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  #1  
Old 09-28-2011
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Default PayPal Processes $315,000,000 PER DAY!

I couldn't believe this when I read it...

PayPal Now Processing $315 Million In Payments Per Day | TechCrunch

Apparently PayPal processes $315 MILLION DOLLARS in payments EACH DAY!

I knew it was a lot, but sheesh!
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That's a mighty number but nothing amazing.
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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.
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Old 09-28-2011
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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.
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Old 09-28-2011
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Unreal. Maybe we should limit their account.....

That was pretty funny right there.
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Old 09-28-2011
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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.
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Quote:
Originally Posted by rangerschool View Post
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.
LOL that was funny Dude.
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Old 09-29-2011
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was not expecting it to be that big... wow

but then again when you got sites like walmart accepting paypal now, not that surprised.
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Old 09-29-2011
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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.
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Old 09-29-2011
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Quote:
Originally Posted by BiN4RY View Post
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
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Old 09-29-2011
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Quote:
Originally Posted by nandika View Post
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
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Old 09-29-2011
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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
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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.
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Quote:
Originally Posted by sacka_man View Post
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.
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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.
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Paypal forever, woot woot!!!!!
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Old 11-27-2011
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and its all moved on paper, but only one bank account. Ohhh just imagine the interest on that lonely ole high interest account.
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Old 12-02-2011
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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.
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