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- PayPal Talk
( https://www.aspkin.com/forums/paypal-talk/)
jeffweico | 09-28-2011 08:13 PM | PayPal Processes $315,000,000 PER DAY! |
RomexTM | 09-28-2011 08:19 PM | That's a mighty number but nothing amazing. |
rangerschool | 09-28-2011 08:22 PM | Unreal. Maybe we should limit their account!
"Dear Paypal, For security reasons we have decided to limit your account. Can you please send in a recent copy of your first born child, your neighbors grandmother, a bank statement, a social security card or EIN number, a current utility bill, supplier information clearly showing where you received the funds from. Please jump up and touch your toes, bend over backwards, do the macarena, do the dougie, and lastly please moonwalk. Once all these steps are complete a risk management associate will notify you of our decision. :pop2: |
RedShootingStar | 09-28-2011 08:37 PM | I thought it would be more than that considering almost all online auction sites use it and almost all major retail sites use it now. |
madmuppet303 | 09-28-2011 08:41 PM | Unreal. Maybe we should limit their account..... That was pretty funny right there. |
BiN4RY | 09-28-2011 09:14 PM | Times that number by the average commission rate of 3% and you get 9.45 million.
That's right boys and girls, Paypal makes more money in a day than you can dream to have in your lifetime.
Of course, that does not include the other services are owned by eBay. |
cazador | 09-28-2011 10:54 PM | Quote:
Originally Posted by rangerschool
(Post 273108)
Unreal. Maybe we should limit their account!
"Dear Paypal, For security reasons we have decided to limit your account. Can you please send in a recent copy of your first born child, your neighbors grandmother, a bank statement, a social security card or EIN number, a current utility bill, supplier information clearly showing where you received the funds from. Please jump up and touch your toes, bend over backwards, do the macarena, do the dougie, and lastly please moonwalk. Once all these steps are complete a risk management associate will notify you of our decision. :pop2: | =} LOL that was funny Dude. |
was not expecting it to be that big... wow
but then again when you got sites like walmart accepting paypal now, not that surprised. |
Sandy D | 09-29-2011 12:23 AM | And half of that is going through BluntzCash's accounts.
Amazing that they control that much money per day.
And to think they will limit someone with 10.00 in their account. :eek: |
nandika | 09-29-2011 04:41 AM | Quote:
Originally Posted by BiN4RY
(Post 273121)
Times that number by the average commission rate of 3% and you get 9.45 million.
That's right boys and girls, Paypal makes more money in a day than you can dream to have in your lifetime.
Of course, that does not include the other services are owned by eBay. | you forgot that they have to pay fees too... computer systems, programmers, all staff and credit card processing fees. so i'm guessing around 50% of the 9 million:D still a lot of money though |
sammybabe | 09-29-2011 05:01 AM | Quote:
Originally Posted by nandika
(Post 273203)
you forgot that they have to pay fees too... computer systems, programmers, all staff and credit card processing fees. so i'm guessing around 50% of the 9 million:D still a lot of money though | Lets not start feeling sorry for B******S.
Pop on the interest from frozen accounts aswell and they must be making £20 million a day
Poor mr paypal |
Pa yp al is not limited to eb ay only and that's why it's big - retail, website endeavours, etc. - sick but yeah "People's most trusted (something like that - or use) payment processor"...
/quote
And half of that is going through BluntzCash's accounts.
Nice one Sandy_D ha |
sacka_man | 09-29-2011 04:50 PM | Don't they take like 2-3% commission of every sale? So that's like $2-3 million a day generated in revenue just from offering a service. |
First Edition | 09-29-2011 05:44 PM | Quote:
Originally Posted by sacka_man
(Post 273431)
Don't they take like 2-3% commission of every sale? So that's like $2-3 million a day generated in revenue just from offering a service. | It gets lower as you process more money... but yes.... it's still a lot. |
RedDevil® | 09-29-2011 05:50 PM | They are still paying probably 1% to their bank to process the payments. They are making over 3 billion a year which the profit might be around the 1-2 billion mark. It's a lot of money, but i would have thought it was more since its the biggest online payment processor. 1 billion dollars in profit is not that much in the big corporate world. |
download3000 | 09-29-2011 09:28 PM | Paypal forever, woot woot!!!!! |
proownuevo | 11-27-2011 11:02 PM | and its all moved on paper, but only one bank account. Ohhh just imagine the interest on that lonely ole high interest account. |
First Edition | 12-02-2011 07:29 PM | It doesn't really work like that. The following math isn't EXACT... but..... I hate when I hear people say, oh and think of they interest they're making on the money they're holding!
Simple formula: I = P x R x T
So 315000000 x .02 (at 2%apr) x (1/365 (.002, time) ) = about 17000 dollars. Yeah man, they're raping us.
Thats assuming the money is put into a bank account immediately (yeah right) and that bank account isn't held with a paypal owned bank account (interest paid by someone else) and that bank pays interest on a daily balance (yeah.... right) If I take 1000000 and put it into an interest bearing bank account, and tomorrow, and the next day, pull it out, I'm not going to get a single penny of interest from the bank.
In truth, they keep about 3 % of everything, every day. You pay them that interest (if you can think of money like that) every time you use their service.
I don't think they would have enough time to put into an overnight account that gives you a 2 percent return. Even if they could, its more like .2 percent.... if that..... then that becomes about 1700 bucks. Its not worth it for them to do this. | All times are GMT -5. The time now is 01:53 AM. | |
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