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PayPal to Accept Euros and Pound Sterling
Brett_Tabke




msg:628457
 7:22 pm on Sep 25, 2002 (gmt 0)

Excerpt from small snippet on PayPal member site:

Starting on October 9, to increase the ease of conducting international transactions, PayPal will begin to support transactions in multiple currencies. The initial roll-out of Multiple Currencies will give PayPal account holders the option of sending and receiving their payments in Pounds Sterling or Euros, as well as U.S. Dollars.

Good news for those of us targetting the UK and Europe.

 

jtoddv




msg:628458
 7:48 pm on Sep 25, 2002 (gmt 0)

Why do they waste their time? The US dollar runs the world!

Brett_Tabke




msg:628459
 7:52 pm on Sep 25, 2002 (gmt 0)

Gee, that's news to the 200+ folks attending PubConference from Europe. Being able to accept Euro's and Pounds would have made the whole signup process sooo much easier for everyone.

brotherhood of LAN




msg:628460
 8:03 pm on Sep 25, 2002 (gmt 0)

I hear that 50% of the worlds economies' money goes through London each year ...that is reason alone...and why London adopts the Euro! :)

The best thing paypal could do is lower the % they take for themselves IMO

onlineleben




msg:628461
 8:07 pm on Sep 25, 2002 (gmt 0)

"The US dollar runs the world!"
jtoddv,
just be reminded that the Euro is, similar to the Dollar, the lead currency in some countries that are not memeber of the Euro-Zone. Still the Dollar is the leading currency for world trade, but its importance deminishes.

Also have a guess what keeps us europeans from joining some us-based affiliate programs. Cashing in a cheque from e.g. amazon (US or UK) costs here in Germany the equivalent of 12 USD. now think about small amounts from affiliate programs (amazons minimum payout USD 25) and half your commission is gone.
I think that paypal's move to accept other currency than just USD is very much welcomed by the rest of the world.

jgar




msg:628462
 8:11 pm on Sep 25, 2002 (gmt 0)

We use Worldpay, they charge 4.5% (5% for Amex). Worldpay allows up to 5 currencies of your choice. How do other internet payment companies (such as paypal) compare?

heini




msg:628463
 8:18 pm on Sep 25, 2002 (gmt 0)

Good news indeed. Could turn out to be a very important move for worldwide ecommerce over the web.
Now if they would put up some decent customer support for Europe...

NameNick




msg:628464
 8:25 pm on Sep 25, 2002 (gmt 0)

The US dollar runs the world!

Not the world I live in. We use kagi and we are receiving credit card payments from Germany since kagi added the Euro to thier list of accepted currencies.

Users want to pay in thier own currency. I think it is a psychological thing.

NN

gsx




msg:628465
 8:41 pm on Sep 25, 2002 (gmt 0)

"The US dollar runs the world!"

Which is the narrow-minded response I got when I contacted PayPal about currency conversion. "Why do you need to use anything other than the dollar?" was their response.

Simple, in three months of using PayPal (in dollars) I had zero sales, but lots of people going to the PayPal payment screen. I switched to WorldPay in GBP and immediately started to get around four orders per day (yes per day, not per week or month).

It is good progress for PayPal and I may even incorporate them back into my payment options, I may get that initial $1 back (eventually).

With London being the financial capital of Europe, it really will increase PayPals audience many times over by them using the three most popular currencies for the World.

Rumbas




msg:628466
 8:59 pm on Sep 25, 2002 (gmt 0)

Nice move by Paypal, in due time I would say!

<rant>
Sorry, but I still have mixed feelings with Paypal; the registration and following confirmation process with a Danish credit card (visa) is still a hazzle since the 4 digit what-ever number is not showing on Danish bank statement. So, they want me to take copies of all sorts of things and fax it to them? Please, we're talking 2002 now..

Nope, no way, sorry folks, but it's not gonna happen eventhough you now accept Euro's.
Ease up on the confirmation process and we'll consider adding Euro's to our account beyond the first $1,000.
</rant>

I better hit the sack now before my blood pressure hits 200.. ;)

Crazy_Fool




msg:628467
 10:00 pm on Sep 25, 2002 (gmt 0)

>>Being able to accept Euro's and Pounds would have made the whole
>>signup process sooo much easier for everyone.

ummm ..... nope. the currencies paypal accepts makes no difference to the sign up procedure which is cumbersome to say the least. i'm already prohibited from using 2 email addresses with them as i used one when attempting to sign up for pubconference and another when i finally did manage to sign up for pubconference. i could probably sort that out if i knew my usernames and passwords, but i don't want a username and password just to make a payment - i already have a couple of hundred usernames and passwords for other things. i just want to purchase without any hassles like i can with most payment systems. i won't be making another payment through paypal no matter what currencies they accept.

heini




msg:628468
 10:10 pm on Sep 25, 2002 (gmt 0)

Hehe, I sure hope we have someone from Paypal reading here - some useful customer / nearly-customer feedback here.
Frankly, the sign up process and follow up calls to the US were less than amusing.
Hiring call center agents in some European main markets and doing some research in how things work out over there would probably go a long way for Paypal to reach critical mass in Europe.

The market is clearly ready for such a system, given the still rather low acceptance of credit cards as online payment method in many Euro countries.

Rumbas




msg:628469
 10:23 pm on Sep 25, 2002 (gmt 0)

Frankly, the sign up process and follow up calls to the US were less than amusing.

Agreed! They wouldn't even talk to me when I made the mistake to tell them that I was calling to clearify a company cc.

PP: Not your name on the card?
ME: Err..no, it's a company card..
PP: Then I can't even discuss non-account information with you. Goodbye!
ME: WHAT!?

Head on the nail heini. They should do a little research outside the States before trying to sign us up over here.

jtoddv




msg:628470
 10:36 pm on Sep 25, 2002 (gmt 0)

I love you guys. I saw the opening for the wise crack and took full advantage.

You know, it is a rarity that you post 2nd in the list of a major topic. It is in the essence of time and dumb luck! I was on time.

I know that it is big news for you guys.

luma




msg:628471
 12:00 am on Sep 26, 2002 (gmt 0)

So can I pay my WebmasterWorld contribution using Paypal, now?

The main reason for Paypal's success is eBay. That's why eBay bought Paypal, iirc. Paypal allows me to easily buy something and pay someone on the other end of the world. Hey, a couple of days ago, I bought a (out of print) book from someone in Australia. I am in Germany. Whe are indeed on the other side of the Globe. Buying and selling goods via ebay world wide is really cool.

As much as "to google" became a synonym for searching, "to paypal" will become a synonym for "paying".

mack




msg:628472
 1:08 am on Sep 26, 2002 (gmt 0)

IT will do wonders for sites that are selling their product both inside and outside of the USA. being able to see the values in local curency and pay as such woudl make me more likely to buy. Dont think i have ever made an online ourchase where the lavues have ben non UK sterling.

GoogleGuy




msg:628473
 2:32 am on Sep 26, 2002 (gmt 0)

Huh. We made AdWords accept Euros and Pound Sterling (and yen, and ...) a while ago. Seemed like a good idea to us. :)

inwaaaytoodeep




msg:628474
 9:28 am on Sep 26, 2002 (gmt 0)

[finance.yahoo.com...] - That's ruled the world by the way!

As for PayPal, take a dose of this before you signup.
[paypalwarning.com...]

caine




msg:628475
 11:07 am on Sep 26, 2002 (gmt 0)

Someone obviously had a bad time with paypal. Thats quite a site, i can't imagine paypal are best pleased with it.

Crazy_Fool




msg:628476
 11:32 am on Sep 26, 2002 (gmt 0)

>>Huh. We made AdWords accept Euros and Pound Sterling (and yen,
>>and ...) a while ago. Seemed like a good idea to us.

you took your time about it GG .... i'm still paying in US$ because that's how it was when i signed up ... how about adding a facility to allow us to switch to other currencies rather than opening a new account and setting up hundreds of listings again? US$ billing makes a mess of my accounts ....

i've been accepting multiple currencies online for 3 years now ....

inwaaaytoodeep




msg:628477
 11:44 am on Sep 26, 2002 (gmt 0)

Quite!

jtoddv




msg:628478
 12:03 pm on Sep 26, 2002 (gmt 0)

inwaaaytoodeep,

I did a search for paypal on Googs and found that out of the top 7 results 3 are anti-Paypal. From what I read and the amount of sites out there, I will discontinue my use. Obviously some else got burned in a big way; I will make sure that I don't either.

This is the one that got me:
"4. If you are a bona fide, up-standing individual with hundreds of successful transactions, but someone pays you with a stolen credit card, your account (by PayPal's own admission) is immediately flagged as being "criminal behavior" and any money in that account is confiscated. If a customer "disputes" the charge, same thing happens. (See email above.)"

inwaaaytoodeep




msg:628479
 2:32 pm on Sep 26, 2002 (gmt 0)

Glad to have been of service!

smatsmax




msg:628480
 2:37 pm on Sep 26, 2002 (gmt 0)

Well i was about to say how glad i am that Paypal is accepting
However from what i've read i am now a bit worried...

gsx




msg:628481
 2:38 pm on Sep 26, 2002 (gmt 0)

jtoddv, which is why you have as little money in as possible. Withdraw often and deposit rarely. Never have an amount on a PayPal (or fastpay or nochex...) account that you can't afford to lose.

And about the negative website to PayPal, you do realise that there are plenty of anti-Google and anti-Microsoft websites. Does that stop you from using Google or MSN?

NameNick




msg:628482
 4:18 pm on Sep 26, 2002 (gmt 0)

gsx wrote
And about the negative website to PayPal, you do realise that there are plenty of anti-Google and anti-Microsoft websites. Does that stop you from using Google or MSN?

Right, but neither Google nor MSN freeze your money for reasons you are not responsible for.

NN

Brett_Tabke




msg:628483
 4:34 pm on Sep 26, 2002 (gmt 0)

That happened 3-4 years ago when PayPal was just a couple months old and got scammed for millions in bogus credit cards. I've not seen a valid complaint along those lines about paypal put up in a very long time.

I've done over a thousand transactions on my own account and have one former client that is doing 100+ transactions ($3k) a day with them. I also have a good friend who makes his living off of selling major items on ebay ($10k a day). None of us has ever had a single transaction problem with PayPal. Not one.

[edited by: Brett_Tabke at 8:21 pm (utc) on Sep. 26, 2002]

smatsmax




msg:628484
 4:40 pm on Sep 26, 2002 (gmt 0)

Thanks Brett
Youve put my mind at rest

webdiversity




msg:628485
 4:45 pm on Sep 26, 2002 (gmt 0)

It's the same old thing, scaremongering makes for good press.

jakeblue




msg:628486
 7:25 pm on Sep 26, 2002 (gmt 0)

why doesn't paypal have this in a press release on their site, or am I missing it?

This 37 message thread spans 2 pages: 37 ( [1] 2 > >
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