Diligence told them they’re buying a almost dead payment processor with ancient tech. Customer lists are worth something but not that much.
It's still the only consistently supported thing I encounter online.
I'm aware things like Wero are poised to shake things up, but still have no real idea about timeline and impact.
Also, it's often the way people transfer money between each other.
Card number is standard, with an increasing amount of places supporting Apple Pay (thankfully)
Moving to Germany from the US was like entering a timewarp. PayPal is still real??? People use it??
I get it now but it's a pretty big miss that GiroCard couldn't figure out how to displace them after all this time.
Not having a lot of credit cards and the associated rewards is actually healthy. Research has shown lower social classes "pay" for the rewards due to paying the higher transaction fees. There was actually a relevant thread here a few days ago https://news.ycombinator.com/item?id=49432201 (How credit card rewards became a $9.2B wealth transfer)
Well, I used to live and work in South Korea for many years, so both DE and the US are about equally oldschool in my book :)
online is dead too, no app uses paypal, and plenty of online merchants take credit cards more than paypal; they even offer their own credit cards.
paypal hasn't innovated at all in over a decade, and people are scared of the way it will hang on to your money with little recourse.
You have already lost your plot with that claim. Just because you don't use it doesn't mean it is not widespread.
PayPal is the payment method I use for Google Pay, so pretty much everything goes through it.
(I don't have a credit card, which is common where I live.)
Since then Apple Pay/Google pay/browser wallets have taken a big chunk of its fast checkout advantage
And mobile banking apps/instant transfer have taken out chunks of the private transactions, and more so as consumer to consumer transactions often had the parties using PayPal gift mode to avoid fees but that then had zero protection.
The 2020’s is much more crowded than 1990’s and 2020’s decades
Also it was its partnership with eBay that made it dominant and eBay no longer promote PayPal as preferred payment method.
That estimates PayPal still has 40%+ online payment market share.
I'm assuming a lot of that is long-tail 'I put a PayPal link on my store in 2005' stuff, but I imagine those add up.
And they're also probably a sticky customer base, in the sense that anyone still using PayPal as primary today doesn't like changing things, which makes acquiring those customers worth it.
It accounts for about 20% of my sales. I was about to write 'overwhelmingly Europeans' and I thought I better check. Nope.
Row Labels Count of Country
---------- ----------------
United States 54
Germany 12
Australia 10
United Kingdom 7
Netherlands 7I am guessing the millions of people they have on-boarded in the last decades are what makes the business worth something.
Generally I would use it on smaller / unfamiliar websites; I may be more hesitant about entering my credit card numbers but also it's quicker and easier as I can do it without getting my card out of my bag.
I also use it exclusively for eBay purchases.
Within Switzerland there is zero need for PayPal do you don't see it as much, but if you ship to Germany or Italy things start to get more complicated.
It was bonkers.
Charities are anything but interchangeable. You might not want to sponsor one on ideological grounds, or concerns about how effectively they use the money, or just because you were seeking to support a specific cause. If you deposited money in a box that said "we're buying medicine for sick people in Somaliland" and they sent it to the RSPCA instead, wouldn't you be pissed?
[1]: Seriously though, I can’t find good data I trust on this so correct me if you’ve got a good source saying otherwise, or even if someone has something substantiating this better I would take that too.