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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.
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.
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.
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 $1,000.
I better hit the sack now before my blood pressure hits 200.. ;)
ummm ..... nope. the currencies paypal accepts makes no difference to the sign up procedure which is cumbersome to say the least. i'm already prohibited from using 2 email addresses with them as i used one when attempting to sign up for pubconference and another when i finally did manage to sign up for pubconference. i could probably sort that out if i knew my usernames and passwords, but i don't want a username and password just to make a payment - i already have a couple of hundred usernames and passwords for other things. i just want to purchase without any hassles like i can with most payment systems. i won't be making another payment through paypal no matter what currencies they accept.
The market is clearly ready for such a system, given the still rather low acceptance of credit cards as online payment method in many Euro countries.
Frankly, the sign up process and follow up calls to the US were less than amusing.
Agreed! They wouldn't even talk to me when I made the mistake to tell them that I was calling to clearify a company cc.
PP: Not your name on the card?
ME: Err..no, it's a company card..
PP: Then I can't even discuss non-account information with you. Goodbye!
Head on the nail heini. They should do a little research outside the States before trying to sign us up over here.
The main reason for Paypal's success is eBay. That's why eBay bought Paypal, iirc. Paypal allows me to easily buy something and pay someone on the other end of the world. Hey, a couple of days ago, I bought a (out of print) book from someone in Australia. I am in Germany. Whe are indeed on the other side of the Globe. Buying and selling goods via ebay world wide is really cool.
As much as "to google" became a synonym for searching, "to paypal" will become a synonym for "paying".
you took your time about it GG .... i'm still paying in US$ 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 ....
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.)"
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?
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]