stealing people's money and holding it in reserve? heard multiple cases or this. how can PayPal think this will be good for business...? would like to hear from PayPal folks
Want to see the real deal?
More inside scoop? View in App
More inside scoop? View in App
blind
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
FOLLOWING
Industries
Job Groups
- Software Engineering
- Product Management
- Information Technology
- Data Science & Analytics
- Management Consulting
- Hardware Engineering
- Design
- Sales
- Security
- Investment Banking & Sell Side
- Marketing
- Private Equity & Buy Side
- Corporate Finance
- Supply Chain
- Business Development
- Human Resources
- Operations
- Legal
- Admin
- Customer Service
- Communications
Return to Office
Work From Home
COVID-19
Layoffs
Investments & Money
Work Visa
Housing
Referrals
Job Openings
Startups
Office Life
Mental Health
HR Issues
Blockchain & Crypto
Fitness & Nutrition
Travel
Health Care & Insurance
Tax
Hobbies & Entertainment
Working Parents
Food & Dining
IPO
Side Jobs
Show more
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
comments
This comment was deleted by original commenter.
This comment was deleted by original commenter.
This makes it really hard for PayPal, so to be on the safe side it has to monitor the behaviors and immediately hold full or a percentage of the transactions, to avoid charge back loss. Every payments company has to, but since PayPal has millions of merchants, the number is high, and the number of risky transactions are high.
There are several use cases for these kind of transactions, and we have Risk and Compliance as a while org to work on this. Letting even 1 transaction that's not compliant with OFAC etc, can lead to huge penalties for PayPal.
The several complaints you see online might be legit, but if their business grow 300% in a month, and they run away, and next month if the customers goes for a charge back, it's PayPal who has to take the loss. Can't do that.
Also, the regulations are different in different countries, so you might hear different cases. That's the reason not many companies have been able to succeed as much as PayPal has done so far. Maybe someone will do it soon enough.
Risk and Compliance folks can add more to this.