sellers money way too long despite buyers receiving package days ago.
3. Fake invoices have plagued their system.
These are solid points. It also shouldn't be ignored the recent surge in credit & installment type payment options at checkout.
2. buyer file for dispute saying package is damaged/stolen/wrong, paypal give them back money and seller take the L
For real they are a garbage company. Let's also mention their dividend is at 0%.
They are quite uncaring about their sellers and take huge fees. The buyer can steal your stuff and get a refund 100% of the time.
@@angryidahobusdriver Their stock is down 80% from the highs
The fact that they’re a redundancy in the payment industry and they make it a headache for customers to get their funds
I absolutely agree. I sold something to someone three weeks ago and they still have my money on hold. I’m going to have them delete my account once I get my funds.
Also I can't access my account being don't have my old phone number. I tried reset my password but u need the old fn phone number. Why can't I do through my email.
@@Firebacon1gg Exactly! It's 2023 there's no excuse to not have a email verification option.
Only people who still use PayPal are over the age of 40 because they love emailing EVERYTHING including payments. It’s so old and antiquated…
@@brandonleesanders you dont seem to understand how any of this works . please read a book get educated than come back and post
Been using PayPal for years. Stopped last year due to absurdly higher fees and the fact there so little transparency when it comes to their fee structure, almost impossible to find.
I haven't used it in a decade. The fees are absurd
Left paypal for Wise. Paid a 1 cent fee to send money to Australia with a fair conversion rate. It arrived in 30 seconds. PayPal is definitely something from the past
Fvck pal pay, they said they can "fine" you for political beliefs and take money directly out of your bank account
Because the American Rescue Plan. Sell anything more than $600+ needs a 1099-K end of the year vs 2020 when the limit was $20000
I used to deal with them for years and then they started requiring more personal info as if they're like the IRS. I stopped using them !
Um, has everyone forgotten when PayPal threatened to fine its members $2500? That and the fact that PayPal accounts are getting hacked all the time and PayPal customer service is no help. I deleted my PayPal account in 2022 and haven’t looked back
That’s why I cancelled my account.
I was using PayPal credit for the longest (2010) and one day my payments stop going through for some odd reason.. so I contacted paypal saying to me nothing is wrong on their end but something wrong with my banking account and I know doggone well nothing was wrong with my bank account because I was able to make payments on other things. after a few more attempts to make payments PayPal lock my account and threatened to send me to collections after that this was the final straw. I decide to use my credit card and pay off the whole PayPal credit and haven't use their credit ever since almost 2 years ago
Same. Imagine giving your money to people who want you bankrupt for thoughtcrime.
Thrratened? They wiped my account, stole 4k from my account due to false aup violations
@@roxanasupermayer same, stole some Ks from my account too, cancel it and getting better deals from revolut venmo
We should definitely keep using the pandemic as a performance reference point, it being so typical of regular times.
Yeah, a service that allows you to transfer money to other people over the web was obviously going to rise and fall with the pandemic. I don't understand how PayPal normalizing after the worst of the pandemic was over is suddenly a problem...
Welcome to the new normal
Are we saying ppl have gone back to paying cash online. lol.. Great reasoning shorts. 😂
I see this so much recently. Humans are stupid.
@@Fools_Requiem because capitalism
Their terrible business practices don't help.
I stopped using PayPal when they backed an unscrupulous online retailer on the sole premise that the transaction was valid. My credit union stepped in and fixed it for me.
your alternative?
@@NiaArifah-br6cr My credit union offers several alternatives to send cash and/or purchase items. PayPal is dead weight.
Same here. They backed Chinese scammer I had to get my credit union involved
@@vladlozo1111 yeah, you’ll have Chinese scammers set up complete websites that are full up business just long enough to grab some transactions and then shut down and run away with your digital cash.
Yes it's not a good company
People in USA seems to forget that Paypal also used in other countries. The fee is way too high for most people. Now there are a lot of better alternatives for receiving or sending money with less fee than Paypal. Also, their rules sometimes falsely flag honest users for just trying to get their money. Recovering frozen account also very troublesome for non English speaker. Paypal is the last resort for receiveing money now, more and more users will strop using it.
It is impossible for me to recover my account. It is stuck in a bugged state and numerous attempts at getting support leads to script readers reading me their script and making zero effort to send my issue to people who actually know what is going on. It forced me to look for alternatives and now I'm never going back. Not that I can go back... Since they won't fix the damn issue...
yea, they should get rid of the “fixed fee”, and then reduce the service charge to less than 1 % .
People in the US seem to forget how PayPal turned political and froze accounts of citizens based off of their political affiliation.....
Fvck pal pay, they said they can "fine" you for political beliefs and take money directly out of your bank account
I’ve heard about this too. I think it’s strange that this video is not covering it.
As a power PayPal user in the past, I can answer this without even watching the video.
The fees that PayPal charges, are FAR IN EXCESS of what fees would be charged from other services such as (Transfer)Wise. Wise fees are $4 to transfer USD$15,000 to me in Canada, whilst those fees through PayPal would be in excess of $500!!!!!
But no protection from wise?
They treat sellers like dirt....its as simple as that.
Exactly! It's pathetic.
they fail to understand who feed them in the first place, not the buyers, but the sellers
And clients who send money to pay also. I boycott them for life now. They have ruined their reputation. I hope they go bankrupt ! Bad management, awful customer service when it's open, which is not often. Very bad company
The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
Find a way to take advantage of the current market condition, it seems that we are moving in the same direction as Venezuela and that will not be good for anyone.
You will need a strong FA to help you through the current market turmoil. I've been talking to an advisor for a while now, mostly because I lack the knowledge and energy to deal with these ongoing market conditions. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.
@@KevinEvans-mq4ob Admittedly, accumulating wealth is just a matter of information. I am aware of numerous individuals who benefited financially from both the Dotcom and the 2008 crashes, and I have looked into comparable opportunities in the current market. Could the person who directs you be of assistance?
@@lindsayross-pt3jv ELISE MARIE TERRY is my financial advisor. She was featured in a CNBC interview, where I discovered her, and I contacted her later. Since then, she has given me entry and exit points for the stocks I am interested in. If you want to make a fast online search using her name, feel free. I essentially follow her market decisions and haven't felt bad about it.
@@KevinEvans-mq4ob She presents as a definite authority in her field. When I searched for her online, I discovered her website, which I reviewed and went through to learn more about her credentials, academic training, and professional history. She has a fiduciary responsibility to me to act in my best interests. To use her services, I scheduled a time. The key is having "access to inside information that the public is not aware of."
One client wanted to pay via PayPal and sent $600/mo until his balance was paid. PayPal took out almost $20 each time (for the "privilege" of receiving money through their service). $150 in total fees for eight payments. Ridiculous. I absolutely hate accepting money through PayPal.
Don't do it then. I stopped and it was the best decision in my life. Never had any clients complain to much. Especially with all the available options.
Fvck pal pay, they said they can "fine" you for political beliefs and take money directly out of your bank account
@@antons1097 70% went to competitiona nd 30% is now in crypto payments. Paypal no longer playes the role
get a wise or revolut account
After your documentary, PayPal shares went down by about 10%
Hopefully they go bankrupt for treating their users so bad
The most important thing that should be on everyone's mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.
Is this a serious question? Honestly, I thought this company would go out of business years ago.
What's killing PayPal is the fact that they are now all IRS agents.
🤣
Paypal is a terrible option for merchants. They are expensive and unpredictable, often placing 6-month or longer capricious holds on merchants' accounts. And they make it so easy for scammers to cheat merchants with fake returns and a variety of other methods. I stopped accepting Paypal 4-5 years ago and switched to Stripe. Smartest business decision ever!
Good decision
PayPal has threaten people with stealing their money (=fining) for "inappropriate" activities unrelated to PayPal. Maybe that has caused the fall.
It's PRECISELY What That Is...Bloody KARMA For Such Rubbish...Hopefully They'll Learn Now!...
NOT The Way To Treat Loyal Customers...Current & Potential...Who Are Trying To Enjoy PayPal!...
All those expensive fees
and treat sellers like crap
If seventeen billion in profit is not enough there's a problem
precisely this.
nobody is replacing paypal, they're just becoming irrelevant and unnecessary when credit card processing is cheap and a cryptocurrency revolution is looming just around the corner.
They greedy asf
@@DrLeePhD crypto is sham though
@@ijazm Replacements for paypal are here. Crypto is not one of them.
@@ijazm it’s not a sham, it’s a technology that is can be used for usefulness or fraud. Like the internet, it can be useful or dangerous. Don’t dismiss a technology’s usefulness because it has dangers. We will develop regulations and safety knowledge around it like we did with all human technologies that have mischievous uses like the internet, industrial machinery, fire, etc.
It was a very bad decision to remove the Glass-Steagall Act in the late 1990s, which led to the spectacular failure of huge banks during the financial crisis of 2007-2008. To prevent another disaster, Dodd-Frank and this statute both need to be reestablished right away. What happened with SVB is only the beginning of what will happen if nothing is done to address the current situation.
In my opinion, SVB was attempting to restructure their bond portfolio, which involved selling their low-yielding bonds despite the potential loss, and compensating for it by buying higher-interest-rate bonds on the open market.
@@trazzpalmer3199 Only a good FA will be enough to guide you through the current market volatility. I've been speaking with an advisor for a while now, primarily because I don't have the necessary expertise or stamina to handle these recurrent market conditions. The fact that I made over $220K during this downturn proved that there is more to the market than the typical person is aware of. The greatest course of action right now is to have an investing consultant, especially for people who are nearing retirement.
@@tampabayrodeo2474 We’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides you help?
My Financial Advisor is JEANNE LYNN WOLF. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can run a quick online research with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so.
Right now, I'm literally hanging on by a straw, so your advice couldn't have come at a better time! I'll look her up on the internet and then give her a call.
It’s 2023; I don’t really see them as unique any more. There are so many options now
Personally I refuse accepting payment with any electronic payment system except for paypal. All facebook marketplace sales are in hard cash. If you are unable to turn what ever electronic payment system or BS pseudo echecking account into cash then you are too poor for me.
@@thedude5040 lol. Ever heard of Zelle? They don't hold your money for ransom like PayPal does.
@@thedude5040 Zelle has no fees for the seller
@@antons1097 i have herd of zelle and sometimes use it for transfering money to different banking accounts for myself. I may consider it for stanger to me, but usually people on FB marketplace have all kinds of crap e-pay services because they cant afford $100 for a used working dryer. When I graduated college in 2018 I had an "garage sale" in my apartment to raise money so I could afford the $500 security deposit in a new apartment in a different city for a real job and so I literally sold everything, save for a few essential items (bed, cell phone charger, half of my clothes, and desk). After that experience, thats where I got boomer grumpy and forevermore sale items as cash only, you pickup. If im selling my xbox, I dont care how many firiends you have that are going to subdivide the payment. When you pickup, you hand me the entire cash payment. I will not create a new account for whatever e-pay service you use just because you dont have a normal checking account or have a debit card to get cash from an ATM or bank. I closed/canceled all those accounts except for paypal, a regional bank account, and my bank of america accounts. It greatly simplifed life: less passwords, no forgotten untransfered money, less worries about accounts getting leaked, I dont have to remember what services have free transfers or how long money is held, and no more annoying notifications about "now accepting crypto". Heck I even canceled credit cards just so I wouldnt have to remember to paythem. Then I paid off my student loans so I also wouldnt have to remember to pay them aswell. Becoming boomer grumpy about millenial/ gen z finances was the best thing to ever happen to me. Now in 3-5 years I should be a millionaire simply by learning the meaning of no and investing money the old fashioned way into businesses
Too restrictive and authoritarian
True
As a developer I stopped accepting payfail years ago. I did thousands of transactions, sold lots of "digital goods" and did several hundred freelance dev projects, and in that time I had 3 charge back problems. Over the total number of transactions I think 3 isn't too bad. I mean one sucks but that is a pretty low fraud rate. Anyway, every time, except the one fraudulent transaction, a new client tried to pay the first invoice for dev work the transaction got held and usually the client had to call payfail to get to go through. The one time the first transaction went through without a hassle it ended up being the only fraud I had in the dev end of things. At first I thought I was going to lose business because of not accepting paypal but I didn't and people used the alternatives I ended up offering without many complaints. Payfail sucks, I flat out refuse to use it as a business and only use it personally when it is the only option available to me
Lol.. you shorted paypal😆
What alternatives do u use? I don't really use online pay services.
@@Firebacon1gg there’s no alternative other than mabye Apple Pay
@@BenBerr dam. Don't have one. Thanks for the info.
@@Firebacon1gg depends what your goal is. For personal payments or payments to trusted small suppliers - Zelle is a perfect option. QuickBooks allows to invoice/ receive payments from customers directly, but you can do it thru most banks as well, they will have the option to pay via card (which most people prefer anyway) or ACH. Payfail - will fail soon, the way they treat their customers is terrible. I was introduced to them when I was selling on eBay, and when eBay moved away from them it got much better. But I still paid my contractors via PayPal, but then I had a run in with them. I accidentally transferred some funds from my business account to my personal and it gad business transaction preselected. So I paid a fee. I wanted to refund it back, but the fee is NON REFUNDABLE. I called them explained both accounts are in my name. A smug voice told me basically "well to bad we now got your 100 something bucks. Well tho was the day I drained all PayPal accounts and completely stoped using them. Some contractors complained but a simple "it's either Zelle, card or check your choice" made it clear they did not have a choice. And I'm very happy i moved early. Now all businesses and people I know have completely switched from payfail. So I guess they're days are counted.
How about because they didn't go to bat for their customers about the $600.00 reporting requirement that was proposed, they take a huge cut way beyond what a credit card company does, there are now a number of competing services, and because they threatened to fine its members $2500.00 for "misinformation"?
Fvck pal pay, they said they can "fine" you for political beliefs and take money directly out of your bank account
Bingo.
PayPal needs the Bud Light treatment.
When Congress closed the PayPal !099-K reporting loophole, it made a little noticed change in the tax reporting rules that will make it almost impossible for independent contractors and other businesses to hide their income from the IRS
1) No customer service, and when you find one they're indifferent and clueless. 2) Simply ridiculous security procedures. The ONLY app that occasionally says, "This look fraudulent. We'll hold your money 3 weeks." 3) Non intuitive app. I have Apple Pay, Google pay, Cash App, Venmo, and PayPal. PayPal is TERRIBLE, so much our estimates say, "Use PayPal only if that's all you have.,"
Yes they are fraudulent in addition to being inefficient ! More and more people stop using Pay pal and it's not by accident.
I closed my account more than a year ago when PayPal was updating their Terms of Service which included a penalty on freespeech. Many left the platform and many are not using it unless they have too. Paypal said it was "an accident" removed the clause then added it back in when no one was looking from what I remember.
That's what I remember too.
Hahaha, I didn't pay any attention on any terms, if it's true, I think Paypal treat themself as a mad king of robbing transaction fee, and do speech control at the same time!
PayPal is borderline criminal with their payment verification process, randomly hold seller money for weeks, sometimes months. There are sellers who have millions hold by PayPal. It just intentionally hold the payout to take advantage of the cashflow
Borderline criminal? How about straight up criminal with their history of shutting down people's accounts and keeping all that money for themselves if they don't like you for whatever reason. And I doubt Payfail will ever create a list on all the things they don't like that can cause them to close your account.
Interesting. It also seems that PP is also returning to the mean after a one-time non-recurring event (as one would report on a balance sheet and PL analysis). I would like to see a video that takes a broader look by bringing in the other payment solution providers along the same timeline. I think that this would provide a more accurate picture of PP and the ecomm payment solution business as a whole by comparison.
Painful experiences with PayPal in recent years they need to focus on their B2B customer service 😢
PayPal's outrageous transaction fees is the reason PayPal is doomed to fail
Not to mention their horrible customer service
Yes hopefully PayPal will go out of business soon, their share price has lost 20.55% in one year, there is a reason for that. People just stopped using them and will never come back. THEY ARE NOT RELIABLE AT ALL.
@@Carolinapetroska Share price has nothing to do with revenue or how they are doing you fool. Revenue for this company keeps on growing.
I don't think businesses/sellers particularly like Paypal but they use and put up with them because they were kind of first. Also Paypal doesn't really have anywhere else to grow. They have no access to China and even if they did they would not be able to compete with the local payment systems which are way ahead of Paypal.
I work with Chinese suppliers and pay to their PayPal account. They use their Chinese address as the vendor so I know they’re not getting around it by creating an account from a different country and/or using vpn. PayPal is active in China.
Excellent summary thank you! Praying they pick a superstar as CEO who is beyond reproach.
Not a complete alternative but in Europe, I see Wise is getting some of Paypal business as well as some local alternatives such as Bizum in Spain.
Think about a company that decide to stop allowing people to use its service based on political orientation. That’s one of the reasons…
Been using them for over 15 years, I don't know why people stop using PayPal. I've never had a problem with Paypal!!
Same here, not one problem!
A friend of mine gave up on PayPal because she said PayPal robbed her of $10! 😳
Don't know about others but for me I switched to apple pay, more convenient
PayPal has changed many fundamental policies in ways that drive away customers. I used PayPal for nearly twenty years; then my bank account was hacked and I had to close it. I had two payments outstanding, the vendors cancelled their charges after I sent them documentation proving my circumstance. But PayPal not only insisted that I had to pay *PayPal,* they insisted and STILL insist I pay them from _that _*_closed_*_ account!_ My PayPal account is frozen until I do, which means I can *never* use PayPal again!
I love PayPal lol
Paypal for spending money was nothing but aggravation. One example: I went to buy something online at Home Depot and I could pay with Paypal by either withdraw for my home bank account or use my credit card yet I have plenty is my Paypal balance I wanted to use, but PayPal tells me some bewildering restriction that Paypal would let you do it but the store would not let me. What?
We've turned off paypal for several regions/countries in our webshops ... the fees are just too high and you're getting less and less in return.
This is good. I can show this to my college students
Holding my funds when I sell things really killed it for me a couple years ago that and then constantly making me verify my info
I refused to use PayPal back in 2007 when I was asked to sign up for a PayPal account to receive payments for doing some contract work. PayPay wanted to take 35 cents USD for every $1 USD that came through their accounts. I said no thanks to PayPal and the contract work.
REMEMBER PAYPAL WANTED TO FINE ITS USERS $2500 FOR MISINFORMATION 😂😂😂
I heard about that and confirm that is true they pulled back and claimed it was a error in wording or something like that yeah total control freaks they are
They should go out of business. They would do customers a big favour
I agree with you and believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don't know who agrees with me but either way I recommend real estate or crypto and stocks
@@brendagrispo6497
Crypto is bringing a different revolution in the world economy, people who are optimistic investors earn consistently, others will just sit and watch
I am interested to know more and invest in
Crypto please 🙏
@@jasonperilous9967 is not advisable you trade with your iQ. Well I recommend Mrs Sarah Davisonl! She's the people best teacher and also my mentor
*That $600 new tax reporting threshold for small businesses*
I can tell you when they made changes their dispute/appeal agreement rules back in November, and I got two back to back false charges from two different companies which were close to $600 each, and I challenged the charges with PayPal and was told I had to contact the company that charged my account and then those companies immediately told me I was being hacked and would have to pay some type of ransom to them to prevent further charges, I simply cancelled my account. This change in PayPal’s dispute agreement opened the door for its members to fall prey to hackers with no way out for the members who got hacked. PayPal is no longer a safe place for customers to use to do digital banking. Those invoices are still pending and PayPal will not remove them.
Paypal have for many years felt like " the backup payment" if no other methods are available or you want to send someone money but no other methods seems available
CNBC, you need to higher someone to do better audio mixing and mastering. The narrator is way louder than the people being interviewed.
Applying ESG style fines of $2500 sure didn't do them any favors. I dropped them after 15 years. Fines for free speech is unconstitutional, and if they're willing to do that they can't be trusted.
Andrew, I see that jersey in the background 👀... GO BILLS
Their own management. Especially their own, mediocre and lousy CEO. Overspending on Honey, SBC and buybacks to boost the SBC options, unable to capitalize on crypto, unable to come with new features, unable to extend full functionality on international markets... Their own management lead by a louse CEO is what is killing them!
One problem with using PayPal is you don't get any cash back versus A Credit Card for online Purchases. There is the safety aspect of using a credit card online. But it's not like you can't dispute it through your bank if there is a wrong charge. I've dealt with paypal in the past with wrong charges and it's hard to prove them sometimes And deal with paypal's customer service.
You do get cash back if you use their credit card.
Wtf are you talking about? You DO get cash back lol. Sounds like youve never actually used it and is talking out of your ass lol
Just so you know, you can get cashback with any cashback creditcard, not just Paypal's.
I prefer PayPal for subscription services because unlike a credit card I have confidence in going into PayPal and cancelling on going subscriptions. Yes it can be done other ways, but it's just easier and has more piece of mind with PayPal. Cancel and forget even if renewal is 24 months away.
Google Pay offers the same thing. Presumably, Apple Pay does as well. PayPal is redundant these days. Also, PayPal has a bad reputation for their poor customer service. That further pushes people to alternatives that often work as well, if not better. PayPal will continue to struggle. Likely best thing for them to is find a buyer.
@@ronbennett7885 I refuse all electonic payments except for paypal if the transaction is too high for carrying cash. When I sell stuff on facebook marketplace i am very clear; You pick up and absolutely no form of payment will be accepted except cash.
CNBC, YOU NEED TO EQUALIZE THE VOLUME OF ALL OF YOUR GUESTS. SOME ARE MUCH LOUDER THAN THE OTHERS.
I never heard of this kicked out keneddy but its intresting
PayPal is incredibly unattractive to businesses and also consumers outside the US (US consumers seem to have a stronger connection with PayPal than the rest of the world - probably because of a lack of modern banking). High transaction fees and a ridiculous chargeback system makes it undesirable to businesses who inevitably go with an alternative such as Stripe, or in the case of eBay, Adyen.
Also, just a criticism on the video - Apple Pay is by no means an alternative to PayPal. PayPal is a payment processor (with additional features added on top) while Apple Pay (and similar systems) is just a method of collecting payment details. If a site wishes to use Apple Pay, they still need to use a payment processor, such as PayPal, to actually process the payment; though anyone with a brain would use Stripe instead, due to the lower transaction fees.
Cnbc is sponsored by apple, that's why there's a reference to apple company in any video or at least a macbook is shown in any video
Lack of modern banking in the US? 🤣🤣🤣
Paypal is an American company and was the first big online payment processor. That's why it has more of a foothold in the US.
@@safeandeffectivelol PayPal is not a bank. Modern banking makes a lot of PayPal’s appeal redundant. The US has a dated and dysfunctional banking system. *That* is why PayPal has such a strong foothold in the US.
@@beawatton Nobody ever claimed Paypal is a bank. Paypal has a legacy foothold from back before 2010 when there weren't many alternatives. Most banks have Zelle or other transfer systems now. Payments and transfers are free and the funds are available immediately. How is that different from banks in other countries? Maybe you should get a clue before spouting off nonsense
@@safeandeffectivelol I’m not entirely sure what got you so butthurt; you must care very deeply for the US banking system. Regardless, if you’re genuinely interested I’d urge you to look into how banking systems work in other countries, especially those in Europe. Open Banking would be a good topic to start with.
paypal was very cumbersome overall to sign up, verify identity etc. The customer service sucks, and they changed their policies so much that people got tired of it. Makes sense why their popularity is dwindling away.
I used PayPal in the 00s
Maybe their high fees have something to do with the lack of growth?
I like using wise less fees.
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Paypal and their micro management of accounts is part of them driving themselves into the ground. Groping for money by gouging it's customers with absurd fees is turning loyal customers to look elsewhere to do transactions.
Massive criminality and bad business practices. Who wants to take a chance with PayPal and having money confiscated or impounded until an attorney general or class action suit gets it back for you? It's an absolute miracle people are still willing to do business with them. Give it time...
fine
I try avoid paypal when ever possible. Their fees are way to high, I've been scammed a few times and they have sided with the scammer twice. Paypal opened a line of credit for me without asking, then sold the account to another company who closed it and it hit my credit report. I don't think they are a very consumer friendly company.
They tried to change their tos to steal money from anyone they chose last year. I canceled the next day. Never looked back
I wouldn't mind paying the exorbitant fees or even more if they actually had cs. But there are so many stories of people whose funds have essentially been stolen since their funds are locked with no means to get them back.
Can you guys level the audio correctly, please? I have to now do it by hand.
Last time I needed PayPal to solve a fraud charge after being their customer for over ten years and how they didn’t in resolve that but my credit card did. They are irrelevant to me
Its somewhat miracle they are still around Paypal rose with Ebay and people use it one way to ensure refund if you got screwed, but in around 2015 Paypal is screwing sellers and buyers. and now they have very high service fee which is ridiculous compare to others.
What growth...they process online payments...plus I read the hold transactions up sometimes for business owners...maybe that's why because ppl see how they do business
I never really need to use it but recently decided I will never use it again as I don’t support anyone thinking they will control my money. I made a purchase that ebay blocked and when I called they made me verify the card I just verified already and told me try purchase again. It was denied again and was told some nonsense where they tried to say it was my bank. I’ll pass on them for life now.
The American Rescue plan Act 2021 will tax peer to peer payments made through online services such as Paypal, Venmo, PayPal, Amazon and Cash App (Why they are not talking about this???). Anything sold over $600 in 2021 would have to be reported compared to 2020 when the limit was $20000. This, I think, effect the stock price. Selling a couch for $600+ and having to fill a 1099 -k end of the year would be less interesting to do when you can accept cash on the side...shhhh I did not say that!!
PayPal lagging behind new technologies
Big time
Wise is the new game.
I liked their one-time credit card number, which was discontinued without notice or explanation, as far as I know.
PayPal Strategy: they should consider creating sensitivity analysis on becoming the “next” low rate credit card co however to have a tsunami of user new clients (concept is illustrative) offer 16% interest rate in a 21% credit card market in an economic downturn and “sweep” off 10% of credit card lending using a low rate business model; they’d keep their 2,000 employees they are laying off; study the low rate competing cards and “beat them” on rate. Balance transfers at a low low rate would position them to secure market share fast.
BUSINESS OWNER - DO NOT Leave money in your PayPal Acct!
I usually park a few thousand in my PayPal acct . My account is 20 years old taking credit card payments with a perfect history of no problems - They just froze my account - i can’t withdraw funds and are conducting an audit - WTF! It is not a bank. Do not kid yourself. Stay clear!
They aren’t very friendly to deal with
Severely underrated. More than 8% yield
Ebay became such a pain because of paypal, funds frozen , irregular payouts etc,etc. Then finally they ditched them. Financial transaction at ebay became easier and reliable overnight. I immediately stopt dealing with paypal altogether 🖕 Never looked back. 👍
I stopped using Ebay for years because of Paypal
PayPal is trash. I used it for about a year. I sold an old jacket and some used shoes on let go. They paid me with PayPal and then it got reversed because the person said they asked me for a refund but I refused. PayPal asked me for receipts of the items I sold which is crazy cause this was a transaction for old used items. To this day my PayPal account is locked because I don't have a receipt for an old school jacket and a pair of shoes I bought from Marshalls. Ridiculous.
Half the time I can't hear the audio in these videos unless i crank my volume to max. Then the narrator is too loud and the zoom call speakers are too quiet. Y'all gotta improve your audio on these videos. It's a simple fix too
I have to imagine the new taxes on things done through PayPal, cash app and other apps like it are going to have an effect.
What a buying opportunity at today's price. I'm so happy. Paypal is the only online payment system that I trust - since 2004. And so do many Europeans.
PayPal is too intrusive they wanted to know EVERYTHING about my business : staff names/ rental agreements, supplier agreements, % of sales for each product category , sales margins, shipping agreements.
In the end we changed to stripe.
PayPal loss is stripes gain
Yes and even though they know everything about you, they still lock you out of your account pretending it's not you. SO INCOMPETENT !!!
As someone who attempted to become a customer, it proved to be so difficult it was useless. Instead I had to get a credit card and therefore no need for PayPal.
Zelle, ApplePay, and Venmo are all easier, faster, and more reliable than regular PayPal. What will end many of these fintech companies are the scams. If one service becomes too much of a headache to use, customers will move on to a different platform.
I dumped PayPal because of their HORRIBLE customer service.
They tried to bill me twice for a $800 plane ticket. It’s been 9 months trying to fix it with a lawyer. All of my paperwork is in place. They are completely incapable of doing simple tasks to fix such obvious mistakes.
Yes excellent decision. Those guys lock me out without any valid reason when I needed them the most. I will never use Pay pal again !!!
As a seller i left PayPal because they held onto the money way too long if any buyer had any dispute they would immediately take the money out of your account they are very buyer friendly but not seller friendly please for the love of god i cant list every reason here but if you are selling please stay away from PayPal it will cause you way too many headaches and sace you so much money
true
I stopped using them when they decided to limit what companies I was allowed to purchase from. Also, their fees sre far too high.
Crap customer service. They freeze accounts that aren’t doing anything suspicious. Paypal needs to go 🔥
Josh Allen jersey in the background. Go Bills.
Paypal needs to make major changes to it's trading rules. They are losing sellers due to unfair and unreasonable rules and practices. Change or fail, either is a good outcome for everyone.
I will also say this for paypal. if there ever is an issue they will do more for you than your big bank by a long shot. I have never had any long standing issues with Paypal other than the fees of course. also there are two methods to get your cash one is to send it to a bank account or for a fee you get it instantly . now either be smarter and allow these fees to be added into whatever you sell its really not that hard
you are a minority. I lost tens of thousands of euros due to paypal's bugs and false flags, dealing with support was always a nightmare. And fees, did I mention fees?
I live in Europe and I never had to use Paypal in my life, except a few times in the late 2000s when it was mandatory on some websites.
I used it 3 or 4 times recently to test it. And one of them bugged and miserably failed.
I don't even understand what's the point with that website. If I don't want to give a website my credit card, I can generate a one-shot credit card number for free with both of my 2 banks - and one of those two banks is almost free (i pay 20€ of fees per year... it's a one-time credit card insurance fee). I don't know what makes americans pay so much to use their own money online. Transaction fees on electronic payments are basically a scam in 2023.
PayPal lost my business when it started regulating what I could and could not spend my own money on if it conflicted with some board members personal morals.
It's because they started taxing you after $600 or something. eBay did the same thing. People went to other places to sell and collect their money.
That was a legal issue. All companies have to abide by that rule.
Every processor how to do that now. If you qualify for that expect to get an email and a letter at the end of the year
Cant believe people like this procreate and vote lol
Im use to using paypal wound hate to see ebay or other sites change payment methods even if I do save few cents .all my paypal transactions go smooth and fast .
Freedom & competition
I love paypal for the protection it provides. When I fell for a fake Canada Goose store, filing a fraud claim with paypal and getting a refund was a breeze. I will always use them whenever the paypal button is available.
It's such a "breeze" that you can file a fraud claim against any seller and win. Think about that.
@@Notme-tq4xs i doubt you can just indiscriminately file a fraud claim and win. This was just a simple case of a fraud store masquerading as the official CG store and ripping people off, which isnt a difficult case to win.
When I was scammed it was not a breeze. I forgot how stingy paypal can be.