The online transaction service, PayPal, has recently put into effect new regulations that limit what its users can pay for. Owned by EBay, PayPal began as a free service to transmit money from bank accounts and credit cards to other users, and later began charging for some of its services. With no real competition, however, PayPal hasn’t been forced to stay flexible with its services.
There’s been plenty of news in the past about PayPal losing people’s money, refusing to submit a transaction on account of another user’s fraudulent claims about a mis-shipping, and other online horror stories. Now, however, PayPal is refusing to sanction adult-oriented materials, as well as goods that others might think are stolen.
EBay’s auction policy already prohibits different types of goods from being sold, and PayPal’s newest limitations bring it further in line with that policy. Unfortunately, this means non-auction goods being paid for by way of PayPal will be forced to fall into this policy as well, even though the items in question may very well be legal.
As said, however, there’s still no competent competitor that doesn’t charge for online monetary transactions, backed by a financial institution, leaving us to rely on the financially unbacked PayPal service if we want to retain the ability to send speedy online transactions.
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