Login or Register

Forgot?
I'm new, register me!

What is OmniNerd?

100% of OmniNerd's content is generated by you, the reader. OmniNerd allows content of all sorts and highlights the nerdiest of what's around.

Want to know more? Check out our welcome page, or simply register and have a first-hand look.

Submit New Content

Voting Booth

Been a victim of a violent crime?

View Results, All Polls
67 votes, 4 comments
9
Nerd-Its
+ -

eBay's New Policies Boost Competition

Newspaper current event by VnutZ on 22 February 2008, tagged as ebay, internet, and business

eBay was born in 1995 but didn't really form into its modern version until after a restructuring in 1998. The site has evolved over the years to accommodate the needs of it users but most importantly to accommodate eBay's own bottom line. A new change has been announced for 2008 that dramatically changes both the pricing structure for listing and the nature of the feedback system. Longtime users are protesting and threatening a boycott; such a threat has been launched many times before but never with as fervent a following. One of the most controversial changes is that sellers may no longer post negative feedback against buyers which has many fearing "buyer blackmail." The latest uproar over eBay's policies has not only impacted their daily traffic but provided a boost to alternative auction sites.

Favorite
[Show/Hide] [Reply]   2 Nerd-Its - + Favorite
What about PayPal? by tomtolman :: NR6 :: on 23 February 2008

What about eBay owned PayPal? I'm suprised that there are no real competitors. Most of PayPal’s major competitors have shut down. According to Wikipedia:

    • Citibank’s c2it service closed in late 2003
    • Yahoo!'s PayDirect service closed in late 2004
    • Western Union announced the December 2005 shut down of their BidPay service but subsequently sold it in 2006 to CyberSource Corporation
    • BidPay announced it will cease all operations on December 31st, 2007

I've never heard of any of the companies that Wikipedia lists that offer services similar to PayPal - Wirecard, Moneybookers, 2Checkout, CCNow and Kagi.

In November 2007 Steve Case (AOL legend) opened Revolution Money. There was little fanfare. I was only able to find an article in the Washington Post and Information Week.

PayPal grew quick because they offered a free $5 to new account holders back in the day (1995) and an additional $5 to the person referring. Revolution Money just announced their own referral program - $25 for new accounts and $10 to the person referring. I recently wrote a post about this on my P2P lending blog:

PayPal competitor Revolution Money offers $25 sign up bonus

This means that Revolution Money is shelling out about $35 to aquire a new customer. Will this work for them? I signed up (hey, it's a free $25) but I can't see them getting $25 from me especially since almost all their services are free. I can only imagine they hope to sell to someone else that values each user at more than the cost of acquisition.

[Show/Hide] [Reply]   1 Nerd-It - + Favorite
RE: What about PayPal? by Brandon :: NR9 :: on 23 February 2008

I'll take $25 (i.e., send me an invite to join Revolution Money).

[Show/Hide] [Reply]   1 Nerd-It - + Favorite
RE: What about PayPal? by tomtolman :: NR6 :: on 23 February 2008

Done.

Top of this Thread | Top of Page