Auctionbytes-NewsFlash, Number 875 - October 22, 2004 - ISSN 1539-5065
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Yahoo Pulls Plug on Online Payment Service
By Ina Steiner
AuctionBytes.com
Reading AuctionBytes: Yahoo Pulls Plug on Online Payment Service
Yahoo is closing its "Yahoo PayDirect from HSBC" online-payment service next month, one year after CitiGroup shuttered its c2it online-payment service. Yahoo PayDirect, which competes with eBay's PayPal service, allows users to send or receive money online from an account fund with a credit card or checking account. Yahoo gave users no explanation as to why it was pulling the plug on the service and could not be contacted by press time.
Current Yahoo PayDirect users will be able to use their accounts until November 22 and will be able to view account records and withdraw pending balances until February 15, 2005. After that, users will only be able to access their PayDirect accounts to review past transactions or close their accounts. The PayDirect service and Web site will be completely discontinued on May 15, 2005.
http://paydirect.yahoo.com
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