Roscoe | 01-14-2013 10:53 PM | Quote:
Originally Posted by Sandy D
(Post 410660)
pp does not want to be.
Too many regulations on them would destroy them.
They would not be able to steal all the money and hold it like they do on so many accounts if they were.
Dont see it happening soon but with the way things go anymore you never know. | 100% correct. I just saw a documentary on Bloomberg TV about the origins of PayPal. The founders said they did everything in their power NOT to be a bank.
They would have gone under trying to comply with all the regulations in each state and every country.
PayPal almost never happened because VISA refused to process any credit cards. Paypal asked VISA to do a 1 year study to see if chargebacks would be any higher than normal retail sales.
It turned out not to be any higher online than it was offline (retail).
Thank your lucky stars PP is treated the same as McDonalds.
If we're lucky PP will stay the same. Be very thankful and pray for PP every night. :pound: |