Auctionbytes-NewsFlash, Number 298 - April 17, 2002 - ISSN 1539-5065
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What's Really New at PayPal?
By Ina Steiner
AuctionBytes.com
As rumors swirl that eBay may acquire PayPal (remember when eBay was going to buy Yahoo?), we decided to report just the facts, m'am. Online payment service PayPal is imposing stricter requirements for sellers, is in the running for several awards, and is making it easier for Web sites to integrate its payment service into their ecommerce systems.
PayPal is tightening requirements for its Seller Protection Policy. As of May 11, sellers are required to ship items within 7 days of receiving payment in order to qualify for the protection policy. And effective April 19, sellers will need to provide two items for disputed transactions of $250 or more: a proof-of-shipment that can be tracked online and a signature from the buyer as proof of receipt.
PayPal also said that select merchants may be required to provide additional information in order to receive $10,000 or more in payments per month. Additional payments received beyond $10,000 may be placed on "pending" status until these merchants provide the required information via the PayPal Web site.
PayPal is a finalist for two awards, the "Best eCommerce Solution" award by the Software and Information Industry, and Massachusetts Institute of Technology's Sloan eBusiness Awards in two categories: Internet Services and the Disruptive Technology of the Year. Before you think the latter award is a back-handed compliment, the Disruptive Technology award is designed to "honor companies whose technology has begun to significantly and positively impact daily life." eBay is also up for some Sloan eBusiness Awards, including Business of the Year and Global Reach.
A company called ComponentOne LLC released a software component that gives Web developers the ability to integrate PayPal into their ecommerce solutions. ComponentOne PayPal eCommerce for ASP.NET is a free component for Microsoft Visual Studio, making it even easier for Web sites to offer the PayPal payment service.
And if you can't resist the eBay/PayPal rumors, CBS MarketWatch's Bambi Francisco has a nice piece, and says PayPal might be a better fit for a large financial institution than for eBay. (She also said that Yahoo offered PayPal $200 million some time ago; that's a new one to me.) The URL is long, go to http://cbs.marketwatch.com/ and do a search by author or title "EBay's growing PayPal conundrum." And look for PayPal's release of its first-quarter results today.
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