STRIPE wants to buy Paypal

agent006140 · #1 1 Week Ago

remember the conversation we have on Paypal and Stripe.
Stripe now wants to buy Paypal at $61/share/

phaz0rz · #2 6 Days Ago

They might as well. There isn't really room in the industry for the two of them and I think at this point, Stripe has a larger market share than Paypal.

I could be biased since I only ever really used Paypal for things relating to eBay.

agent006140 · #3 6 Days Ago

Is Stripe for retailers (brick and mortar and online) while Paypal is more for individual sellers?
Is Stripe strictly domestic?

rsot · #4 6 Days Ago

Quote:

Originally Posted by agent006140

Is Stripe for retailers (brick and mortar and online) while Paypal is more for individual sellers?
Is Stripe strictly domestic?

Stripe has more acceptance with merchants both physical and online. When Paypal was separated from eb, that was a huge chunk of business gone.

Stripe works worldwide

phaz0rz · #5 6 Days Ago

Paypal still has Venmo which I think predates Cash App on being super popular with young people for mobile P2P payments. That's probably a big chunk of Paypal's business.

In the eBay payments era Paypal was advertising point of sale systems for brick and mortar stores. I don't know if any businesses ever used them. Stripe offers the same thing but usually if I see a website-branded POS system in public, it's by Square.

agent006140 · #6 6 Days Ago

thanks for the explanation,I think Square comes with a gadget to insert the credit card,does it not?
Most brick and mortar retailers do not use PAYPAL,I may have seen it at Home Depot,not sure?
If it comes with a gadget to insert the card,it comes in handy when merchants attend trade shows also sell their merchandise on the spot.or flea market?
But i still think Paypal is attractive to those whose local currency is weak eg Venezuela,Turkey,Ukraine,say they sold something on US or EU site and keep the hard currencies in their Paypal account,only convert them if needed

phaz0rz · #7 6 Days Ago

Yeah, what makes Square so popular with small businesses is the fact that all you need is a tablet, their app, and the free card reader they send. My tax preparer uses Square on a tablet for card payments.

P2P payments are a big part of all these companies but I don't think they've found any way to build a profit model into those. They don't charge transaction fees since they count as non-commercial F&F payments so how are they making money with them? Square has Cash App and Paypal has Venmo - both of which are more popular than paper money these days. I guess both companies are also using crypto to stay afloat. Almost forgot about that.

rsot · #8 6 Days Ago

Quote:

Originally Posted by phaz0rz

Paypal still has Venmo which I think predates Cash App on being super popular with young people for mobile P2P payments. That's probably a big chunk of Paypal's business.

In the eBay payments era Paypal was advertising point of sale systems for brick and mortar stores. I don't know if any businesses ever used them. Stripe offers the same thing but usually if I see a website-branded POS system in public, it's by Square.

Ah yes Venmo - Venmo is more stricted...for example, Venmo can't be used in Canada so it's literally shooting itself in the food for lack of support (last I checked).

Square is widely used for POS in smaller retailers

Undertakers · #9 5 Days Ago

PayPal so old school. And Their automatic fee for receiving money from someone sending make me not use them. unless Anyone has a way around not being charged a fee for receiving money.

Undertakers · #10 5 Days Ago

Quote:

Originally Posted by rsot

Stripe has more acceptance with merchants both physical and online. When Paypal was separated from eb, that was a huge chunk of business gone.

Stripe works worldwide

Yes only I associate them with eBay. I deal with paypal only from business owners I met on eBay to this day.

phaz0rz · #11 5 Days Ago

I miss Paypal quite a bit, tbh. There were all kinds of cool tricks we could do back then.

agent006140 · #12 5 Days Ago

Quote:

Originally Posted by Undertakers

PayPal so old school. And Their automatic fee for receiving money from someone sending make me not use them. unless Anyone has a way around not being charged a fee for receiving money.

If you sender is using ' Friend and family' and not 'goods and services',then there is no fee for the buyer.
If he is using a credit card to send you payment,then Paypal with charge him credit card fees.

phaz0rz · #13 5 Days Ago

Cash app, Venmo, and Paypal friends and family all have no fee to send because they're not "for commercial transactions." That's the loophole allowing those apps to function in the US without sending 1099's for people who receive a lot of payments.

Crypto is close to free to send but there's always fees involved to get the crypto.

phaz0rz · #14 5 Days Ago

Would a Stripe-Owned PayPal Be Good for Sellers?

agent006140 · #15 5 Days Ago

Quote:

Originally Posted by phaz0rz

Cash app, Venmo, and Paypal friends and family all have no fee to send because they're not "for commercial transactions." That's the loophole allowing those apps to function in the US without sending 1099's for people who receive a lot of payments.

Crypto is close to free to send but there's always fees involved to get the crypto.

In an IRS audit,the auditor will ask to see your bank statement,any deposit which is not inheritance,pension,salary,lottery,insurance claim,gift,rebate could be income from running a business.
Any bank to bank transfer will lead him to ask for bank statements of the other bank,so on and so forth.
bank statements for the last 2 years are reviewed

phaz0rz · #16 5 Days Ago

I don't think it would count as taxable income in an IRS audit. Sure the IRS would be able to see Cash App deposits going into a bank account but they've explicitly given Cash App and co. permission to operate the way they do. Most kids are living fully cashless and send money around with those apps pretty frequently.

It's why there's no fee or buyer protection for Paypal Friends and Family payments. They're classified differently.

Undertakers · #17 5 Days Ago

Quote:

Originally Posted by agent006140

If you sender is using ' Friend and family' and not 'goods and services',then there is no fee for the buyer.
If he is using a credit card to send you payment,then Paypal with charge him credit card fees.

I have a business PayPal. PayPal upgraded it from personal to business. I do not remember doing it on my own.they will not let me nor anyone spending me money to click "friends and family" they take out quite a chunk too lol

Undertakers · #18 5 Days Ago

Quote:

Originally Posted by phaz0rz

Cash app, Venmo, and Paypal friends and family all have no fee to send because they're not "for commercial transactions." That's the loophole allowing those apps to function in the US without sending 1099's for people who receive a lot of payments.

Crypto is close to free to send but there's always fees involved to get the crypto.

I'm so done with crypto. All my transactions are treated as commercial transactions with my business PayPal account. I know I can't change it back to personal. Someone was sending me money I got mad cause they didn't chose family and friends. they said PayPal didn't even give them that option and a few other stated the same thing.

Automasters · #19 5 Days Ago

Crypto in PayPal isn't real crypto imo....
We have used stripe on several websites we own for several years - very stable and no issues, highly recommend...

phaz0rz · #20 5 Days Ago

Yeah.. unless you're able to send to your own custodial wallets then the platforms crypto division is useless and just for hype. Even Cash App lets you send crypto out.. they're just quick to slam down the ban hammer about it.

agent006140 · #21 5 Days Ago

Quote:

Originally Posted by Undertakers

I have a business PayPal. PayPal upgraded it from personal to business. I do not remember doing it on my own.they will not let me nor anyone spending me money to click "friends and family" they take out quite a chunk too lol

were those payments sent to you really friend and family?
It is fee avoidance if so.

agent006140 · #22 5 Days Ago

Quote:

Originally Posted by Undertakers

I'm so done with crypto. All my transactions are treated as commercial transactions with my business PayPal account. I know I can't change it back to personal. Someone was sending me money I got mad cause they didn't chose family and friends. they said PayPal didn't even give them that option and a few other stated the same thing.

Paypal allows us to have 2 accounts-personal and business,has it changed its policy?
anyway,in your case,they are sending money to your business account ,so Paypal deems it as business transaction.
There is ACH between bank accounts which is free if the sender is domestic