back to article PayPal chomps up money-moving biz Xoom ahead of eBay split

PayPal has scooped up digital money transfer provider Xoom for $890m (£570m), ahead of its split with eBay later this month. As part of its "uncoupling" with the online tat bazaar, PayPal will start out with $6bn (£3.9bn) in cash – which means more acquisitions could be on the cards. Dan Schulman, president of PayPal, said …

  1. Anonymous Coward
    Anonymous Coward

    Bad news

    Xoom has been very efficient and very useful for me up to now, so this is very bad news. I can only imagine the ways that paypal will screw this up. I'll give it 6-9 months for me to find an alternative.

  2. Coofer Cat

    Is it just me...?

    Maybe it's just me, but Paypal is horrible. In their (recent) TV ads they claim it's simpler than using your credit card to pay for stuff, but it really isn't. Firstly you seem to have to change your password every 10 minutes, and now I've hit some limit which means they're going to bill my card up to 5 quid to 'verify' it's mine. Their website is an awful maze of impossibility and they seem to need you to jump through far too many hoops to do anything useful.

    The only reason I have a paypal account is because ebay needed one. I've ditched ebay because almost everyone on it is flaky, so have little need of Paypal now either. If they make their service genuinely easy to use, I guess it might be useful again, but right now I can't see it happening.

    1. joed

      Re: Is it just me...?

      Well, I use PayPal as the middle man for small payments/purchases at odd places to limit exposure of the my credit card, actually I've created separate bank account just for PP (to downgrade risks even more). Now, with their history of freezing user's assets I'd be wary to have any other relationship with them than payment to a merchant, but for my purpose it's been OK. No problems with passwords and such but because of them holding on to old addresses (that I can't even find in my profile) completing transaction became annoying (and ended up shipping one of purchases to wrong place).

  3. Anonymous Coward
    Anonymous Coward

    Paypal? Ouch!...

    * They're not a bank but they have all the downsides of a bank (fees, charges) and none of the upsides. A. They don't respect anyone's privacy, B. they can lock you out of your account on a whim, and C. they're a target for hackers everywhere. That turns a lot of people off! Even if you make an anonymous donation to charity they hoard your personal info indefinitely. But for documented examples read below...

    * I've reverted to Swift transfers personally. Its more expensive but its an established worldwide system (albeit oldschool), where the sender has to complete lots of paperwork with independent ID checks. The receiving account can just be a temporary holding account with no other funds.

    ==============================================

    "PayPal has frozen Proton Mail's account without warning: “No attempt was made by PayPal to contact us before freezing our account, and no notice was given"

    http://www.theregister.co.uk/2014/07...essing_freeze/

    ==============================================

    "The company did not say if it plans to cap the rate or otherwise reduce the potential impact of the fraud. Defrauded customers do have the option of seeking reimbursements from PayPal, which like many banks shells out for fraudulent transactions in the name of consumer confidence."

    http://www.theregister.co.uk/2014/07...ure_not_a_bug/

    ==============================================

    "They’re obtaining data from me that I had absolutely no idea about The accumulation of stuff that went with the generic permissions you have to approve just to get a mobile app to work included:

    BSSID – the device ID of Hunt's home router, a pointless piece of data-hoovering;

    Device – both model and the individual name given to the device, like “Troy Hunt's iPhone”, are sent upstream;

    Internal IP address – which Hunt points out can yield at least some information about the network, like indicating how many devices are on it;

    Location – latitude and longitude, which Vulture South notes can be subverted by disabling location services, but most people aren't paying that close attention;

    SSID, and storage space – as Hunt says of the latter, “do they [PayPal] really need to know that?”

    http://www.theregister.co.uk/2015/04...ecurity_wrong/

    1. plambert101

      Re: Paypal? Ouch!...

      Paypal is not what the public thinks. An answer looking for the a question.

      Not needed or liked by the Ebay users who are stuck with it's use or lose their selling account.

      Life was SO much better before paypal decided to hobble the service. Either use paypal or

      you cannot sell on ebay! VERY glad if paypal goes away! Not needed or appreciated.

      Too many horror stories of paypal with their head up their asses for me to ignore!

      Please just go away!

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